AP News Shadnagar In The SpotLight
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That the Outer Ring Road (ORR) project has set off a realty boom is old
news. However a few areas that are close to ORR and will now merge with
Greater Hyderabad have suddenly sprung into prominence, pushing up
demand and rates of land there.
Shadnagar,which was so far a small town on the edge of Mahbubnagar is
now emerging as an attractive destination for those seeking to invest
in land. Jagadesh Reddy, managing director of Headway Properties whose
venture The Origin is in Farooqnagar mandal here, says, `Shadnagar has
been in focus ever since the ORR was announced because it is just 20 km
away from the Rajiv Gandhi International Airport.`` Earlier Shadnagar town was dependent on oil factories, steel units and plywood companies. However, the recent real estate boom in and around Hyderabad has changed all that. Rajesh Naik, a real estate agent says `Five years back, Shadnagar was just another sleepy town, but now the real estate scene has added glamour to it. With land sold at attractive rates, people here have grown prosperous. Those who stayed in small kachcha buildings are moving to better residences and have become rich landlords. Land rates along the Parigi Road have appreciated by 125 percent over a year. Anybody who invests in approved layouts near Shadnagar is sure to benefit.'' However investors must ensure that the land they are considering is DTCP approved. SOURCES: Times Of India             |
