The real estate in Hyderabad is set to go in to revival mode in the year 2015. The fortunes of the real estate market here have been in a very bad shape for the past few years. Multiple factors have led to down fall of the realty industry of Hyderabad. But there is hope that 2015 will be the year that marks a turning point for the city of Hyderabad.
Over the last few years the political unrest that surrounded the bifurcation of the state of Andhra Pradesh did a number on the real estate of the city. Hyderabad at one point in time was the pride of Andhra Pradesh and shone brightest among the cities of the south. Hyderabad of the 1990s and early 2000s was a city which had potential to grow and challenge the supremacy held by many cities in the north of the country. The Information Technology boom that hit the country transformed the face of Hyderabad and truly made it a cosmopolitan city. Many IT giants flocked to the city to set up shop and this in turn ensured that the realty sector here boomed as well.
Things did not go as planned with this city once the bifurcation issue became the most burning question that engulfed the state of Andhra since its creation. The issue was laid to rest in 2014, but the years preceding this decision had really gone a long way in damaging the image of the city. But all hope is not lost as 2015 looks to be the year that will belong to this city.
Even through the rough patch that the city was experiencing some micro markets in the city managed to hold their own. These were mostly located in the north and north western part of the city. This was mostly because these markets either had a strong presence of IT and finance companies or were areas which were close to these employment generators.
Gachibowli is one such micro market. This micro market was once a village. The IT boom reshaped the fortunes of this locality in a big way. Now a property for sale in Gachibowli ranks high among property seekers in the city. The going rate for apartments in Gachibowli stands at INR 4600 per square feet on average. The going rate for villas here stands at INR 7300 per square feet on average.
Hi Tech City which is one of Gachibowli’s immediate neighbours was also popular among home buyers for the exact same reasons as Gachibowli. But the real estate market in Hi Tech City has reached saturation. Hence a property for sale in hyderabad is much more in demand these days.
There are many big players from the IT industry who are present here. Those who are employed in the companies before to stay in apartments in Gachibowli. They have become the main consumers for the real estate sector here. Connectivity wise the area scores well. Under the Hyderabad Metro the area will also get metro connectivity.
Over the last few years the political unrest that surrounded the bifurcation of the state of Andhra Pradesh did a number on the real estate of the city. Hyderabad at one point in time was the pride of Andhra Pradesh and shone brightest among the cities of the south. Hyderabad of the 1990s and early 2000s was a city which had potential to grow and challenge the supremacy held by many cities in the north of the country. The Information Technology boom that hit the country transformed the face of Hyderabad and truly made it a cosmopolitan city. Many IT giants flocked to the city to set up shop and this in turn ensured that the realty sector here boomed as well.
Things did not go as planned with this city once the bifurcation issue became the most burning question that engulfed the state of Andhra since its creation. The issue was laid to rest in 2014, but the years preceding this decision had really gone a long way in damaging the image of the city. But all hope is not lost as 2015 looks to be the year that will belong to this city.
Even through the rough patch that the city was experiencing some micro markets in the city managed to hold their own. These were mostly located in the north and north western part of the city. This was mostly because these markets either had a strong presence of IT and finance companies or were areas which were close to these employment generators.
Gachibowli is one such micro market. This micro market was once a village. The IT boom reshaped the fortunes of this locality in a big way. Now a property for sale in Gachibowli ranks high among property seekers in the city. The going rate for apartments in Gachibowli stands at INR 4600 per square feet on average. The going rate for villas here stands at INR 7300 per square feet on average.
Hi Tech City which is one of Gachibowli’s immediate neighbours was also popular among home buyers for the exact same reasons as Gachibowli. But the real estate market in Hi Tech City has reached saturation. Hence a property for sale in hyderabad is much more in demand these days.
There are many big players from the IT industry who are present here. Those who are employed in the companies before to stay in apartments in Gachibowli. They have become the main consumers for the real estate sector here. Connectivity wise the area scores well. Under the Hyderabad Metro the area will also get metro connectivity.
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