Hyderabad the city of pearls, has been long famous for its
Charminar, Husain Sagar Lake and Hyderabadi Biryani. Its old city charm; the
hustle bustle; the noise of auto rickshaws; the road side vendors shouting
their throats out; the mouth-watering street food joints; evening lights
inspired by 100W bulbs, shining in all their glory; the typical Hyderabadi
lingo - a mix of Lucknow thebe with a dash of Urdu; these are typical
sentiments with which Hyderabad is normally associated. However, the city has
crossed quite a few development milestones in the last decade. Hyderabad can be
clearly divided into the old city and the new metropolis. The construction,
style of living and infrastructure accordingly define this segregation.
Real
estate developers in Hyderabad have also followed the pattern in the city; with the old city
sticking to the colonial style of construction, whereas the new city has
absorbed all the modern trends. Areas of Banjara hills, Jubilee Hills,
Gachibowli, Hitech City etc. define modern Hyderabad, with a mix of
residential, commercial and IT parks.
Real Estate in Hyderabad has a healthy mix of affordable, mid and luxury segment projects,
catering to the needs of a variety of end users. The property prices in Hyderabad vary from anywhere between INR 2000/-
to INR 8000/- per square feet, depending on the area and facilities being
offered as part of the project. Banjara & Jubilee hills, Necklace Road are
the most expensive in terms property rates. Gachibowli, Kavadiguda, Kondapur,
Madhapur cater to the mid segment property rates. Affordable housing is
available in Alakapur Township, Bandlagauda, Kundanpally, Nagaram and Uppal. As
these localities are spread across the city, property in Hyderabad offers flexible availability in almost all
neighbourhoods.
As compared to other metropolises the average property rates in Hyderabad are
reasonable and well justifiable, which attract the end user. Hyderabad real estate market attracts
lot of investment form NRIs or Indian diaspora. Telangana has a reasonable
population which has temporarily, as well as, permanently moved out to
middle-east countries due to better job prospects and are potential investors
for buying property
in Hyderabad. Due to this reason a number of property fairs are being
organised in the middle-east countries specifically for real estate in Hyderabad, aimed at targeting the Indian diaspora.
Hyderabad is one of the few cities which has stood its ground
during the present slow-down in the real
estate sector in India. Whereas, all major cities have gone through a
price correction, property prices in Hyderabad have not dropped; this is
demonstrative of the inherent resilience of property market in Hyderabad.
