Investments are steadily pouring in Hyderabad in the form of commercial ventures and global business companies. This has increased the real estate potential in Hyderabad to a greater extent. However, the growth and the development is restricted to the city owing to the infrastructural progress within the city limits that does not connect the neighbouring towns of Hyderabad. This lack of connectivity has made the Government realize that there could be certain problems in the future that might affect the socio-economic growth of Hyderabad.
To further boost the infrastructural advancement in the city, the Central Government has given its approval to the building of the Regional Ring Road (RRR) in December 2018. This new Ring Road project is designed to run along a stretch of 338 km at an estimated budget of Rs 11,000 crore. This is believed to increase the real estate demand around Hyderabad city and its surrounding districts. Let us now study in details how Regional Ring Road will boost Hyderabad real estate and its suburbs.
Regional Ring Road (RRR) project Highlights
The Regional Ring Road project is estimated at a cost of Rs.11,000 crore that will connect the important areas outside the existing Outer Ring Road (ORR). The conception of this project aims at strengthening the existing roads connecting the major National Highways passing through the State, thereby easing regional road connectivity. Here are a few quick details about RRR.
- The Regional Ring Road is conceptualised to stretch over a length of 338 KM and 60 meters wide, meaning it will be a 6 lane road.
- The RRR corridor is divided into four quadrants best place to buy sildenafil 20mg pilates helps with respect to the crossing point of the National Highways. These are –
→North East Quadrant- Toopran (NH-44)-Malkapur (NH-65)
→ South East Quadrant- Malkapur-Shadnagar (NH-44)
→ North West Quadrant-Koulampet (NH-65) to Toopran
→ South West Quadrant- Shadnagar-Koulampet
- According to the project plan, RRR is likely to pass through 125 villages along the alignment. Besides, it will also pass through the existing roads on five reserve forest areas that include Mulugu, Muduchintalapally, Kothiyal, Kappa Pahad, and Narsapur. National Highways Authority of India (NHAI) will helm the project construction
- The Government promised the construction to be at par with international standards with amenities like parking, toilets, food courts, drinking water, parks, and even malls.
Why Regional Ring Road?
With the Outer Ring Road and the National Highways, is there actually any need for Regional Ring Road? Let’s find out.
Building satellite cities –
What are satellite cities? Satellite cities are those self-sustainable cities built around and well-connected to a major city. It has a self-sustaining ecosystem but depends on the major city for higher order functions.
Connecting cities through RRR –
Regional Ring Road is built with the vision to connect these surrounding towns and districts to Hyderabad city to improve job opportunities, economic and political development and smooth road connectivity.
Development of backward districts –
In most states, the small districts remain underdeveloped because of lack of connectivity to the nearby major cities. However, the Telangana Government has taken the initiative to improve employment opportunities and boost small-scale business from surrounding districts by the construction of RRR that will develop road connectivity.
The Regional Ring Road will boost tremendous improvements in various sectors like better employment, more trade, quality education, and better healthcare. This will especially benefit small and medium scale businesses and also the Hyderabad real estate.
Impact of the Regional Ring Road (RRR) project on the Hyderabad real estate
Hyderabad is experiencing a boom in the real estate unlike any other Indian city. The availability of vast stretches of land, affordable rate in spite of various expansional infrastructure projects, foreign investments and a young cosmo population; these factors have contributed to the development in Hyderabad real estate sector.
The regional ring road is proposed to pass through areas such as Sangareddy, Narsapur, Gajwel, Jagadevpur, Bhuvanagiri, Choutuppal, Ibrahimpatnam, Chevella, Shankarpalli, Yacharam, Kadthal, Shadnagar, Pamena, Malkapur, Bhongir, Toopran, and Kandi. With an opportunity of good connectivity, the real estate in these areas is bound to take a leap. Real estate investors will target these areas to buy plots and establish affordable housing projects. Besides these areas will also attract the major realty players in the market to develop gated community apartment projects and villas at mid-budget range. Consequently, it will act as a catalyst for the growth of trade and business in these backward regions.
At the same time, development of office spaces and industrial units will further boost employment, business, education, health and entertainment facilities in these areas.
In short, the Regional Ring Road will help to improve the city and its surrounding regions.