Kollur in Hyderabad sees real estate growth | Magicbricks.com ...

Hyderabad

Many builders, especially small developers are coming up with new projects in places like Kollur village. `Kollur Village is located along the ORR and is easily accessible from Gachibowli. Considering the high real estate prices in Gachibowli financial district, there is a spill over effect of demand for housing. In Kollur independent houses and villas are available for Rs 40-50 lakh and it is targeting people who work in Gachibowli financial district,? says Nitin Bichala, MD & CEO, Brook Realtors.

Kollur is the second village after Tellapur, located along the ORR. It is also outside the purview of GO 111 that bans organized residential and commercial development to protect Osman Sagar and Himayat Sagar lakes.

Currently, it is the small developers, who have taken an active interest in Kollur. `But many big developers are also actively looking at new projects here. They have already taken land and in 3-4 years, there will be full-fledged building activity here. As of now, small projects are under construction and it will take another year for them to get completed,? says Bichala.

The distance between Kollur and Gachibowli Financial District is 13 kilometre and projects such as Golden Gate Properties and Elite Vllas and Blossom Heights are gathering momentum there. Also, residential plots are up for sale in Kollur.

But many feel it Kollur is a place suitable only for long term investment. But it is too early to predict the rate of development. The land prices have appreciated in Kollur suddenly but it does not encourage projects in short term due to the lack of public infrastructure, which may shy away the serious developers.

It is too far-fetched to expect great development in Kollur because there is still concentration on places like APPA and Tellapur where in development has not reached the saturation point,? says Anand Reddy, Executive Director, PBEL City.

According to him, Kollur is still in the stage of land acquisition and it would take many more years to reach the stage of the southern side of Gachibowli. `It would take 4-5 years to completely develop the social infrastructure in areas like Kollur. it would be better for a long-term investment. Once there are more projects announced, then we definitely see better affordability in Kollur,? he says.

Source: Times Property, The Times of India, Hyderabad

Source: http://content.magicbricks.com/kollur-in-hyderabad-sees-real-estate-growth/

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