- There will be no drinking water shortage in Hyderabad for next 50 years
- More security with new Command and Control Centre.
- Many people to spend retired life
- Purchasing properties in pre-launch and UDS sales, a risky affair
- IT, residential space on 4 & 12 acres respectively
- DSL Infra MD Manoj Agarwal
The Telangana government is striving hard for the infrastructure development. Due to the Mallanna Sagar project recently inaugurated by CM KCR, there will be no drinking water shortage in Hyderabad for the next 50 years. While there could be drinking water problems in cities like Chennai, Bengaluru and Mumbai, Hyderabad will never face such a problem in near future, DSL Infra MD Manoj Agarwal opined.
In a special interaction with Real Estate Guru on the occasion of completing construction of an IT complex in Uppal, he said that Hyderabad is set to become one of the safest cities in the coming days due to the launch of the new police commissionerate office with one of the world’s best Command and Control Centre in Banjara Hills and the highest priority being given to citizen safety.
As a result, Hyderabad can stand next to cities like New York in terms of citizen security. He said the number of international flights being operated to Hyderabad were on par with Mumbai and Delhi. He explained that the Metro Rail, the Outer Ring Road and the cosmopolitan culture of the city are making everyone feel secure and plan to spend their retired life in the city. Excerpts from his special interview:
“If you take NCR or Mumbai in North India, brokers would buy flats and then sell them to buyers. The same trend continues today. But in Hyderabad, buyers are able to purchase properties directly from the developers. Hyderabad’s real estate market is very mature as we have a large number of genuine home buyers and investors rather than those who rely on speculation.
We have most people who are buying properties to avail Income Tax benefits or want to own a home genuinely. Hence, we do not see many people purchasing properties from brokers. However, buyers should be cautious while taking a final decision after considering various aspects including from whom they are purchasing the property, the price and the capability of completing the project.
The biggest risk
Since UDS and prelaunch sales are illegal, buying these properties is one of the biggest risks. Well-known developers can deliver 30 and 40 storey apartments, but will not sell flats under UDS or prelaunch schemes. Flats are being sold under prelaunch offers as the market is in a better condition. Once the market starts to decline, the real problems will start. When the market starts to correct itself, then one will face the music as well as suffer its repercussions. If the work stops, they will fall into a deep abyss of risk and may not recover that easily. Therefore, it is better not to buy into such projects.
Two projects
After completion of DSL Virtual Mall and Multiplex in Uppal, we recently completed an IT complex spread over four million square foot. We are preparing to build a new IT and residential complex on Eighth Street in Habsiguda. Here, we bought two land parcels of 4 and 12 acres of land parcels. We will develop an area of 10 lakh square feet of space in the first four acres, with space for IT offices as well as a residential complex. We are gearing up to launch this project in July or August of 2022. We will then begin construction on the second land parcel of 12 acres. In addition, we are preparing to develop farm layouts on 50 to 70 acres. We are planning to have only one farm house in a land admeasuring half-an-acre to an acre.”
