The days of uncertainty are over for Hyderabad with the bifurcation of Andhra Pradesh that led to a new state of Telangana. Hyderabad is emerging as the new destination for Indian realtors and Multinational Companies. The Telangana Government in a bid to boost the investment environment is planning to frame legislation in alleviating the growth of construction and real estate that includes making the rules/laws of doing business flexible, faster and bringing about transparency in the processes.
Some of the key highlights of the Hyderabad real estate scenario that can work wonders for the Hyderabad real estate sector for the next ten years include-
- Central Government clearing Rs.416 crore for 12 cities in Telangana that include Hyderabad under Atal Mission for Rejuvenation and Urban Transformation also called AMRUT to improve the basic infrastructure of cities in India.
- The revising of the lease and rental policy of the lands allotted to government departments by the Telangana Government is going to boost the real estate sector in terms of availability of land for construction purposes.
- The major deals that are signed during 2015 that are going to provide for a real boost or boom for the real estate market of Hyderabad are-
- Google setting up its first campus in Asia in Hyderabad with an investment of Rs.1000 crore,
- Celkon mobiles proposing to invest Rs.250 crore for manufacturing of mobile phones in Telangana and
- Uber having taken up 150,000 Sq.ft space on lease in Hyderabad for its massive expansion drive is going to play a positive role in real estate development in Hyderabad.
The other finer aspects of Hyderabad real estate sector includes the pricing of the properties in certain localities or areas of Hyderabad that are far lower when compared with other metros across India in tandem with their infrastructure facilities. For instance, the average launch price of properties in prime areas such as Kondapur, Gachibowli, Kukatpally, Hi-Tech City, Nizampet, Bachupally etc are available within the price range of Rs.2,200 to 4,800 Sq.ft.
In addition, the city of Hyderabad witnessed maximum launches of villas and row houses by nearly 14% during 2015 that nowhere is to be seen in other metros of India. The plots and layouts witnessed a growth of 37% in 2015 with the average price per sq.ft. ranging below Rs.1,000 sq.ft. in top localities of Hyderabad. The way Hyderabad is emerging as the buyers’ market is because property prices in this city are almost 60% of those of Chennai and Mumbai.
Areas such as Srisailam Highway that is located in south of Hyderabad is now bustling with real estate activity. This highway and its surrounding areas are emerging as the hot bed for real estate development. Certain factors such as its close proximity to Rajiv Gandhi International Airport, TCS special economic zone (SEZ), presence of healthcare facilities and presence of renowned educational institution is making it a lucrative investment proposition. Overall, the real estate scene of Hyderabad is expected to grow at a faster pace for the next decade.