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    HomeHyderabadProposed Pharma City casts doubt on real estate market in Rangareddy

    Proposed Pharma City casts doubt on real estate market in Rangareddy

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    The real estate market near the proposed pharma city at Mucherla village has stopped due to uncertainty over the buffer zone. The Hyderabad Metropolitan Development Authority banned layouts, buildings, and warehouses within a radius of seven kilometres around the pharma city in parts of Kandukur, Yacharam, and Kadthal mandals. This has caused many to wait for clarification on the buffer zone before buying or selling land. Residential layouts cannot be laid in the buffer zone, and only industries and warehouses are allowed. The government is considering acquiring more than 2,000 to 3,000 acres of land for the buffer zone, which has caused concern for people living in nearby villages. The pharma city master plan has been prepared by a leading agency for ecosystem development. The central government has designated this pharma city as a National Industrial and Manufacturing Zone (NIMZ), and environmental clearances have been granted.

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    The real estate market around the proposed pharma city at Mucherla village has hit a standstill, as buying and selling of lands has almost stopped. The recent stagnation is due to the unclear demarcation of the ‘buffer zone’ around the pharma city. According to sources, there is a proposal to have a buffer zone of seven kilometres from the survey numbers specified for setting up the pharma city, but there is confusion in setting up buffer zones within three or five kilometres. Until the government finalises the buffer zone limits, the real estate business in the region will continue to stagnate.

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    The government had promised to allocate two kilometres of land around the pharma city for greenery and to prevent pollution. However, due to pollution concerns, the government is now trying to establish a buffer zone around the pharma city as per the directives of the pollution board. Locals are concerned that the buffer zone may lead to the loss of employment opportunities for the people living in the area.

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    The total area of the pharma city is 19,333 acres, with 9,123 acres of land being government-owned and up to 10,210 acres of land being privately owned. The survey numbers for land acquisition for the pharma city have already been identified in Mucherla, Meerkhanpet, Panjaguda villages of Kandukur mandal, Kurmidda, Medapalli, Nanaknagar, Tadipatri villages of Yacharam mandal, Mudvin, Karkalpahad, and Kadthal villages of Kadthal mandal in Rangareddy district. The construction of roads, electricity lines, drainage, and other infrastructure works are being carried out under the auspices of TSIIC in the already acquired lands.

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