- Hyderabad is the heart of Telangana
- Politics should not hinder city’s growth!
- Permissible construction area in Greater
Hyderabad is 3-3.5 lakh sq.ft per acre - No permission given for 5 lakh sft construction area
- If given, 70 and 80 storey buildings
should have been constructed - 33 percent space should be reserved
for parking, which is not under FSI - Demand and supply rule the market
- Even if permitted, there must be buyers!
(King Johnson Koyyada)
Some political leaders in Telangana are criticising the State government over an increasing number of skyscrapers in Telangana, alleging that permissions were being issued with unlimited FSI (Floor Space Index) against the norms. They are alleging that no such policy to allow skyscrapers, is being implemented in rest of the country. Since Independence, many political parties have worked very hard for development of Hyderabad city. Regardless of politics, every party that came to power has developed Hyderabad. Hence, politicians are advised to set aside their political differences with regard to growth of the city which is crucial for Telangana State as well. If political criticism is made without facts, it could dent the rapid development of Hyderabad. One must understand the fact that people will not buy houses in skyscrapers just because the government is allowing them. The realty market depends on demand and supply.
Politicians should be aware that the current State government had not sanctioned any fresh permissions for skyscrapers. In 2006, the then Chief Minister of Andhra Pradesh, late YS Rajasekhar Reddy, released a GO permitting unlimited FSI. Depending on the size of the plot and the width of the approach road, the realtors are allowed to build apartment of any height. As a result, since then the culture of building multi-storied buildings and skyscrapers started. Lanco Hills in Manikonda and Lodha Towers in KPHB Colony are considered as first generation skyscrapers of Hyderabad. Later, many construction companies have started skyscrapers in areas like Madhapur, Kondapur, Gachibowli, Nalagandla, Tellapur, Nanakramguda, and Raidurg. It is improper on part of the Opposition parties to blame the current BRS regime to allow new skyscrapers indiscriminately.
Demand and supply
Development of realty market in Hyderabad is solely dependent on demand and supply. Also, just because construction of skyscrapers is allowed, there is no guarantee that people buy them as home buyers purchase properties that suits them best. As per latest estimation, around 75,000 flats are currently under construction in Raidurgam, Madhapur, Kondapur, Gachibowli, Lingampally, Nallagandla, Tellapur, Osman Nagar, Kollur, Kokapet, Puppalguda, Narsingi, and Manchirevula. Similarly, around 10,000 flats are being constructed in areas like TSPA Junction, Kismatpur, Bandlaguda, and Peerancheruvu, with another 15,000 flats between Miyapur and Gandimaisamma. All these constructions will be completed in the next three to four years. But to what extent are these in demand? Due to factors such as changed economic conditions, increased home loan interest rates, high flat prices and an election year, it is now questionable if people want to buy flats this financial year. The State government granting permission for construction, is not a mandate to buy those properties.
