Hyderabad: Even as the recommendations of the Srikrishna Committee report-Hyderabad are still to sink into the politicians and the general public, the realty sector in Hyderabad is hoping that things would start looking up soon. The unrest in OU notwithstanding, realtors and builders said that the committee’s recommendations had sent out strong positive signals.
Several major players that had landed in the city over a year ago had kept their plans on hold with `T’ trouble erupting in December 2009. Now, with the committee’s report out, players said that things looked better for their business.
Realtors said that the recession and the `T’ unrest had “grounded” them, but noted that in the last two quarters things had started looking up with some genuine buyers finally landing at their doorsteps. In fact, it is learnt that real estate majors like Prestige, Lodha and DLF are now looking at giving shape to their planned projects. “It would be premature to assume that their plan is based on the committee’s report and has taken shape in the last 24 hours. But it is a fact, that developers (from outside AP) recognise Hyderabad’s potential and the report has sent out a positive signal,” said an industry source.
According to sources, the Prestige Group is currently busy with its Kismatpura venture and the Lodha group too is floating two new ventures. Likewise, DLF apparently is trying to sort out the legal issues to revive its residential project at Narsingi, which has been pending for some time. Similarly, My Home Group wants to take up the expansion project in Chandanagar project where it had purchased 25 acres of land sometime ago.
According to sources, some of the construction companies, which had collected nominal advance amounts from customers without actually getting the required permissions, are also going ahead with their project and getting ready to secure the permissions.
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