The new spinal road connecting Kukatpally with Madhapur is a fit case to study what right access could do the real estate value of a locality.
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Buoyed by the response and the changes it brought in these areas, the authorities are said to be working on adding more such roads connecting Kukatpally with Madhapur. One such road is expected to connect the KPHB with Kavuri Hills just beside Jubilee Hills.
Till recently, the last phases of Kukatpally Housing Board (KPHB) were categorised as neglected one in almost all aspects. The colony had its face on the Mumbai highway and these parts were a couple of kilometres inside from the entry point. Bereft of much amenities and connectivity, they languished and were nothing but a feeble beep on realtors' radar.That was before the spinal road that snakes through the colony and starting from JNTU ends up right in front of Cyber Towers at Madhapur. These remote corners of KPHB which used to be at least 10 km to 12 km away suddenly found itself at the doorsteps of a bustling Hitec City.
And naturally, the real estate prices and rentals have shot up there. While MIG houses in the colony have set a minimum baseline of Rs. 32 lakh plus, even the small EWS houses have gone in demand asking a price range of Rs. 16 lakh to Rs. 22 lakh.
The rise in rentals has resulted in a frenzied activity here as many house owners started construction work to add more built up space in anticipation of high rentals. Single storied buildings are turning double storied and the two-storied into three and so on. The spinal road has also provided access to the Hitec MMTS station from Madhapur side and this factor is also being considered by the realtors.
Buoyed by the response and the changes it brought in these areas, the authorities are said to be working on adding more such roads connecting Kukatpally with Madhapur. One such road is expected to connect the KPHB with Kavuri Hills just beside Jubilee Hills.
This also helped, the Malaysian Township here. Most apartment blocks are said to have been booked and even duplex are in great demand.
Source: The Hindu
