With a booming economy Hyderabad has grown to be a favored residential real estate investment hub. SEZs, industrial parks, international airport and apt traffic inflow have resulted in heightening the national and foreign investment in the residential real estate market of the city.
Coming up of new Rajiv Gandhi International Airport has opened new growth corridors in Hyderabad. The Airport is expected to link the city with the neighboring cities such as Bangalore which will further open new business channels. The strategic location of Hyderabad and availability of space and manpower are the other reasons resulting in real estate activities in the city. Because of the same reasons many IT and ITes companies have set up their campuses in the city and a lot of of them are in the pipeline.
The IT development is influencing residential and retail sector as well. The mall culture is becoming very popular in the city booming the retail industry. Consequently, Hyderabad real estate market is witnessing an appreciation in capital and rental values.
Residential real estate is also following the same footprints and the residential values are appreciating on an average by 10 per cent. The rents for the flats in Hyderabad usually varies with the location and presence of social infrastructure. But still the prices of Hyderabad properties are less as compared to other metropolitan cities. This is also a key factor attracting more number of investors and buyers.
With the Cabinet approving a bill to implement Rs 9,696 crore, Hyderabad Metro Rail Project is expected to be completed by 2011 and will cover a stretch of 63 km. The Government of Andhra Pradesh in collaboration with Hyderabad development authority is taking initiative in making Hyderabad a world class city. The development will surely set an upward trend in Hyderabad properties and help it in retaining the Nizams status.