Hyderabad forms a formidable IT hub trinity along with Bangaluru, and Pune. Hyderabad with its impressive IT, Pharmaceutical and Manufacturing industries is attracting the attention of global real estate players. The Hyderabad real estate market is the most price conscious market in India that has seen many vicissitudes in the recent years due to political agitations and turmoil. However, after the formation of the new state of Telangana, Hyderabad real estate market is picking up in terms of demand for residential and commercial property.
During 2015, the Hyderabad real estate market saw a low point in terms of absorption rates of about 14% with consumers observing wait and watch policy even though the real estate market having performed much better that its peer TIER-I cities and stands at a much more comfortable unsold stock situation. This year, there is a demand for office and residential spaces in the city with majority of new and high quality office space being occupied in areas such as Madhapur and Gachibowli.
In addition, the residential projects are also selling like hot cakes due to infrastructure improvements, lower interest rates, positive employment market and lower prices when compared with other cities of India. Hyderabad is emerging as the low cost metropolitan city when compared with other Indian metros with good quality of life, quick growth of infrastructure development and strong backing from the government of Telangana. The western part of Hyderabad is gaining the most from the improved reality climate.
The absorption rate in Hyderabad reality is quite significant with the growing demand for office space that is also leading to an increased demand for homes in the city. The western and northern parts of Hyderabad is seeing a good amount of growth in recent years with areas such as Gopanpally, Tellapur, Appa Junction, Manikonda, Chandanagar with gated communities having a price tag of Rs.40-60 lakhs.
The current property rates in Hyderabad for both residential and commercial areas/locations are being presented in a tabulated format here in below-
Property Rates as on between Jan-March 2016
The strategic locations in the form of ring roads, schools, banks, hospitals office spaces, and hotels is helping some of the real estate development taking place in a hectic manner in Hyderabad. A spurt in the housing demand is resulting in a corresponding growth of capital value in many parts of this city.
The Hyderabad residential market space has saw a growth of around 5.2% on year on year basis in 2015. The same level of growth is expected by the end of 2016. Projects that are in completion stage in the western part of the city have seen the prices going up by about seven to ten percent during the quarter ended 2016. It is believed by real estate developers that there is still a lot of momentum to take place in the coming years for Hyderabad real estate market.