The real estate boom in Hyderabad has definitely hit the city late compared to IT meccas like Bangalore or Chennai. Nevertheless, the quantum of growth has been substantial enough to make some of the biggest property developers in the country sit up and take notice. Realty majors like DLF and Unitech of Delhi and Hiranandani of Mumbai have either already announced projects or are planning property development in Hyderabad.

Like in most metros, IT/ITeS growth is both commercial and residential property segment in the city. Software players like Satyam, Microsoft, Infosys and Google have huge development centres in Hi Tech City and Gachibowli. With excellent roads, connectivity and proximity to the upcoming international airport at Shamshabad, HiTech City and Gachibowli are no longer city fringes. They are, in fact, commanding a premium. Property prices in the region have also shot up quite significantly and are quoting at around Rs 4,320 per sq.ft, as high as rates in the central business districts.

To cater to the IT population, a number of property developers have also announced new residential properties in these regions. The region opposite HiTech City, Kukatpally has been developed by the city administration with good roads ensuring connectivity. As a result, Kukatpally is today the hottest destination for residential property development in Hyderabad city.

Today with development reaching as far down south as Shamshabad, about 40 km from the CBD, the center of gravity is expected to shift towards that region. Apart from the prestigious $3 billion Fabcity project announced by SemIndia, Shamshabad will also have a number of SEZs, commercial and residential properties all amounting to a total investment of Rs 30,000 crore, if things go as planned.

A number of airport related projects like top hotels, convention centers, ring road, a seven-star hotel with golf course proposed by Emaar Group and the Fabcity project together will make Hyderabad the destination to conduct business, say industry experts.

The state government has also provided fillip to the real estate growth by periodically conducting auctions of litigation-free, government land through Hyderabad Urban Development Authority (HUDA) that ensures developers transparent, hassle free land transactions with clear deeds.

Residential property in Hyderabad has also been witnessing dizzy heights with many new villas and luxury condominiums being planned.Hyderabad, which is already known for its lavish bungalows, will also now house the most expensive villas. Property developer Omega Shelters is planning huge Spanish Villas in the outskirts of the city that come with a price tag starting from Rs 4 crore and going up to a whopping Rs 12 crore.

Retail sector is also driving the real estate demand in a big way. Reliance Retail, which made its grand beginning in the city, has already opened 21 outlets in the city. Besides established retail players like Future Group, there is a huge accent on mall development, specialty stores, entertainment plazas and resorts on the city outskirts. While the large retail players gobble up spaces in high streets and main roads, smaller players take to bylanes and streets adjoining main roads, resulting in real estate demand in those spaces too.
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