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