Telangana, second hottest real estate market in India
Real estate sector is booming in the suburbs of Hyderabad, making Telangana the second hottest market for real estate in India after Gujarat. This is mainly because of three areas under Greater Hyderabad Municipal Corporation (GHMC) limits -Serilingampally, Rajendranagar and Quthbullapur.
Serilingampally and Rajendranagar are located very close to the IT corridor areas of Gachibowli, Kondapur, Madhapur and Nanakramguda, indicating that the Information Technology (IT) boom which catapulted Hyderabad to the global stage decades ago, still has an impact on the real estate sector.
Analysis reveals that from January 1- April 30, 2018, the State Environment Impact Assessment Authority (SEIAA) of Telangana received 98 applications seeking Environmental Clearance under the category of ‘New Construction Projects and Industrial Estates’.
These are all big-ticket projects because as per a 2006 notification of Ministry of Environment and Forests (MoEF), construction projects having built up area between 20,000-1,50,000 square meters have to apply for Environmental Clearance to the SEIAA.