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30 May 2023
Hyderabad's real estate sector is grappling with a mounting crisis of illegal constructions, revealed by a GHMC survey stating 7,000 to 8,000 unauthorized structures sprout annually. The city, still reeling from last month's demolition of 200 illegal homes in Bandlaguda's Crystal Township, faces the looming spectre of similar incidents. Homebuyers express shock and frustration, while experts advise due diligence. Amid an influx of 300 to 400 monthly complaints, GHMC's town planning department struggles with severe understaffing. This surge in illicit townships calls for a more rigorous regulatory framework and vigilant purchasing decisions by prospective homeowners.Read more
26 May 2023
The Greater Hyderabad Municipal Corporation (GHMC) has revealed that the state and central governments are the top defaulters of property tax in Hyderabad, with a combined outstanding balance of approximately Rs 6,000 crore. The state government owes over Rs 5,500 crore, while the Centre owes around Rs 300 crore. Despite regular demand notices, the government departments have only disbursed a small fraction of their outstanding payments. The GHMC is responsible for imposing property taxes in Hyderabad, which contribute to local amenities and services.Read more
16 May 2023
The landmark Victoria Zenana Hospital in Hyderabad, the city's first all-women hospital, is slated for demolition this month to accommodate a new multi-level parking lot for the Telangana High Court. Despite government approval for the demolition, heritage conservationists insist the 120-year-old building could be repurposed. The decision to raze the site, which once housed pioneering women doctors and is a notable example of Indo-Saracenic architecture, has sparked intense debate about the need for urban development versus the preservation of historical heritage.Read more
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15 May 2023
The failure of civic bodies in Hyderabad to ensure that traffic carrying capacity of a road is assessed before giving permission for a new building has left many residential areas choked under vehicle pressure. Builders are not conducting mandatory Traffic Impact Assessment (TIA) when seeking building permissions, and the Greater Hyderabad Municipal Corporation and other ULBs within Hyderabad Metropolitan Development Authority are not strict about conducting traffic studies. With permissions being given freely, small by lanes are turning into major bottlenecks, causing gridlock and making it difficult for residents to access their homes.Read more
14 Mar 2023
PropsAMC, the asset management services and data intelligence division of Square Yards claims to have raised over Rs 100 crores for its first Grade A commercial project in Hyderabad. The project is Square Yards' first foray into the fractional product sector, and it received an average financial contribution of INR 40 lakhs from a group of more than 250 investors amounting to more than 100,000 square feet. Investors in the Hyderabad commercial property have been told they will receive 8% gross returns on their capital with an expected XIRR of 14-15%, post fees and before taxes.Read more
01 Jan 1970
GMR Hyderabad International Airport Ltd (GHIAL) has launched a INR 5,843 crore expansion at Rajiv Gandhi International Airport to meet rising traffic. The plan includes a new 225,000 sq. m terminal primarily for domestic use, a 3,800-meter runway for low-visibility operations, and a 650-meter cross taxiway for wide-body aircraft. Aircraft stands will increase to 163 and parking bays to 5,590. A second cargo terminal (50,000 MT capacity) costing INR 160 crore is set to open by July. The existing terminal is also being expanded at INR 427 crore. A 31-km metro line from Mindspace to the airport is planned to boost access, with GHIAL supporting the initiative. AERA will determine revised tariffs.Read more
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