Areas like Gachibowli, Madhapur, Uppal, and Pocharam in which the proposed ITIR is set to be developed have already a land appreciation rate of between 5-10% annually, which is set to appreciate further as the work on this project gains momentum. Since developable land in these areas is scare, prices for residential properties will come at a premium, more so, with the coming up of the ITIR. In the case of other areas like Mamidipalli, Adibtala, Raviryala and Maheshwaram, which come under the purview of the proposed ITIR, where developable area is easily available, there is considerable potential for developers to tap into these markets at an opportune time so that they can bite into a larger piece of the pie.
Status is not known yet but there is going to be a new ITIR region set up in Hyd with an investment of Rs 2.19 lakh crore. It will generate jobs for about 15 lakh people. It will cover an area of 50,000 acres and a ton of IT companies will benefit from this.
Hi Vasudev, ITIR means The Information Technology Investment Region. Hyderabad is an upcoming IT investment region jointly being developed by Govt of India and Govt of Telangana