Real estate in boom in Hyderabad

Oct 04 ,2012 10:10 AM
Real estate in boom in Hyderabad

Hyderabad might be have become a costlier place to live in terms of daily expenditure but that doesn't stop IT companies off shores to set up their giant branches in this Nawabi City. And guess why? There are basically two reasons behind this—the native city Bangalore is much costlier when it comes to hiring an apartment and the second one being Hyderabad offers everything when compared to other cities and the cost of the land in the Hi-tech city and Kondapur areas is much affordable.

Everyday is not a Sunday, goes a pro-verb. This is, in fact, very true. Going by the 'law of the demand' formula of economics, the property market prices are all set to escalate at least by 40 per cent in many areas of Hyderabad including Gachibowli (where Hi-tech city exists) and Begumpet (where the old airport exists besides many industries).

Now that the buzz is spreading viral in the market that there would steep increase in the real estate market in Hyderabad, the attention of the realtors turned towards Hyderabad yet another time. If we take a close look as to why there would be increase in real estate prices, many IT experts opined that Hyderabad is a better place to live compared to other IT cities in the country. In terms of security to women, Hyderabad is way ahead, they added. Also, they said that the offices in Hyderabad are close by to the residential areas, which will not be a problem to the IT employees, who would apparently search for apartments near the office itself.

Further, some companies are rapidly expanding their office space. A close look at the Hi-tech city will make people understand as to how some companies are building multiple offices to accommodate their employees. Above all, the hospitality in Hyderabad is something mentioned by scores of people. Therefore, when given an option to choose between different IT cities in the country for an employment, many youths preferred Hyderabad.   

If in future Hyderabad becomes much more costlier city than Bangalore in terms of property and office space, then there's no answer to the question as to what would be the next option to IT companies. As of now, Hyderabad is the most happening city in terms of not just tourism but even the IT sector.

(AW Phani)

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