Property market in Hyderabad is concentrated along IT corridors like Hi-Tech City, Kondapur and Gachibowli. All categories of housing have been active in the city – multi-storey apartments, houses and villas. According to market sources, despite Telangana issue, demand has remained constant for both domestic and international property buyers. In some areas like Gachibowli and Hi-Tech City, demand for villas matches multi-storey apartments demand.
Infrastructure development like the International Airport, completion of the Outer Ring Road (ORR), about 30 radial roads, MMTS, metro, procurement of water from Krishna and Godavari rivers, etc are all attracting global MNCs and investors to start their operations in Hyderabad.
According to G Yoganand, CMD, Manjeera Group, “The city has witnessed second highest occupancy of IT spaces in India during last one year. Hence, this is the best time for property buyers because Hyderabad may witness property boom in the mid-term. IT Corridor is the best place for investment. The mode depends on the budget. A plot in a good location is always the best but you will not get loan.”
IT corridor areas like Gachibowli, Kondapur, Madhapur, Nallagandla, Nanakram Guda, Kokapet, APPA junction, Hi-Tech City are ideal for investment.
According to MagicBricks.com, Hi-Tech City has seen an increase of 17% in values of multi-storey apartments in the Jan-Mar quarter this year compared to Oct-Dec quarter in 2011.
When talking about where the maximum demand is coming from, Yoganand added that Hyderabad has investors from across the country. “Even now, many people from Andhra region are buying and they are not worried about Telengana. Whether Telangana or no Telengana, Hyderabad is the best place in India to invest for better appreciation. Hyderabad has the best infrastructure, cosmopolitan culture, no language barrier, less pollution, better weather conditions, and better connectivity by road, rail and airways to all important cities of India. Prices are also reasonable,” he added.
Infrastructure is a key reason for the increase in demand in Hyderabad as well as for the rise in property values. A major infrastructure development has been the commencement of the Phase I of Metro covering Nagole and Gachibowli, market sources say. Rakesh Sudam of Earthwide Properties pointed out that infrastructure like the Phase I of Metro will affect localities like Nagole, Uppal and Gachibowli. “Values are already rising here and are expected to rise by 5 to 10% in the next 3 to 6 months,” Sudam said.