Real Estate Scenario in Hyderabad

By: George Gonigal

The strong foothold of IT industry in Hyderabad has positioned the city among the top per capita income cities of India. Smelling the business opportunities in this area, real estate developers have already launched large projects in and around. More importantly, buyers too are quite enthusiastic with the developments.

With property values scaling unprecedented heights in the cyber city of Hyderabad, investment in real estate has become the most preferred investment instrument in the city. 'Investing in is an excellent idea. I've been working in the city for the past 5-years, and seen that investment in property can bring you returns anywhere from 10 to 200 per cent a year,' says Raj Shekhar, a software professional.

Nonetheless, in the past six to seven years, property values in Hyderabad have risen like a phoenix. Recently, an acre of land at Kukatpally was sold at a staggering cost of Rs 22 crore. In terms of square feet, that comes about Rs 5,050 per square foot.

Also, we cannot ignore role of IT and ITeS industry in the development of commercial properties in Hyderabad. K Raheja has launched an Information Technology Park in Shamshabad while Indu Projects have also launched IT Zone in the area. Similar are the developments at Madhapur, which is home land for Hyderabad's famous HITEC City. This peripheral location is witnessing enormous interest from the technology giants from all across the world. Recently, global technology major CISCO hired some 17,000 sq. ft of space at Madhapur.

Also, the real estate markets of Hyderabad are slated to enjoy a boost with major infrastructure projects under progress at different parts of the city. Shamshabad would be the major beneficiary of GMR international airport plan, and real estate majors, in order to take on the underlying opportunities in the belt, are making beeline to acquire land. The airport would become operational by March 2008.

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