REG News
The proposed elevated corridor on National Highway 765, connecting Hyderabad and Srisailam, has received fresh momentum after Union Road Transport and Highways Minister Nitin Gadkari responded positively to a request from Telangana Roads and Buildings Minister Komatireddy Venkat Reddy.
Gadkari has directed officials to prepare a fresh Detailed Project Report (DPR) for the proposed corridor. The move is expected to help reassess the project’s feasibility, design and implementation requirements.
NH-765 is an important route for commuters and pilgrims travelling from Hyderabad towards Srisailam. The proposed elevated corridor aims to improve traffic movement and travel convenience along the route. Further progress will depend on the preparation of the DPR and subsequent decisions on the project.
Some builders who sold flats at low pre-launch prices are now facing a major challenge. Developers who initially sold apartments at ₹4,000–₹5,000 per square foot are looking to raise prices to ₹7,000–₹8,000 after obtaining RERA approvals. However, buyers are reluctant to purchase at the higher rates, making it difficult for builders to sell their remaining inventory.
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Gap Between Pre-Launch Prices & Market Rates
Selling flats at lower prices during the initial stages is a strategy used by some builders to mobilise funds for their projects. They subsequently plan to increase prices and sell the remaining units based on regulatory approvals and construction progress.
However, slower market demand and the availability of comparatively cheaper apartments in neighbouring areas have prevented some developers from achieving their expected sales.
For some builders, selling the remaining flats at higher prices after offering attractive pre-launch rates has become a challenge. Construction costs, competition in the market and buyers' budgets are influencing sales.
Meanwhile, buyers should not make decisions based on low prices alone. They must verify whether the developer is likely to complete and hand over the project on time, whether the project is registered with RERA and whether the necessary construction approvals are in place.
While pre-launch sales can help builders mobilise funds, selling the remaining inventory at the prices they expect is proving less straightforward.
Miyapur Faces Price Competition from Kukatpally
Apartments in Miyapur are priced at around ₹7,000–₹8,000 per square foot, while some projects in Kukatpally offer prices starting at ₹5,000 per square foot. This price difference is affecting the sales prospects of projects in Miyapur.
For example, a difference of ₹3,000 per square foot translates into a price gap of ₹45 lakh for a 1,500-square-foot apartment. As a result, buyers are comparing prices across locations before making their purchase decisions.
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