Hyderabad: In its endeavor to enhance the overall property-buying experience for the new home buyers and to offer a one-stop solution for all their property-related queries,CommonFloor.com, the leading real estate platform unveiled their Annual Real Estate Reportfor Hyderabad giving an overall perspective about the real estate sector in the city.
With the political uncertainty clearing around Hyderabad post the bifurcation of the state, the city has emerged as one of the most promising real estate markets in the country in 2015. Attractive prices and buoyant office space activity has boosted the realty prospects of Hyderabad. Backed mainly by the IT/ITeS sectors, major real estate activity was seen in the western parts of the city.
CommonFloor has done an in-depth analysis of the city and captured some of the highlights witnessed in the real estate industry in Hyderabad. The report showcases the updates in terms of the infrastructure, regulations and policies, affordability, rental demand etc.
o Greater Hyderabad Municipal Corporation (GHMC) has prepared Strategic Road Development Program (SRDP) to ease traffic congestion at a cost of INR 2,700- 2,800 crore and has identified 10 roads for development on priority basis
o Telangana government is proposing to set up three more Aerospace and Defence parks on the outskirts of the city over the next four years with an investment of INR 2,500 crore and will shortly unveil a sector-specific policy
o Centre cleared INR 416 crore for 12 cities in Telangana under AMRUT in order to improve basic infrastructure
Regulations& Policies introduced:
o State government unveiled an industrial policy to provide hassle-free and time-bound approvals for business proposals in a bid to attract more investors and make it easier for companies to operate in Telangana
o Telangana government plans to frame legislation to facilitate the growth of the real estate and construction sectors. It includes the ease of doing business, faster clearances and bringing about transparency in the processes
o The Telangana government has revised the lease and rental policy of the lands allotted to government departments as well as private individuals and organizations for various purposes
Major deals signed in 2015:
o Google to set up its first campus in Asia at Hyderabad, its biggest outside the US, at an investment of INR 1,000 crore
o Indian mobile phones maker Celkon Mobiles to invest INR 250 crore in its manufacturing facilities in Telangana and Andhra Pradesh over next six months
o Uber has taken up 150,000 sq. ft. space on lease in Hyderabad as part of a massive expansion drive in India. The leased space will be used as a back office and technology centre
As per CommonFloor Real Insights, Hyderabad witnessed about 50 per cent new apartment launches in 2015 as against 38 per cent in 2014.
While Kondapur, Gachibowli, Kukatpally, HITECH City and Nizampet are well-established markets, APPA Junction, Manikonda, Bachupally and Nanakramguda are emerging markets.The average launch price of properties in the top 10 markets is anywhere between INR 2,200 to 4,800 per sq. ft. Considering the infrastructure facilities and the development prospects available in these markets, the launch prices are relatively lower than other metros across the country.
Out of the total supply of units in all categories, villas and row houses saw nearly 14 per cent new launches in 2015. Considering other metros, Hyderabad saw maximum launches in this category.Considering the future prospects and the prevailing affordable prices, plots and layouts witnessed a whopping 37 per cent new supply in 2015. The average price per sq. ft. was below INR 1,000 for the top 10 localities.
Interestingly, the operational Outer Ring Road has opened new realty markets in Hyderabad, which in turn has led to high demand for plots and layouts in and around this major road. In terms of market affordability (i.e. maximum per cent of projects launched in the affordable segment), Nizampet emerged as the showstopper in the city.
As per CommonFloor Real Insights, Hyderabad saw almost equal mix of project launches in all categories including affordable (INR 70 lakh) segments. Interestingly, the average area of properties was seen to be relatively higher in comparison to other metros. It ranged between 850 sq. ft. to 1,600 sq.ft.
The report further identifies the top markets from both buyers’ and sellers’ perspective based on parameters like price change, average number of days in market, availability of properties in all segments, among others. The top sellers’ markets are established ones with limited land availability and high property values.
In contrast to sellers’ markets, the top buyers’ markets have multiple property options in same as well as in different segments. Jubilee Hills and Banjara Hills are upscale markets while Secunderabad and Malakpet are saturated residential markets with very limited scope for further development.
Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.
From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.
To know more about CommonFloor.com, please visit: http://www.commonfloor.com
Disclaimer: The information provided in this Website is based on CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps including CommonFloor’s proprietary data resources, and from the inputs of unidentified individuals. It ought to be considered as a guideline and not as absolutely certain. While care has been taken for groundwork, no responsibility is accepted for the accuracy of whole or any part. This information is absolute property of CommonFloor /maxHeap Technologies Private Limited. It should not be reproduced in any form, in part or whole, without prior written permission of CommonFloor. The information is provided on an “as is” and “as available” basis. CommonFloor expressly disclaim warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.