Sultanpur in Medak district is the hub of major investments that are taking place in Hyderabad. It is located at a distance of 16 to 18 Km from important hubs such as hi-tech city area, Microsoft campus, financial district etc. in Hyderabad City. As the city is experiencing a tremendous growth and consequent economic activity, the government felt the need to provide better infrastructure facilitates. Hyderabad would be an integrated financial hub with infrastructure facilities for financial services operations for banking, insurance and asset management companies. As a result of this, there have been a few investments around Sultanpur which include:
RAKIA is the investment arm of the UAE government which had asked for a total of 2000 acres for the project. It is the government body responsible for the socioeconomic growth of the Emirates. The MoU was signed by Wahid Attalla, Member of the Board, Rakeen, the real estate development arm of Ras Al Khaimah Investment Authority (RAKIA), and APIIC Chairman and Managing Director B P Acharya, in the presence of Andhra Pradesh Chief Minister Y S Rajasekhara Reddy. RAKIA is also developing several other townships across the country through RAKINDO, RAKIA’s joint venture company in India. Over 3,000 acres of land has been earmarked for various projects in Coimbatore, Chennai, Kumarakom, Hosur and Cochin, each with a projected cost of $2bn.
Ras Al Khaima Authority (RAKIA), and APIIC signed a memorandum of understanding in September last for the development of HEC with a proposed investment of Rs 20,000 crore. With this proposed project in Sultanpur, Medak district will witness a significant change in terms of infrastructure and employment facilities. Sultanpur is located abutting the outer ring road and is presently accessible from the Mumbai highway via the Beeramguda crossing which is two Km after BHEL. A three and half Km drive would bring you to Kistareddypet village. The limits of Sultanpur commence barely half a Km to the right of Kistareddy pet which has already been witnessing real estate development in the form of gated communities, residential layouts and apartment complexes.
This is the largest real estate and infrastructure project coming up in Andhra Pradesh and is expected to provide quality employment to thousands of people. The Andhra Pradesh government recently allotted 471 acres of land at Sultanpur village of Medak district for the first phase of Hyderabad Economic city which is being jointly developed by APIIC and RAKIA. Residential areas adjacent to Sultanpur such as Ayilapur, Kistareddypet and patelgudem will be the most sought after destinations and are likely to appreciate in value considerably. RAKIA is a world renowned and much respected investment body that is cash rich. Executing a project of this magnitude is well within their capability.
Outer Ring Road (ORR)
With the ongoing project of ORR by Hyderabad Urban Development Authority with a total length of 162 Kms, the villages around Sultanpur such as Kistareddypet is likely to experience a large scale development along the ORR Corridor. The outer ring road is passing through the village limits and 100 acres of land has been acquired for this project. It is therefore no surprise that lands situated in the growth corridor are much in demand and have been multiplying in value.
For Latest Property News in Hyderabad