Realty Wrap 2016: Entry Of Corporate Giants Helps Revive Hyderabad Realty

The various infrastructural developments in Hyderabad have constantly kept it on the real estate map. In order to solve the problem of overcrowding in the city, the Telangana government has started developing satellite cities. 

The infrastructure development

Three major road projects would be passing through Hyderabad. These highway projects are Outer Ring Road (ORR), North-South-East-West corridor and the Regional Ring Road (RRR) project. The ORR covers the 158 km stretch and improves access from Hyderabad to Srisailam. The 290 km long RRR will connect NH-9, 44 and 163. NH-9 connects Maharashtra, Telangana, Karnataka and Machilipatnam. NH-44 connects Srinagar to Kanyakumari via Telangana and NH-163 Chhattisgarh to Telangana. And finally, the 585 km long Hyderabad Nagpur corridor, proposed by the government that would connect Hyderabad and other districts would increase the economic development of the residents of that area.

Also, the under-construction Metro Rail Project, which would cover 72 km, is also a major infrastructure development in the city.

Launches in the year

While the whole country was dealing with a slump, the decision of multinational companies like Apple Inc., Salesforce.com, Amazon and Google Inc. to set up campuses in Hyderabad has led to the increase in new launches and sales of properties in and around Hyderabad. They have provided a much-needed push to the real estate sector in Hyderabad.

Price trends

Hyderabad is the only city after Kolkata, which has seen a rise in sales numbers. Manikonda, Kukatapally, Nallagandla Gachibowli, Gachibowli, Narsingi have contributed up to 15 per cent of the sales by October. The major sales have been recorded in Narsingi and Manikonda locality with a price range of Rs 3, 900 to Rs 4,200 per sq ft. Also, there might be a further increase in the sales in Hyderabad given the speculations that there might be changes in the loan rates, which would attract first time buyers.

Top localities

The top performing localities, as per the Datalabs report for the year are, Manikonda, Kukatapally, Nallagandla Gachibowli, Gachibowli, Narsingi when it comes to mid-segment housing. There has been a visible rise in the sales of the apartments by 44 per cent in these localities as compared to the other localities where there has been an annual increase of eight per cent in the sales of new properties.

New launches and top developers

The new launches this year in Hyderabad are Kamal Narayan by Giridhari, The Meadow Dance by Total Environment, Wind City by Pride India, and T Town by PVR Developers. The top developers that have come up in the last financial year are L&T Infra, Meenakshi Group, Technopolis and DLF.

The inventory

The inventory has seen a reduction in Hyderabad realty with six per cent decrease in the affordable housing section, two per cent and five per cent decrease in the mid-end and the luxury segment respectively.