Hyderabad: Nearly a year after the state govt unveiled the ambitious Bharat Future City project, real estate developers appear to be treading cautiously, with most investment activity confined to a handful of locations along the Srisailam and Nagarjuna Sagar highways while many others await greater clarity on the city’s development roadmap.Since the announcement of Bharat Future City, the Future City Development Authority (FCDA) has received around 80 layout applications for open plots and 10 proposals for housing projects, including gated communities.
However, only 18 layouts have secured approvals so far, while the remaining applications are pending due to various issues, including deficiencies in documents and other compliance requirements. Sources said nearly 20 applications have been awaiting clearance for several months.Officials said developer interest remains concentrated in a few villages such as Lemuru, Kandukur, Thummalur and Kadthal along the Srisailam Highway, and Yacharam on the Nagarjuna Sagar Highway. Most of the layouts approved so far are relatively small, ranging between nine and 10 acres.The FCDA has also received 281 building applications within its jurisdiction. Officials said nearly 90% of these relate to individual building permissions, with only a few proposals involving high-rise projects in areas such as Tukkuguda and Adibatla.“There is a slump in the real estate market, and developers will generally prefer the safe locations for real estate development. Since Future City is an upcoming city, where there is no activity except in some packets like Meerkhanpet, Kandukur, Yacharam areas, many big realtors and developers are watching. Some developers are waiting for the master plan for the Future City to be ready to know the development plan,” the president of a realtors’ association told TOI.Industry sources said many developers are adopting a wait and watch approach until the govt unveils a clearer picture of the city’s infrastructure and growth corridors.Last month, the FCDA appointed a consultant to prepare the master plan for Bharat Future City, a process expected to take around nine months. The state govt has earmarked nearly 30,000 acres for the project, with about 14,000 acres proposed for specialised developments, including an AI City, life sciences hub and sports ecosystem.Meanwhile, some developers have expressed concerns over delays in obtaining layout and building approvals, attributing the slow pace to staff shortages within the FCDA.Sources said complaints regarding delays in processing applications, particularly layouts exceeding 10 acres, have even reached the chief minister’s office.At present, the FCDA is functioning with a limited workforce comprising two assistant city planners and one deputy city planner under the supervision of a director-rank officer, raising concerns about its capacity to handle the growing volume of applications linked to one of Telangana’s flagship urban development projects.
