| From a City of Pearls and Minars, Hyderabad has | | | | hired 17,000 sq. ft. at Madhapur. |
| transformed into an international software destination. | | | | Huge commercial real estate projects like the |
| Stretching its legs across north, northwest, west and | | | | Divyasagar Omega and Divyasagar Solitaire are also |
| south, the real estate market is growing like never | | | | on their way of completion by early 2008. |
| before. | | | | SEZ wave |
| The peripheral locations have now become the hubs | | | | One of the reasons for the high growth is also the |
| of major investment by both small and big real estate | | | | Special Economic Zones (SEZs) movement in |
| developers. Land prices at the outskirts that were in | | | | Hyderabad. With 40 IT SEZs, the total investment is |
| the range of Rs 15,000 to Rs 18,000 per square yard in | | | | expected to reach US$7 billion mark with a potential |
| 2006 have now shot up Rs 50,000 per square yard. | | | | growth of 50 per cent during the current fiscal year. |
| Growth engines | | | | Out of the estimated 60-70 million sq. ft of IT/ITeS |
| This paradigm shift can be attributed to drivers like the | | | | specific commercial office space expected to come |
| new international airport at Shamshabad, the 8-lane | | | | up through SEZs alone by 2010 in India, Hyderabad |
| Outer Ring Road on Hyderabad's periphery and better | | | | leads with about 30 per cent (25 million sq ft) of the |
| connectivity by efficient MMTS rail that have improved | | | | total expected supply. |
| connectivity to all parts of the city and the country. | | | | This has also led to an increase in the prices of |
| According to the US based international market | | | | properties for commercial purposes. In Begumpet, |
| research report, it is IT that is really driving the property | | | | Panjagutta, Ameerpet and Banjara Hills, the new CBDs |
| market in the fourth fastest growing city in the world. | | | | of Hyderabad, capital prices range from Rs 3,500 per |
| Areas around the HITECH city or the IT Park at | | | | sq. ft to Rs 4,500 per sq. ft. The old CBD areas in |
| Shamshabad have witnessed tremendous growth in | | | | Abids, Koti, Himayathnagar and Nampally have slightly |
| both residential and commercial property. Global | | | | lower rates, as new establishments prefer the new |
| players like Microsoft, Oracle, Satyam Computers and | | | | locations. |
| many others are eyeing this area for growth and | | | | For more details on Hyderabad Properties, log on to |
| investment. One such would be CISCO, which has | | | | magicbricks. |