Hyderabad
Hyderabad
The paradigm shift in the Hyderabad real estate industry can be attributed to enhancing city’s
The paradigm shift in the Hyderabad real estate industry can be attributed to enhancing city’s infrastructure and facilities day by days. According to Sandeep Mishra from Shree Estate Agency, “The initiatives taken by State Government as well as private sector in improving city’s basic infrastructure such as transportation, connectivity, improved basic civic amenities etc has resulted in tremendous growth of city’s realty sector in the Central Business District (CBD) as well as upcoming suburban areas”.
The commercial capital values have seen an average appreciation of 10-20 per cent across the city whereas the rentals have noted an average increase of 30-50 per cent in past one year, says Arun Pratap from Vaibhav Infra. He further added, that the projects such as construction of new international airport at Shamshabad, the 8-lane Outer Ring Road on Hyderabad’s periphery and better connectivity by efficient MMTS rail have improved connectivity to all parts of the city and to the neighbourhood cities as well as with the country manifolds. This has given an extra edge to the industrialist, developers and investors to make investment in the city.
The growing infrastructure has not only prompted IT companies to expand their business but also promoted other local secondary and tertiary industries to develop and henceforth increase demand in the commercial sector added Kumar Naidu from Global Properties. Areas such as Jubilee Hills, Banjara Hills, Begumpet, Panjagutta, Ameerpet have witnessed a 15-20 per cent escalation in values during past one year owing to increase in demand and connectivity, he added.
According to Vijay Kumar Dambula property advisor from Srigdha Projects and Constructions, “the growth of Special Economic Zones (SEZs) and project by big IT giants such as CISCO, L & T etc in the city have already boosted the property market by creating job opportunities and demand for premium commercial office space”.
Other projects such as the construction of 159-km Outer Ring Road (ORR) has resulted in emergence of new growth corridor known as Sagar and Vijayawada Highway. This has also uplifted commercial property sector in the upcoming areas such as Tellapur, Maheswaram, Miyapur etc. as told by Mishra.
Other projects such as the construction of 159-km Outer Ring Road (ORR) has resulted in emergence of new growth corridor known as Sagar and Vijayawada Highway. This has also uplifted commercial property sector in the upcoming areas such as Tellapur, Maheswaram, Miyapur etc. as told by Mishra.
The Hyderabad Urban Development Authority (HUDA) is taking initiatives to further enhance the connectivity by linking the inter-state highways and roads with the ORR thus, making it an important social infrastructure for the augmentation of commercial sector.
Nidhi Vashisth, MagicBricks.com Bureau