The City of Nizams, Hyderabad, has
welcomed the many policy decisions taken by the Centre that had an impact on
the real estate markets. The capital of new state Telangana, is riding high on
real estate as Builders
and developers in Hyderabad have taken the latest
developments in their stride. Though many don't feel affected by the recent
demonetisation drive, the real estate market here has no doubt slowed, but it
has definitely not been written off. The slowdown has made investors and end
buyers a bit wary about whether or not to invest in real estate.
Looking at long-term goals, according to a report released by
the Directorate of Economics and Statistics of the State government, the state
of Telangana is among the six major industrial states in India with Hyderabad
being the fastest emerging IT hub of the country. Also known as Cyberabad, it
has recently seen an increase in the rentals for the commercial spaces as well
increase in the purchase of the residential
property in Hyderabad as well. Moreover, the rentals of the residential
properties have also seen a considerable increase. The city has a large
concentration of IT-based industries, due to which there is a huge demand of
residential apartments close to the localities having best of infrastructure
and the facilities.
Going by the demand, the best sectors to invest in Hyderabad is
buying and renting properties. Of this, the two major localities to invest in Hyderabad are Gachibowli and Manikonda. The
major jump in the rental sector has been the result of the setup of the office
out of home campus of corporate giants like, Google, Apple, Infosys, etc.
Gachibowli in Hyderabad is one of the fast-growing localities.
The locality has become a hot spot for the real estate development. The
proximity of Gachibowli to the new international airport; rapidly increasing IT
base; and the growing infrastructure has made it one of the most-sought after
localities for residential real
estate in hyderabad among the IT professionals who want to live close
to their workplaces. The price of
the properties in Gachibowli,
which mostly houses 3BHK apartments and is followed by 2BHK apartments, ranges
between Rs 40 lakh-Rs 60 lakh. The consumers, however, prefer 2BHK apartments,
even if they are costly. If we go by the demand, the end-users are more
interested in buying or renting 3BHK apartments, closely followed by 2BHK
houses.
Manikonda, also on par with Gachibowli, is not far behind with
regard to the growing real estate demand. Manikonda is for the buyers who are
looking for a property and are on a budget. Manikonda like Gachibowli has seen
a boom in the IT sector. It has come up as one of the leading localities
with high-rise residential projects, software company headquarters. It is a
posh locality with the presence of many noteworthy commercial developments. It
consists of major commercial players like Reliance, Brand Factory, etc.
Manikonda is also connected via Metro rail and state bus service.
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