Indeed, the Real Estate business was dull in the initial period. Ever since the state launched a website to encapsulate all the projects, executed before or on January 1, 2017, the Real Estate sector came back on a progressive track as there was a sale of 17,800 homes and inclusion of 16,500 units across Hyderabad. The percentage in property price shot up to 7-15%. The development is not restricted to homes alone, but it extends to the commercial sector as well as Hyderabad is right below Bengaluru in office space leasing. In accordance with the market value, 7.5 million sq. Ft. is being leased by out by the great Multi-National Companies such as Microsoft, Facebook, Qualcomm. It is notable that most of these firms hired between one and six Sq.Ft.
Retail activity witnessed a positive impact as the malls began occupying space between 20,000 and 75,000 Sq. Ft. on average. The State issued notices to about 40 developers to register under the RERA with an intent to safeguard the buyers’ interests and imposed a huge penalty to the tune 1 lakh in case of any further delay on their part.
The inflow of passengers at Rajiv Gandhi International Airport surged to 18.9 million between January and November. As per sources from the AAI, this is 22% Jump since the last year. Interim terminals were set up to manage the increasing crowd; and the terminal was equipped with latest technologies which include remote hand baggage screening facility, face recognition of registered passengers, thereby doing away with the requirement of showing relevant ID proofs and ensuring complete paperless travel. In addition to this, the airline connectivity has been expanded from Hyderabad to Calicut, Hubli, Amritsar, Vadodara, Port Blair, Dehradun, Imphal, Kolhapur, Udaipur, Kannur. Flynas made a debut at RGIA, and prevailing connectivity to Bangkok, Riyadh also increased. Unfortunately, the reports on two air crashes exhibited a bad omen in the month of November. Preliminary reports opined that both the crashes occurred due to technical glitches.
The Civilians in Secunderabad Cantonment area have been facing difficulties because of the functioning of Local Military Authority (LMO). The civilians, however, made a prayer in this regard to the Ministry of Defence which directed the LMO to reopen all the roads. This would reduce the commuting distance by 4 KMs for 3.5 lakh commuters who no longer need to worry about road blockade. They can use freely Gough Road, Entrenchment Road, Wellington Road and Mornington Road which covers the Army Ordnance Corps in Secunderabad Cantonment.
The Civilians can reach areas such as Safilguda, Malkajgiri and RK Puram located outside Secunderabad Cantonment. To the contrary, civilians from the North-East side continue to face the same difficulties as 14 civilian roads are yet to be opened. Even though the CEO of the Secunderabad Cantonment Board prepared a report that all roads were opened, the civilians contradicted and opined that travelling in the area remains cumbersome as no one was even permitted to enter without relevant ID proofs.
Courtesy/By: Sandeep G
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31 Dec 2018
