The old city is changing
Winds of change are blowing across this part of the city. The skyline here is changing and fast. Till now the city’s popular icon was the tallest structure. But now many an edifice is set to dwarf Charminar. The growth boom in other parts of the city has finally caught up with the old city too.
The new international Airport coming up at Shamshabad and the Outer Ring Road are the stimuli for development. Slowly high-rise buildings are making their presence felt here. No, the old city is not home yet to major players in business, knowledge, banking and IT.
But the scene is changing with the residential real estate growing in tandem with commercial space.
Growth areas
A ride through Circle I and Circle II, spread over 51.78 sqkm, which comprise the old city gives an idea. The growth is more pronounced particularly in Malakpet, Akbarabagh, Santoshnagar and Saidabad. Swank showrooms and private office complexes have sprung up.
These areas also boast of high rise apartments. One can also see apartments coming up in Dar-us-Shifa, Chandrayangutta, Barkas and beyond.
All this is the result of the massive road widening. Land prices too have appreciated in places like Purani Haveli, Hari Bowli, Chowk which are widened as part of the 6 km long Charminar Pedestrianistion Project.
With the old city being in close proximity to the International Airport, authorities expect massive development along the peripheral areas. Vacant lands along Rajendernagar and Santoshnagar are in for enormous growth.
“The commissioning of new Airport will have a multiplier effect,” says B. Purushotam Reddy, chief city planner, GHMC.
There are a number of projects in the pipeline which are expected to fast forward the growth engine. The Saidabad road, which connects the new Airport, is being widened to 100 feet and this is going to open up vistas of commercial activity. Construction of ROBs at Kandikal Gate and Uppugda will provide a further fillip. The 4-km stretch of Charminar-Falaknuma road is already widened while widening of the Puranapul-Attapur road is on the anvil. Investment comes when there is demand and this is linked to potentiality.
Till now old city lacked potentiality and now the Airport will change it all. It will have an immediate impact and commercial activity will go through the roof, officials say.
There are not many open lands in the old city, only small plots. But builders see amalgamation of plots in view of the spurt in commercial activity. This is already happening in Serlingampally municipality where people are coming together to merge LIG and MIG plots and raising huge complexes. Also the many function halls along the inner ring road are expected to give way to high rise structures, it is said.
The construction of a 5-star hotel by the Taj group at Falaknuma palace, many feel, will give a spurt to tourism activity. This will have a spin off effect on old city development. The GHMC is also planning a shopping complex at the Charminar bus depot now shifted to Farooknagar.
“With prices shooting up people are going to make the most of their lands. A number of complexes and hotels will come up on the Saidabad road connecting the new Airport. There will be lot of commercial activity in the days to come, says Hyderabad MP, Asaduddin Owaisi.
Well, all this augurs well for the old city economy. Real estate might be at a nascent stage now, but the industry is growing fast.
The market is really hot, agrees everyone.
Source : The Hindu
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