Real estate boom likely with Smart city status

Realtors are of the opinion that Karimnagar will be the most happening place

The real estate business in Karimnagar town, which had grown by leaps and bounds over the years and retreated after splitting of the district into seven, and the impact of demonetisation, are likely to get a fresh boost with the Union government including Karimnagar in the Smart Cities Mission programme.

With the Union and State governments according priority for all-round development of the town and creation of additional infrastructure under the Smart City programme, the realtors feel that the scenario would definitely see a sea change in the coming months as Karimnagar would be the most happening place in the State.

Manair River Front

Already, the State government had announced development of Manair River Front (MRF) along the shores of Lower Manair Dam on the outskirts of Karimnagar town to promote tourism on the lines of Sabarmati river front in Gujarat at a cost of ₹506 crore. Besides, the State government had proposed first high-level cable-stayed bridge across the Manair as part of tourism promotion.

Now, with the inclusion of Karimnagar town in the Smart Cities Mission programme, the Union government would provide financial assistance to the tune of ₹1,000 crore for taking up various developmental programmes.

The existing roads would be widened and beautified and additional facilities would be provided – such as parks, cycle tracks, an amusement park and other facilities.

As Karimnagar is likely to grow on a par with Hyderabad with the Smart city programme, there is every possibility of real estate boom in the town, opined Mohan, a real estate builder. Since the last few years, there were no takers for flats in the apartments. Several newly-constructed apartments were lying unoccupied as there were no takers due to slump in the real estate sector, he said and added that the Smart City programme and creation of additional facilities for the people would give a fillip to the sector.

Welcoming the inclusion of Karimnagar in the Smart City mission programme, Jayananda constructions owner Anand Rao said that the decision would give a boost to the real estate sector.

[“Source-thehindu”]