Telangana’s Real Estate Market Has Reached New Heights.
Considering India as a developing country, most states focus on developing their infrastructure widely. Warangal (District in Telangana) is a new hub for construction, showing a new frontier expected inclusive and expansive growth in the Greater Warangal Municipal Corporation (GWMC) and the Urban Local Bodies (ULBs) in the south-eastern and eastern part of Hyderabad, which is very next to IT Corridor of Hyderabad.
The development in these localities can be the primary response to State government Growth in Dispersion (GRID) Policy, welfare schemes, and massive infrastructure development in different parts of Telangana, a Municipal Administration and Urban Development official said.
As to a study from the Telangana State Building Permission Approval and Self-Certificate System (TS-bPASS), from November 2020 to March 2022, the most significant number of new constructions in Telangana, after the Greater Hyderabad Municipal Corporation limits, came up in the Greater Warangal Municipal Corporation limits (4,544) followed by in the Badangpet Municipal Corporation (3,921) and the Boduppal Municipal Corporation (2,969). In the GHMC limits, the new construction in this same period was about 15,160. Permissions are granted through Telangana State Building Permission Approval and Self-Certification System (TS-bPASS) and not through the Development Permission Management System (DPMS). The permission applied through both platforms is much higher, as per TS- Bypass data.This trend got its limelight after global IT major Genpact announced the setting up of their technology center in Warangal and gained power after other IT powers like Cyient and Tech Mahindra began their operations in Warangal. This flow is the reason for the new construction ventures, both residential and commercial mushrooming in the Greater Warangal Municipal Corporation limits.
After Warangal, most of the new infrastructure came up in the Bandagpet Municipal Corporation limits. These ULBs, situated in the south-eastern part of the city, have seen significant development in the last six years. Falling in the Maheshwaram Assembly Constituency, Badanpet is near Adibatla, which houses substantial firms like Tata Boeing Aerospace Limited, Tata Consultancy Service Ltd, and other major firms.
As a result of the availability of houses in the bearable segments, Badangpet and its surroundings have become one of the most popular choices for people. A score of housing society has mushroomed in this municipal corporation. Badangpet has become the hotspot for the persons working in DRDO and other central Govt. office workers in Adibatla.
Another area that is waving ahead, in the same way, is Boduppal. The IT Personal, whose offices are on the city’s east side, has settled in localities under Boduppal Municipal Corporation jurisdiction. Land prices are relatively lower in this area than in the other parts of the city IT Corridor.