Hyderabad rental value varies
Hyderabad- The rental value in Hyderabad varies from area to area from last three months.
Taking example of areas where rental value has increased like Kukatpally and Kondapur. On the other hand areas like KPHB Colony, Srinagar Colony and Hitech City have witnessed a negative growth.
From July to September 2012, there was 11 percent, nine percent and six percent growth of rental value in Kukatpally, Konadpur and Mehedipatnam respectively. This is because these areas have good properties with attractive prices which have induced several IT companies to relocate there.
The surprising part is that in the same lapse of time Kukatpally Housing Board (KPHB) colony recorded a negative growth of 10 percent as compared to April-June 2012. Srinagar Colony and Hi-tech city showed a drop of 8 percent and 4 percent respectively.
Talking about KPHB which was once a major residential area is now getting converted to commercial area. Thus with this excess supply in market along with new residential projects in KPHB have resulted in drop in rental value. It is expected that very soon the situation will get better with a little increase in price.
Areas like Miyapuri, Sainikpuri and Somajiguda have reported no change in rental price due to advantage of their location.
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