The sun has finally shone for the commercial property in Hyderabad along withhouse owners interested in investing in Hyderabad. For long, the political stability in Hyderabad was not quite impressive. With the surge of new property developers on the lands of Hyderabad, the hopes are high that the latest projects gearing up in the city will outshine the existing projects.
The upcoming properties in Hyderabad are solely focused on affordable and mid segments. As the central business districts are relatively preferred besides the suburbs, the sales in suburbs have declined due to the prospective mismatch of demand of supply. Moreover, where there is a rising demand in micro markets in properties of around 30 to 50 lakhs, there is only a marginal rise in the selected segments with a rise of about 5 to 10%. The prices of new launches are considerably stable and are mostly in the eastern side of the city.
Real estate in Monikonda
Being the most active part of the city, western zone of Hyderabad witnesses severe fluctuations in prices every year. Manikonda is the part of Hyderabad where you can expect to receive high rental returns by investing in properties there. According to indexes, it is among the top ten most preferred locality report of 2015 last quarter. It has also witnessed a sharp rise of 6% in the last three months. The sharp rise in properties means higher rent. On an average, property in Manikonda fetches around 8500 – 11000 monthly rent.
Manikonda happens to attract more North Indians to pay rent on these properties due to being a hub of multinationals and IT hubs. In search of proximate accommodation to their workplace, most students are attracted towards these properties for rented accommodation.
Emergence of multinationals
Moreover, being affordable, this is usually the first choice. It is reported that due to the growth of more and more MNC’s in the city, the demand for commercial property in Hyderabad is likely to see an upsurge. The fierce competition in the industrial sector has resulted in an increase in occupancy rates. Hyderabad is becoming the prime location for IT/ITES and BPO’s. The bigger companies have started opening their company branches and franchises in the city. As a result, the prices of residential properties in Hyderabad are on the rise.
The suburbs spaces in Hyderabad are turning into villas and luxury apartments. Some of the major spots are named as Bachupalli, Shamshabad, Nagole, Jubilu hills, Nizampet and others.
With the above events that follow, the rise in salaries of employees and their power to purchase more. As a result, this wants for more malls and markets for a better living lifestyle. Plethora of malls are thus under work. Therate of land for construction of malls goes from 5000 to 12000 per sq ft., whereas for local shops in markets, it is Rs. 4000 to 5000 per sq ft.
To sum up, intended infrastructure, finest connectivity with other cities, pleasurable climate, and urbanization are some of the reasons why Real Estate in Hyderabad has flourished during the past years. This is also the reason it has attracted many real estate investors.