Real Estate Hyderabad Witness Price Hike in spite of Slumping Economy

As per the reports by NHB(National Housing Bank), the prices of residential properties have gone up in 12 major Indian cities, including Hyderabad. In the quarter of Jul-Sep, the rates of houses saw an escalation of 5%. In spite of the fact that city is not faring very good in terms of real estate development, the prices have not gone too down. This is a good sign for the city's realty market. In the same quarter, the Residex stood at a rank of 88, while in previous quarter it was 84.

Real estate Hyderabad, in the western region has been in news since it was allotted 3 million square feet of office space. Such a whopping addition would be a boosting factor for city's real estate market. This could also result in further increase in the capital rates. The rental rates in West colonies are already more than that in other Indian cities; standing at an average of 40/sft Over past 12 months, the rental rates here too have followed the suit.; they have escalated by 12% over this period. With the allocation of extra land, the western part shall see booming of more IT companies; thus generating more employment opportunities. That would mean that more population will commute from other parts of the city to here.

 

Apartments for sale in Hyderabad are witness to the set-up and commendable growth of IT companies and business centers. Localities like Jubilee Hills, Banjara Hills, Hi-Tech City, YusufGuda, and Kukatpally have already established themselves as nerve-centers of software sector. If compared to the colonies of East Hyderabad such as Uppal, Dilsukhnagar, Bahadurguda, and Malkaj Giri, the western locales have done far better in terms of IT/ITeS sector. Establishment of an IT investment region worth 2,00,000 crore is also on cards. This will be like a shot in the arm of western part.

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