The boom in the Hyderabad real estate sector has still not been able to satisfy the growing demand from corporate looking for ready-to-occupy properties. IT and ITes are continuing to drive the market. IT professionals are vying to buy an apartment in Hyderabad.
Moreover, it's the commercial market which is driving the residential property segment in the city. Hyderabad real estate developers feel that, in next few years BPOs and call centers, software offices and back offices of financial institutions will occupy the maximum space. Property consultants expect the upward trend in prices to continue, even as the State Government frees up land in different parts of the city and the outskirts. Land availability will facilitate the creation of corporate office space.
In Jubilli Hills, central business district of Hyderabad, capital prices of plot range from Rs 80,000 to 2 lakh per sq ft. Retail property in CBDs is around Rs 3,500- Rs 10,000 per sq ft. Multiplex are the trendy and upcoming way of commercial activities ranges from Rs 10,000 per sq ft and goes above. The rental value in this area is Rs 30,000-60,000 per month which is high in comparison to other commercial localities.
Many new commercial projects are on the cards by big national developers. Raheja group has acquired 100 acres in Gundla, Pochampalli, Delhi based DLF has acquired 3 million sq ft land for commercial activities, Godrej Properties will be setting up an IT Park on 34 acres of land at Pattancheru, Parsvanath has a mall-cum- multiplex, and a hotel project coming up in the city, Ramkey group is venturing into commercial development in the city.
Hyderabad properties are fast becoming the preferred choice for investors. The city not only provides quality infrastructure for property investments but also has more than 40 SEZs, approximately 1100 Software IT Parks and campuses, an international airport. Mall culture, new airport and subsidy in stamp duty and registration charges of property are other key factors of high rise in the value of Real Estate in Hyderabad
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