- High-rises for whose benefit?
- Permission for skyscrapers should be restricted to only select areas
- If not completed as per schedule, buyers must face troubles!
- Might remain as ghost towers
Till recently, huge unfinished structures greeted everyone at the ORR junction near Nanakramguda. But for last few months, there was no progress in works and only the empty towers were visible. For reasons unknown, the elevation work has started recently. There may be no derth of investors in core area where numerous IT and commercial complexes are located. But, in residential areas that are just being developed, how reasonable is it to build structures with 40-50 floors? In the wake of economic recession, what purpose would skyscrapers serve?
Professional developers are turning away due to the greed of the land owners who want to take advantage of the unlimited FSI provision in the State. Instead of constructing 10 floors in a certain area as per traditional practices, they now want the builders to construct 20 floors. Similarly, the land owners are demanding the developers to construct 30-45 storeyed apartments in a land where normally only 15 floors are built. They are insisting that the builders construct more square feet within the available land, to make a better deal for themselves.
Taking advantage of the situation, some real estate commission agents and others with no experience, are donning the role of developers and jumping into the frey with promises to take up construction of 30-50 floors. They are taking up sales mostly under UDS, pre-launch and other such ponzy schemes. In Hyderabad, where there is no shortage of space on either sides of the city, experts are questioning why one needs to build 40 or 50 storeyed apartments. They are of the opinion that due to this, the infrastructure in Hyderabad, will come under immense pressure.
Hyderabad needs some landmark realty projects to stand along side other international cities. No one can deny this argument. However, experts say that in an area where 10-15 storey apartments should be built, 30-40 storey apartments are being constructed. Some land owners and other developers are building skyscrapers even though there is no demand in some areas. As a result, they might be earning some extra money temporarily. But eventually, they are unnecessarily increasing the population density of that area and imposing heavy burden on the existing infrastructure.
Instead, the developers should design their skyscraper projects to avoid any unnecessary burden on the public infrastructure, after taking into consideration the factors like roads, drainage, traffic and greenery. If construction of skycrapers of 30-40 floors are taken up without considering these factors, they might not be able to complete them and face various challenges. Further, the construction cost would only increase as much as the number of floors increase. And if there are no sales, it would be a huge burden to sell such high-rise structures. One need not be surprised, if the project is stopped in the midway.
There are a few officials who blame it on political pressure. Hence, the political leaders should not be involved and concrete plans should be laid for the development of the city. The top officials of the Municipal department should clarify in which areas skyscrapers will be sanctioned. Otherwise, there is a highly likeliness of skyscrapers being started everywhere and none purchase them, eventually turning them into ghost towers, if they are not completed within prescribed time. At least now, the real estate experts want the Municipal department to wake up from deep slumber, understand the reality and take the right decision. On the lines of Bengaluru, people are demanding that the infrastructure should be fully developed first before sanctioning permissions for skyscrapers.
