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