Realty impact of Satellite Cities in Hyderabad Satellite City is an urban concept that has gained prominence across all major cities in India in recent times. Besides being in the vicinity of the main city, it offers all infrastructure facilities along with good connectivity across the city. Further, it also resolves to certain extent the vices faced by the main city. These include population explosion, traffic congestions, garbage disposal, employment crunch and many other issues that are the by-products of urbanisation and migration of people from other places to large cities. Additionally, it offers relief from the rigours faced by city dwellers as a result of travelling hassles, pollution, traffic snarls and concentrated living in congested spaces. Satellite cities provide employment opportunities to a large number of prospective job seekers along with spacious dwelling facilities in planned layouts. Hence, you would find a large proportion of villas and row houses in such cities, along with apartments. Hyderabad has also developed two prominent Satellite cities, Hitech City and Vikarabad. Hitech City Hitech City is located about 16 km from the heart of Hyderabad city along its western fringe. It has been developed as a major technology township in proximity to major IT hubs like Gachibowli, Madhapur, Kukatpally, Manikondaand Kondapur and a posh residential hub like Jubilee Hills. Spread across about 151 acres of land, it was jointly developed by Larsen & Toubro along with Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC). Hitech City which was initially called L& T Infocity was developed with Built-to-suit (BTS) facilities to cater primarily to the IT/ITeS sector. Strategically located, it caters to all segments of the IT industry, including small and medium enterprises with office spaces starting from 2,500 sq. ft. onwards. Even though L&T can be credited to being the major private infrastructure player in developing Hitech City, there are many other infrastructure firms who have played their part. They include Raheja Corporation, RMZ, DLF, Emaar, Divyasree Infrastructure and MGF, among others. Hitech City has many important IT SEZ’s like Mindspace Cyberabad SEZ, Hitech City 2 SEZ, TCS Synergy IT SEZ, DLF IT SEZ, Tech Mahindra IT SEZ as well as IT SEZ’s belonging to Wipro, Infosys and APIIC. Prominent IT Parks in Hitech City include L&T Infocity, Vanenburg IT Park (also called “V” or Ascendas IT Park), Mindspace Tech Park, RMZ Futura IT Park and Cyber Pearl, among others. Besides IT campuses of major IT companies have also been established here. They include campuses of Microsoft, Dell, Convergys, Honeywell, Capgemini,
Oracle, Polaris, Satyam and Facebook, among others. Moreover, future developments are in the pipeline that include an Aerospace SEZ, a Hardware Park and a Fab City, among others. Among the total developable space available in Hitech City, about one-fifth has been allotted for IT developments which the remaining has been set aside for residential developments. It can be said that the development of Hitech City as a satellite city in Hyderabad has had a tremendous influence on the development of other major IT hubs in the vicinity. Besides, infrastructure in Hitech City and its surroundings has been given paramount importance. This has facilitated the growth of realty in the area and its surroundings with many prominent developers coming up with luxury apartments. Residential units here come at a premium and are lapped up by buyers due to the prospects that the area offers. Comparatively lower priced that many other upmarket area like Banjara Hills and Jubilee Hills, the area has recorded steady appreciation in residential and rental values along the years. As per CommonFloor data the capital values of apartments in Q3 2014 is about Rs 4421 per sq. ft. This is an appreciation of about 2 per cent compared to prices in the corresponding quarter in 2013. Hence, it presents a lucrative proposition for investors who have invested in property here. Vikarabad Vikarabad is located about 75 km from the heart of the city along its western periphery which is being developed into a Satellite township. The process for its development was initiated in 2012. It is a town and municipality in Ranga Reddy district. It has a population of about 53,140 people as per the 2011 census. It is being developed as a Satellite city primarily to decongest the city as well as due to the availability of large parcels of government land available for development. It is expected that like Hitech City, Vikarabad will also see considerable development in the years to come. Considering that it is quite far away from the city limits, it also presents the prospect of developing areas in the vicinity, thereby expanding the city limits as well. This is expected to have a spill-over effect on the realty market in Vikarabad and area in its vicinity. Due to the fact that land is currently available here at reasonable prices, it presents investors with lucrative future prospects. Land prices in the area is currently available for about Rs 150 per sq. ft. with considerable appreciation in prices expected in future. Source: CommonFloor.com For Latest Updates on Real Estate Updates, Property News and Cities Infrastructure Developments Visit: http://www.commonfloor.com/guide
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