Hyderabad Real Estate: An Update
Overview:
Hyderabad’s realty market which had been witnessing a prolonged slump is in a gradual phase of recovery. Ready-to-move inventory is finding takers and an improved off-take in residential stock was observed during the financial year of 2012. The IT/ITES corridor in the western and north-western regions of the city have been showing signs of recovery. Prominent builders have been receiving the desired response for their new launches in the region. The peripheral areas along the northern and eastern corridor along with other micro markets are witnessing appreciation as well. With the advent of the soon to be launched Metro and other infrastructural developments, the realty market of Hyderabad is generally tightening up.
Office Realty:
The leasing volumes in April continued to remain modest. Over the month, Hitec City and Gachibowli were the preferred location for occupiers to lease space in. In April, the leasing spaces of Vatika Business Center in Hitec City and Aveva renting space in Nanakramguda were the key transactions. There weren’t any major new completions over the month.
Even with the rapidly depleting provision of fine quality office space within key locations like Hitec City, few buildings continue to be leased at a premium. nevertheless, capital values and market average rents remain stable.
Retail Realty:
Retail leasing in high streets continue to stay upbeat as compared to the malls in April. Pai Electronics leasing space in Attapur and Kompally; Ratnadeep Super Market leasing space in Bowenpally and Towlichowki; and Supreme Electronics and Docomo leasing space at Banjara Hills Road No 1 were the key transactions over the month. Capitals and rent values remained stable over the month.
Residential Realty:
Residential sales improved compared to the preceding month, in April. Over the month, new launches improved with few projects at soft launch stage. Meaning: the projects are yet to be launched formally in the market; however the bookings have already been initiated.
Mantri Euphoria, a villa development and the second project of Mantri Developers, in Narsingi; and My Home Vihanga by My Home near Wipro Junction in Gachibowli are few of the projects in the soft launch stage.
Additionally, Atria was launched by Rajapushpa Properties in Gachibowli. Rents and capital values continued to increase marginally across all submarkets as newly launched residential projects got sold at a price higher than the market average, over the month.
Improving Infrastructure:
Hyderabad’s ambitious Metro Rail Project is progressing at a rapid pace. Ongoing work of constructing piers continues at a frenetic pace, along the stretch from Rasoolpura to Begumpet which is amongst the key stretches on the arterial road connecting IT hubs in the western part of Hyderabad with the eastern residential locations. Heavy flow of traffic during peak hours is experienced on this stretch.
Related Real Esate News:
Real estate trend in Hyderabad
Residential real estate in Hyderabad to good in near future
Gachibowli, Hitec city, Hyderabad's realty market, IT/ITES corridor, realty market of Hyderabad, Vatika Business Center
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