Hyderabad: Real estate experts opined that merging civilian areas of the Secunderabad Cantonment Board (SCB) into the Greater Hyderabad Municipal Corporation (GHMC) or another urban local body (ULB) will enhance the implementation of the Growth in Dispersion (GRID) policy. This policy aims to distribute IT companies more evenly across the city rather than concentrating them in the western corridor.
Experts believe that this merger will not only boost the real estate industry but also facilitate the expansion of IT companies in the civilian zones of the Cantonment board, marking a potential milestone in Hyderabad’s development.
“With Chief Minister A. Revanth Reddy resolving the Cantonment land acquisition issue, paving the way for elevated corridors, and merging civilian areas with nearby municipalities, the city will experience uniform growth and the real estate sector will thrive,” said C. Shekar Reddy, national vice-chairman of the Confederation of Indian Industry (CII) - Indian Green Building Council (IGBC).
He further noted that areas earlier restricted due to security concerns of the local military authority (LMA) will see a surge in land prices.
Members of the Confederation of Real Estate Developers' Associations of India (CREDAI) echoed this sentiment, stating that the scope for larger commercial projects will increase and the GRID policy will be effectively implemented.
“In SCB areas, most projects are residential. Due to the merger, amenities will improve, and companies in the real estate and IT sectors will be interested in developing larger projects,” said V. Rajashekar Reddy, president of CREDAI Hyderabad. He added that high-rise buildings could also be constructed based on space availability and proximity to military stations.
Builders also noted that applying the municipal act for building permits post-merger will enable real estate companies to plan bigger ventures in SCB areas, unlike before.
