While lauding the success of the western corridor – the city’s IT hub – KTR said that there was a need to disperse this growth to ensure that only one part of Hyderabad is not burdened.
“In fact, we have approved five IT Parks in the Uppal-Nagole-LB Nagar area (east) and I am soon going to lay the foundation for an IT Park in Kompally, which is in the northern part of Hyderabad. This is going to allow the city to grow in dispersion,” KTR reiterated while speaking at a real estate event.
He highlighted the state’s GRID (Growth in Dispersion) Policy launched earlier this year and appealed to investors to “familiarise themselves” with it and “work closely with the government” to make the best use of the benefits.
The GRID policy aims at incentivising firms to set shop away from the Madhapur-Gachibowli belt. Echoing the minister’s views, city developers agreed that the two alternate corridors have great potential. “Unlike the western corridor, the availability of basic amenities such as water supply is in abundance in the east. There is sufficient availability of space, the infrastructure is good (thanks to the Outer Ring Road) and the region is also home to a large pool of local talent that now travels all the way to the western part for employment,” said Tapas Patel, CEO of Om Sree Builders and Developers, a leading name in the eastern part of the city.
According to rough estimates, roughly 20% of the workforce in Hyderabad’s IT sector lives in the far east or north of the city.
“The growth of any market is driven by government policies. That’s how the western corridor prospered. Now, with policies aimed at giving other corridors an impetus, they are bound to do well too. It is going to take time, but isn’t impossible,” said Ashwin Rao, director of Manbhum Constructions while pushing for such dispersed growth.
“Bengaluru too has multiple growth corridors. It’s a sign of healthy development,” he added.