Plummeting Economy has not Effected Rates of Properties in Hyderabad

According to the Residex value by NHB(National Housing Bank), there are twelve Indian cities where residential rates have appreciated by 12%. One of these is Hyderabad. In the third quarter, i.e. Jul-Sep, this city saw an escalation of 5%. Hyderabad, akin to other tier-I cities, is undergoing plummeting in the overall demand, yet the prices have not got down that low. During the same quarter, the Residex of the city was reported at 88; the value was 84 in Apr-Jun quarter.

Properties in Hyderabad, in the western region, have been in news since they were 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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