Hyderabad Real Estate

Hyderabad, the capital of Andhra Pradesh, is a fierce competitor to Bangalore as fat as the information technology sector is concerned. Like the Karnataka capital, it also has attracted a number of reputed IT companies from all over the world which has created a spurt in the demand for real estate in the city.

Like many prominent Indian cities in the recent past, Hyderabad has seen a significant growth in the real estate sector, because of the flourishing It industry as well as the retail segment. Since the 1990s, there has been a lot of commercial activity in the city because of the emergence of these industries. The face of Hyderabad has changed a lot during this period with several swanky shopping malls coming up across the city. The demand for real estate, both residential and commercial, has soared in an unprecedented manner leading to exorbitant prices, which many experts feel are in need of immediate correction.

In view of the growing need for improved infrastructure required by various sectors, the Andhra Pradesh government is constructing a high-rise business district at Manchirevula, to be dominated by a 450-meter tall APIIC Tower at its centre. The Lanco Hills near Gachibowli has the distinction of being the tallest building in the country for commercial and residential uses.

The Hyderabad Urban Development Authority (HUDA) is investing a massive Rs 6,000 crore for an 8-lane access controlled expressway that will certainly give a boost to the real estate sector. As a result of the expressway, the areas along with Shamshabad to Gachibowli are likely to witness a lot of development. The HUDA is also planning to build some new townships.

Real estate developers in the Andhra Pradesh capital are especially upbeat over residential properties as there is a perceptible rise in middle class family incomes. As the service sector also maintains its upward growth, this would lead to a growth in the real estate market also. Developers, however, have to contend with steep interest rates, RBI regulations, and vague titles. They would also have liked the existence of real estate investment trusts.

The real estate sector in Hyderabad is also likely to be boosted by some Special Economic Zones (SEZs) to be built by leading developers of the country in and around the city. These developers include Hirnandani, Parsvnath, GMR etc. All in all, the real estate scenario in Hyderabad looks bright and the city is likely to give its competitors a run for their money in coming days.