- Offers best options for real estate investors in terms of money
Hyderabad, the capital city of Andhra Pradesh has significantly metamorphosed itself from just being known as the ‘City of Charminar’ to the most happening IT city of India. Backed by a supportive and enthusiastic government, Hyderabad has grown to be a favorite hub for investors which not only provide quality infrastructure for property investments but has added attractions like special economic zones, industrial parks, IT campuses, and a new international airport to its credit.
Hyderabad which in recent times represents one to of the prominent technological and biotech hubs of India is a city on the move. It houses some of the major Indian and multinational IT giants such as Motorola, Google, Dell, Deloitte, Microsoft R&D India Pvt. Ltd., Wipro Technologies Ltd, Tata Consultancy services and Infosys Technologies Limited. Apart from that, Hyderabad is a budding sector for the BPO industry and with the availability of educated and skilled professionals, more global investors are heading towards the city and several companies are expanding from smaller operation to big operations. The Biotechnology sector is the new evolving sector in Hyderabad. And as more companies are willing to set up its operations in the coming years, it surely is going to boost up the economy of the city.
All this economic development in its industrial sector has resulted in a booming real estate market in both the residential and commercial space. An indication of this is the increase in prices of residential real estate in Hyderabad by 40-60% a year. And this upsurge shares its credit to the large chunk of young workforce working in the top notch companies who are spending their assets in the real estate sector. If the recent auction of a plot of land in Jubilee Hills for Rs 80,000 per square yard is an indication, then real estate is happening in Hyderabad. Jubilee Hills and Banjara Hills, one of the prime locations and home to celebrated personalities are the hottest areas where houses in are priced in the range of Rs 50 lakh – Rs 2.5 crore. Expats from the MNC biggies seem to have hitched onto the realty bandwagon as well forming 7-8% of all residential investors shooting up Hyderabad realty prices to an all time high.
Hyderabad, over the years, has continuously managed to draw industrial bigwigs like Infosys and Microsoft to set up campuses in the city. And the state government’s ability to provide global companies large tracts of land at concessional rates and allotment of SEZs is a major reason for these companies coming the city’s way. With foreign funds expected to enter the fray in the residential real estate market after the removal of ceiling on FDI in real estate, the number of townships is expected to rise and consequently the prices. So assessing the current trend, Hyderabad offers best options for real estate investors in terms of money.
Author's Bio:
Michaelle Sui is an associated editor to the website http://www.indianground.com. Indianground is dedicated to explain all your related queries for real estate India and India properties, with the latest news updates. Your feedback and comments will be highly appreciated at “michaellesui@gmail.com".
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