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In pics: Hyderabad latest real estate trends

Mittwoch, 29. Oktober 2014

Despite reconciliation of the Telangana issue and the new government assuring builders of making the environment friendly for realty investments, Hyderabad seems to be in a wait and watch mode, finds PropIndex, the quarterly research report on the real estate markets across India (Jul-Sep 2014). Here are some findings of the report in pictures. H3

Source: http://content.magicbricks.com/industry-news/hyderabad-real-estate-news-industry-news/in-pics-hyderabad-latest-real-estate-trends/77561.html

Hitec City is the preferred realty hub

Dienstag, 28. Oktober 2014

Hyderabad Information Technology and Engineering Consultancy City, or Hitec City, is the most coveted commercial and residential hub of Hyderabad. Major software industry players have invested heavily here and the surrounding suburbs are the most sought after areas of Hyderabad city.

It is located 10 km from Banjara Hills, 2 km from Jubilee hills, 35 km (via Outer Ring Road [ORR]) from the airport and 15 km from Nampally railway station. The suburbs of Madhapur, Kondapur, Gachibowli, Manikonda and Nanakramguda are interlinked well with Hitec city. The MMTS service has a station in Hitec city and there is a Telengana State Road Transport Corporation (TSRTC) bus station that has buses plying to all areas of the city. The area boasts of top notch schools, colleges, residential complexes, hospitals and malls.

The very attractiveness of Hitec city has also mushroomed all kinds of construction and many residents feel the roads and other civic utilities have not caught up with the influx of people here. Raunak Udani from the social media industry, feels that “The traffic in the last three years has become very heavy. This is probably because there are so many new buildings randomly coming up everywhere and bringing in more people. These constructions look unplanned and are disrupting the layout of the area. The basic rent has increased by approximately 40% over three years. On the brighter side, there are plenty of places to hang out here and I hardly ever get out of the area. The power cuts are a nuisance. There is a power cut from 8 am to 10 am and that’s exactly when we are getting ready to go to work.“

The area is attractive for families too. Satish Kumar, who works in the marketing field says, “I bought a flat in Manikonda two years ago for Rs 2400 per sq ft. There are many prominent TV and film stars living here, so luckily the area stays well-maintained.It’s well-connected, it’s just 67 km from the ORR. It’s away from traffic and has a good young crowd. There are open spaces around the buildings and I like to take walks with my family sometimes. There are high storeyed buildings coming up on one side, but I can still see heritage sites on the other side from the terrace. It’s a beautiful site. I am at the intersection of heritage and Hitec.“

As the area houses many young professionals, it has adapted to be more liveable for them. Small business owners have encashed on opportunities that cater to this group’s necessities. “I was recruited by a software company in Hitec city and got posted in Hyderabad. I had no idea about the localities here. I found out about Hitec city through the online notice board at office. The main reason I chose to live here is because of its proximity to my office. I could also easily find other professionals to share the house with. We are from the same field and have the same schedules. There are many types of houses here and I found a spacious semi-furnished house. There are a lot of conveniences here for people like me. There are messes with different types of cuisines. The many take-aways and home delivery options always come to your rescue. Share autos make commute easy , quick and cheap. Sodexo coupons are widely accepted around here“ said George Jose Varghese, a young techie living in Gachibowli since a year.

The surge in the population heading towards Hitec and its suburbs is straining the available resources. Government infrastructure is proving inadequate and the resident’s pockets are taking the hit. “I used to live in Tarnaka, but moved to Hitec city a year ago. This area is definitely more expensive by 30-40%, but I was spend ing over an hour travelling. Despite the office cab service, I felt like I was losing a lot of time and it was very tiring. I now pay Rs 13000 for a 1-BHK.But there are many conveniences here. I get everything at just a 3 km distance from my house. There are malls like Trinity and Inorbit where I spend my weekends. But there is a serious water problem here. We are completely dependent on water tankers for water. There is a bore-well in the building, but it’s dried up. That’s an expense I have to bear“ stated Anup Verma, an analyst who recently relocated to Hitec city .

People who have invested in property in and around Hitec city , are seeing its value multiply . The area has a mix of peace and quiet and commercial spaces. Its placement and the developments in and around have greatly influenced the habitant’s quality of life.

“My husband and I bought land here 10 years ago and shifted here three years ago. I have seen many buildings come up over time, but greenery has been maintained. There are a lot of places where families can spend time. Having more local parks would be good for children.“ Investments in the Hitec city area are yielding profits. The area has seen much growth over the last ten years and further development is underway . “I bought a flat in a gated community in Kondapur eight years ago as it was going to be the next developing area of Hyderabad. Over time, I have seen a 100% appreciation in the land value. It has a good cosmopolitan crowd. The infrastructure is up-to-date. However the government infrastructure hasn’t developed as fast as the private infrastructure. That is why there is so much water crisis.Complexes have had to take sewage treatment into their own hands and build plants for the complex. Living here is very pleasant“ stated Vinod Arya, a businessman. The area is the developing part of town and is right for people who are looking for more than just a house. It is in the growth stage of the market cycle.

Source: http://content.magicbricks.com/industry-news/hyderabad-real-estate-news-industry-news/hitec-city-is-the-preferred-realty-hub/77556.html