Hyderabad real estate market in recovery mode
Hyderabad-The real estate market of Hyderabad which witnessed a slowdown due to Telangana issue is all set to turn positive this year.The market has gained momentum with improved buyers sentiments.The last two quarters have received good response towards new launches along IT/ITES corridor.
The gradual rise in the price of properties is due to infrastructural growth and increasing IT population.The capital city has been divided into six major zones on the basis of location and real estate activity- West Hyderabad, North-West Hyderabad, North/North-East Hyderabad, East Hyderabad, Central Business District and South Hyderabad
West Hyderabad
Gachibowli, a major IT suburb of West Hyderabad has recorded a dip in property prices. Flats in this area range somewhere between Rs 3,000 – Rs 4,000 per sq ft. The property prices in last quarter of 2012 was between Rs 2,945 -Rs 5,487 per sq ft. Developers expect more stability in this micro market in coming quarters.
The nearby areas around Gachibowli like APPA Junction, Narsingi and Kismatpur are also emerging as alternate residential destinations. Following table shows property rates of prime residential markets of West Hyderabad(mid segment market).
|
Locality |
Per Sq. Ft. Price in Oct – Dec 12 |
Per Sq. Ft. Price in Jan-Mar 13 |
Increase or Decrease % |
|
Gachibowli |
2,945 – 5,487 |
3,000 – 4,000 |
-17% |
|
Appa Junction |
2,420 – 2,809 |
2,800 – 3,300 |
16% |
|
Tellapur |
2,322 – 3,592 |
2,300 – 2,800 |
-14% |
North-West Hyderabad
Some of the major locations in this zone include Kukatpally, Madhapur, Kondapur ,Miyapur and Chanda Nagar.
The organised retail development, commercial facilities and landmark residential projects in Kukatpally has attracted real activities in the area. The area has reported marginal change in property prices.
Presence of SEZs and Grade A commercial spaces are making Hitech city and Madhapur as most preferred realty destinations in the city. These areas are witnessing the development of products in the higher mid-segment while Kondapur-Gachibowli road is witnessing development of premium products.
Many prominent builders are launching mid segment projects in Miyapur and Chandanpur. Following table shows property rates of prime residential markets of North- West Hyderabad (mid segment market)
|
Locality |
Per Sq. Ft. Price in Oct – Dec 12 |
Per Sq. Ft. Price in Jan-Mar 13 |
Increase or Decrease % |
|
Kukatpally |
3,010-3,374 |
3,340-3,710 |
11% |
|
Madhapur |
3,902-4,823 |
3,960-4,300 |
-5% |
|
Hitech City |
3,922-4,205 |
3,930-4,200 |
0% |
|
Kondapur |
3,232-3,362 |
3,400-3,530 |
5% |
|
Miyapur |
2,724-3,272 |
2,998-3,130 |
2% |
|
Chandanagar |
4,248-4,641 |
4,450-5,148 |
8% |
North/North-East Hyderabad
This region of the city is witnessing moderate sales volume with stable prices. Sanathnagar targets higher mid segment market, A.S.Rao Nagar near Sainikpuri has reported development of affordable housing and villa while Kompally majorly offers villas ranging between Rs 50 lakh to Rs 1.25 crore.
Following table shows property rates of prime residential markets of North/North-East Hyderabad (mid segment market)
|
Locality |
Per Sq. Ft. Price in Oct – Dec 12 |
Per Sq. Ft. Price in Jan-Mar 13 |
Increase or Decrease % |
|
Kompally |
2,281-2,382 |
2,000-2,750 |
2% |
|
Sainikpuri |
2,651-2,199 |
1,900-2,200 |
-15% |
East Hyderabad
The micromarket of Pocharam has reported the development of affordable housing and budgeted villas while independent houses are built in Uppal on plots of approximately 100 sq.yards to 250 sq.yards. Interest of Buyers have substantially increased in Pocharam by 7-10 percent.
Following table shows property rates of prime residential markets of East Hyderabad (mid segment market)
|
Locality |
Per Sq. Ft. Price in Oct – Dec 12 |
Per Sq. Ft. Price in Jan-Mar 13 |
Increase or Decrease % |
|
Himayath Nagar |
4,240-4,500 |
5000-6000 |
26% |
|
Uppal |
2,080-4,027 |
2,000-2,300 |
-29% |
Central Business District
Jubilee Hills and Banjara Hills are the most posh localities of the city which possess permanent and limited demand of independent bungalows. Begumpet also witnesses high premium projects ranging between Rs 5000-Rs 7000 per sq ft.
Following table shows property rates of prime residential markets of Central Business District (mid segment market)
|
Locality |
Per Sq. Ft. Price in Oct – Dec 12 |
Per Sq. Ft. Price in Jan-Mar 13 |
Increase or Decrease % |
|
Jubilee Hills |
5,055-5,680 |
6,000-8,000 |
30% |
|
Banjara Hills |
5,400-5,894 |
6,000-9,000 |
33% |
South Hyderabad
Since Shamshabad is a subdued market, it is attracting many investors to purchase land parcels as long term investment. Surrounding regions of International airport at Shamshabad is witnessing plotted development projects. Many developers have also launched villa project in this area. The property price in Shamshabad has declined drastically between Rs 1900- Rs 2300.
It is thought that the real estate in the city will see nominal appreciation in coming five years. Around 40,000 residential units are planned in the city for 2013. Thus, this supply is expected to keep check on residential prices. Hyderabad will continue to remain the most affordable market among metro cities having good infrastructure and IT/ITES sector.
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