HYDERABAD: With the city’s real estate prospects growing rapidly, Hyderabad’s skyline is headed for a massive transformation with several new high-rise buildings in the pipeline.
Regular apartment complexes are a thing of the past, as builders and developers in the city are now coming up with several high-rise building complexes and towers.
According to developers, dozens of high-rise projects are lined up and are in different stages of construction. Majority of the residential high-rise projects are in the western quadrant in areas like Gachibowli, Kondapur, Madhapur, Narsingi, Nanakramguda, etc, due to their proximity to the city’s IT-hub and the financial district.
However, several developers feel other high-rise buildings could emerge in other pockets of the city, including Uppal, Kukatpally, Nallagandla, among others.
“I certainly feel high-rise buildings are the future. From a builder’s perspective, it means we can build more projects in a smaller space,” explains Ram Reddy, managing director, Ram Ark Builders.
With chief minister K Chandrasekhar Rao’s ambitious vision to transform city’s skyline, especially near Hussainsagar like other cities like Bangkok, Singapore or Thailand, several builders are emboldened to increase the city’s skyline.
“There has been a significant rise in demand for such high-rise buildings and this is because of two reasons. Firstly, it has a spectacular view of the city from the 10th floor or 15th floor of a building. Also, with such projects, one can avail various amenities like a club house, swimming pool, etc,” reasons Narotham Reddy, general manager, Cybercity Builders and Developers.
Another advantage of tall sky-scrapers is that it would reduce congestion and increase availability of the land. While builders across the city are favourable to the concept, they point out that it will not necessarily have an impact on the cost of the project. “The cost of construction will be just as high for a building which has five floors or a building which has 15 floors. But on the other, for builders, there would be an increase in Floor Space Index (FSIs). There is a premium attatched to apartments with more than five floors.” Narotham Reddy added.