Hyderabad’s affordable office market ranks second in world: DTZ
Hyderabad- According to a global real estate adviser, DTZ, China and India has been figured out as dominated countries among the world’s top 10 most affordable office spaces. Pune and Chennai occupied fifth and sixth place respectively. The least affordable office market worldwide is London’s West End. Thus it becomes the most expensive office location (USD 23500) for the year 2012. Last year in 2011 it was Hong Kong.
The total occupancy cost is the average total cost of leasing prime net usable space which includes rent and all other expenditures like property tax, maintenance cost. It is made sure these cost are actually suppose to be paid by the occupier.
This cost does not include all leasing incentive like fitting-out costs, rent-free periods, facilities costs specific to the tenant like cleaning or IT and costs like amortisation of capital and related expenditure are also excluded.
On one hand Hyderabad is second most affordable office market and on other hand its residential market is most affordable among metros in India. After a half year spent in Telangana issue, Hyderabad real estate market has shown some stability with healthy demand of IT space and affordable housing.
In last six months of 2012, the market gained momentum, prices increased and many new residential projects were launched. There were also some specific developments in the city that had impacted property prices like newly launched phases of Outer Ring Road,Hitech city,Multi-modal Transport System (MMTS) etc.
Thus on whole Hyderabad city comes out be a good blend of both residential market and office market.
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