Commercial Realty Scenario in Hyderabad
Even though the real estate sector in Hyderabad has seen tremendous growth it still falls short of the growing demand from corporate sector looking for ready-to-occupy properties. The boom is especially visible among the IT and ITes where IT professionals are vying to buy an apartment in Hyderabad.
However, it's the
Hyderabad commercial propertymarket which is driving the residential property segment in the city. According to Hyderabad real estate developers; in the next few years, BPOs and call centers, software offices and back offices of financial institutions will occupy the maximum space. Property consultants too expect the upward trend in prices to continue. Land availability will facilitate the creation of corporate office space and even the State Government is helping in freeing up land in different parts of the city and the outskirts.
In Jubilli Hills, central business district (CBD) of Hyderabad, capital prices of plot range from Rs 80,000 to 2 lakh per sq ft. Retail property in CBD is around Rs 3,500- Rs 10,000 per sq ft. Multiplexs are the trendy and upcoming way of commercial activities and they are priced Rs 10,000 per sq ft and above. The rental value in this area is quite high too compared to other commercial localities. It ranges from Rs 30,000-60,000 per month.
Many new commercial projects are on the cards and big national developers are involved in it. 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.
Investors are keen to invest in Hyderabad properties. The reason being that the city not only provides quality infrastructure for property investment but also has more than 40 SEZs, about 1100 Software IT Parks and campuses, but also an international airport. In addition to this, subsidy in stamp duty and registration charges of property also contributes to the high rise in the value of Real Estate in Hyderabad.
Residential Realty Scenario in Hyderabad
The focus for development of
residential property in Hyderabad is fast moving to suburbs where land availability is considerable and hence large scale development is possible. Township projects are coming up in areas like Vattinagulapalli, Gaulidodi, Metchel road, Nanakrakuda and Maniconda.
Small residential property in Hyderabad are initiated by local real estate developers like Ashoka Builders who have announced a 250-unit project recently. This project will be located 15 kms away from the city and each unit will cost around Rs 80 lakh. The Jayabheri group and Aparna too have announced development of independent units costing between Rs 60 lakhs – Rs 1.25 crore with a downpayment of 25 per cent. There are several other local Hyderabad
Real Estate Builders who have various residential projects in the pipeline. They are Janapriya Engineers Syndicate, SMR builders, Saket Engineers, Amsri Builders and Sanali Group. Further, Pune-based DS Kulkarni Developers Limited (DSKDL), which is a part of the Rs.1,200-crore DSK group, is also planning to undertake residential projects in Hyderabad. DLF too has a mega residential project in the outskirts of the city.
Hyderabad is also witnessing a mushrooming of high-end premium residential properties and gated communities which promise the best in quality living along with various amenities. Today, the emphasis is more on centralised security, general ambience, shopping and recreational facilities. Better infrastructure with fine detailing and good quality specifications are what the builders are providing. Saket Mithila in Kapra, spread over 11 acres of greenery, is an extension of the Saket Designer Homes Township of 750 houses. Mithila, a gated property, consists of 100 exquisitely designed villas. Saket Pranaam consists of luxury homes exclusively for senior citizens. It is a secured gated community with a condominium of 400 flats spread over 4 acres.
The current residential property market in Hyderabad is very different from what it was some 4-5 years back. All builders are now providing amenities of international standards which was not there previously. The plot size of independent houses range from 250 sq yards to 650 sq yards while the built-up area ranges from 2,100 sq ft to 5,300 sq ft. Depending on the size and specifications, the price of these properties ranges from Rs 1.7 crore to Rs 3.3 crore.
'A' grade real estate developers are constructing integrated houses or villas. One villa covering 300 sq yards with all club facilities costs between Rs 1.5 crore and Rs 1.75 crore and the delivery is within 12 months. What makes this attractive is the percentage of appreciation at the time of possession which is anywhere between 60-100 per cent. Rental values in the residential segment have also increased about 40-60 per cent within the past 12 months. The growing demand and limited supply have shot up the prices for residential properties.
Author
Sukhpreet Kaur Sawhney writes on behalf of
Allcheckdeals.com , which is India′s first and only online brokerage for
Hyderabad Residential Property.It provide services to customers starting from property selection by all
developers, site visit, booking, documentation, home-loan and after-sales service.
