HYDERABAD: My Home Constructions Private Limited (MHCPL) has laid ambitious plans in the belief that the Hyderabad real estate sector will buzz with activity again in the coming months.
“The Hyderabad realty sector has put the bad times behind and is stabilising now. Within a year it will get back its vibrancy and brim with new launches, and home-buying will increase. We have lined up two new projects in the city for launch in October,” said J Shyam Rao, executive director of the company.
The company, which had already executed residential and commercial projects spread over 6 million square feet area in the city, is currently executing two residential projects spread over 5 million square feet area. The work is progressing according to schedule and will be completed by December next year. Both the projects are located in the sought- after destinations _ Gachibowli and Raidurg. They are in the same area because of the huge demand for residential and office space from the IT sector.
“We are coming up with an integrated township at Raidurg which will be located in the heart of the IT hub and the central business district. Spread over 32 acres, the township is aimed at high-end customers. It will have amenities like IT office space, malls, etc. There is huge demand for high-end residential space from people employed in the IT sector and other affluent classes in the city and we want to cater to that segment,” Shyam Rao explained.
The construction group will have strong focus on the city for the next two to three years. “Though we plan to venture into cities like Bangalore and Pune in future, Hyderabad will be our main focus area for the next two to three years. Not just because we have an edge in Hyderabad as we are local players but also because Hyderabad is going to witness a spurt in the commercial and IT activity in the coming months which will automatically transform into demand for residential spaces in the city,” he said. IT companies such as Google and Capgemini have stepped up their operations in Hyderabad.
The My Home group, on the occasion of its chairman J Rameshwar Rao’s 60th birthday, has announced scholarships of Rs 10,000 each to about 180 meritorious students of 60 government schools in Hyderabad, Mahbubnagar and Kurnool districts.
‘Golden Time Now for Home Buyers’
As signs of recovery are showing up in the Hyderabad realty sector, Rakesh Talwar, sales and marketing head of NSL Infratech, says that this the best time to own a home in Hyderabad. In an interview with Express he forecasts that 2016 will be the year of comeback year for the city realty sector.
Here are excerpts:
How is Hyderabad realty sector doing now?
Realty is slowly picking up and there is a positive mood among developers and builders. Though the situation now is far better than a year or two ago, we have to wait till 2016 for complete recovery.
What makes you bet on 2016?
The Telangana government is focusing a lot on Hyderabad and trying to attract investors and industries to Hyderabad. As a result, Hyderabad is getting attention from many IT companies and also industries. I think government’s efforts will soon yield results and some new industries or IT companies may set up their operations here by 2016. It might take time but things are surely looking bright. I feel by next year activity will surely pick up here.
How is the city realty placed when it comes to attracting new companies and investors?
Though Hyderabad is a good place to start operations or invest, still it will take much more effort and time to catch up with cities like Bangalore which is still the preferred destination for new investors.
What needs to be done for making Hyderabad a preferred city?
Hyderabad is already and will always be the preferred destination to buy a home or invest for local people. But to attract investors or companies from other parts or NRIs, the government has to give incentives to new industries and IT companies. Only if industry and IT sector is developed can more jobs be created and demand for residential spaces will increase.