HYDERABAD: The IT corridor that runs through Rangareddy district continues to be an irresistible attraction for the promoters of residential real estate development projects despite the Covid-induced economic slowdown.
In 2021, Telangana’s State Environment Impact Assessment Authority (SEIAA) has received 140 proposals of real estate development projects that need environment clearance (EC) and about 80 of these are proposed in Rangareddy district, as per data available in the public domain.
As per the environment impact assessment (EIA) notification, construction projects with a built up area between 20,000-1,50,000 square meters have to seek prior EC.
Most projects in Rangareddy are concentrated in three mandals — Serilingampally, Rajendranagar and Gandipet — which have various residential areas like Manikonda, Madhapur, Puppalguda, Khajaguda that are close to IT offices. Many big-ticket projects require an estimated investment of Rs 200-500 crore or more and some have proposed buildings with 30-40 floors.
Some of the big-ticket projects include one proposed by Urbanwoods Realty LLP at Khajaguda at a cost of Rs 800 crore, a project by DSR-SSI Builders and Developers at Puppalguda proposed at Rs 790 crore and a Rs 538 crore project proposed by Alekhya Homes Building Systems at Narsingi. Medchal-Malkajgiri is the second-most sought district for real estate development, mainly in Shameerpet, Quthbullapur, Ghatkesar and Bachupally mandals. About 35 projects are proposed in these mandals. Of the remaining projects, most of them are proposed in Sangareddy district, mainly in Patancheru.
Most projects in & around GHMC
The data of environment clearances sought shows that most of the major real estate development projects are concentrated only in areas located in and around GHMC limits, while request for such clearances are almost nil in other districts