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Tuesday, 9 October 2012

Hike of 40 per cent in Hyderabad Commercial Property Market

Hyderabad commercial real estate industry again on focus of developers. It has been found that there is around 40% hike in HITECH City and Gachibowli areas of Hyderabad. Developers are interested in developing commercial property in this city.

Hyderabad commercial real estate


Most of developers are attracted towards commercial spaces because of continuous rise in property rates  in  Begampet and Komapally areas.Accroding to Omar Farooq, senior sales manager, Modi Builders, Hyderabad –“The Hyderabad real estate market in Gachibowli and HITECH City are still affordable as compare to other cities so that they are able to attract IT companies. ”.The other reason is that most IT companies need more office spaces as they are expanding fastly.

Hyderabad to be priced about 30 per cent lower as compare to other IT cities in India. The Hyderabad city today has several IT majors for suitable areas to set up business. These include IT services, BPOs and several large MNCs.The environment of Hyderabad is also favorable for setting up large facilities.

The commercial real estate has positive impact on the residential sector as well. Numerous residential complexes are being planned close to these areas. The prices of residential flats in the surrounding areas are extremely competitive. Hyderabad real estate market has higher growth in the apartment segment the safety and security issues taken by developers. The residential areas of Hyderabad are close to commercial spaces. It makes travel easy. This also contributes to the growth of office space.

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