The new real estate hotspot, Hyderabad Pharma City (HPC).

The new real estate hotspot of the city is a 30-km stretch along the Srisailam Highway— 45 minutes from Gachibowli. Reason: the Hyderabad Pharma City (HPC).

Although this large ticket business has been underway in Dasara for sometimes, government officials have confirmed it is finally being routed.

This led to major activities along the highway, some 30 km away from the Muncherla project site. The cost of built-up space has also reached between Rs 3,800 and Rs 4,200 per sq ft, with the prices on land experiencing a sharp rise from Rs70 lakh (approx)/acre in 2012-13 to Rs 5 crore now. This was around Rs 3,000 per sqft until a couple of years ago.

Both small and medium-sized property companies and major players are active in this market.

For instance, Ramky Estates plans to expand its footprint in the region it entered at the beginning of this decade. Nanda Kishore M, Company’s Managing Director, said “We have already built 228 villas, now we are working on an apartment and villa project, both will be ready by mid-2021.

For instance, Ramky Estates plans to expand its footprint in the region it entered at the beginning of this decade. “We have developed 228 villas, and are now working on a villa and an apartment project. Both of these will be up for possession by mid-2021,” says Nanda Kishore M, Managing Director of the company.

In the next two to three months, he is also expected to launch new projects. “While we have already seen a steady influx of buyers — from the IT industry, defence, and other industries — the HPC will be a boost on the market. Advantage of social infrastructure growing consistently is also a factor,” he added.

With HPC expected to launch additional employment in the sector, A Murli Krishna Reddy, President of Mak Projects, will be a strength to take into account the real estate industry, which has extended its foundation from 75 acres to 200 acres.

Reddy is now trying to get closer to the HPC. “Our projects are currently roughly 25 to 30 minutes away. We wish to cut this gap with our new projects,” he said.