Hyderabad Economy and Real Estate

[HydIndian]

Thought we could add a new section for tracking the realty prices.

[HydIndian]

Quotes as on 06 Sep 2009

3BHK 1906 SFT corner apt: 2520/- per SFT
3BHK 1906 SFT corner apt: 2415/- per SFT

Other cost around 7.5 lacs

3BHK 2300 SFT is around 2900 per SFT.


Floor rise price of 25/- per floor per SFT. from 6th floor onwards.

[HydIndian]

2400/- per SFT. there is room for negotiation.

Floor rise 35/- per floor per SFT.

Other cost around 5 Lacs or so.

[HydIndian]

2400/- to 2800/- per SFT. Don't have exact quote.

One of my friend's friend has book at 2400/- per SFT.

Other cost around 1.75 lacs

[HydIndian]

2799/- per SFT. I guess every one knows this from their Ads.

If anyone quotes less than this please submit a post.

[HydIndian]

Appro 1650/- per SFT. + 1.75 lacs other charges.

[Babji]

any ideas about cost of construction per SFT (with material - basic to standard range) (not luxury) ... may vary from area to area though ...
also, it would help to know ETA along with quotes of apartments -
Thanks for the valuable info ... very useful thread !

btw, I just received this info thru a promotional email from a leading bank ...

Project Name: Sri Nivas Heights
Location: Adarsh nagar, Uppal
Budget: Rs. 22 Lac to 30 Lac
Features:
- Landscaped Areas
- Vaasthu compliant
- Swimming Pool

Project Name: Mantri Celestia
Location: Gachibowli
Budget: Rs. 32 Lac to 47 Lac
Features:
- Club House
- Gym
- Party Hall

Project Name: Habitat Royale
Location: Yapral
Budget: Rs. 25 Lac - Rs 30 Lac
Features:
- Gym
- Convinience Stores
- Jogging Track

Project Name: La-Gardenia
Location: Madinaguda
Budget: Rs. 32 Lac - Rs 43 Lac
Features:
- Gym
- Outdoor games
- Centralised gas pipeline

Project Name: Cyber Commune
Location: Nallagandla
Budget: Rs. 30 Lac - Rs. 40 Lac
Features: - Swimming Pool, Health Club & Spa
- Creche
- 2 Car parking

[HydIndian]

Aparna Towers Kondapur resale.

3300/- per SFT + Extras

[raghussc]

Got this in an email ... Seems it was actually from Times of India.

Source: exclventures

[Babji]

AP realtors oppose Real Estate Bill
By By Our Correspondent Nov 09 2009

Hyderabad, Nov. 8: The Centre’s proposed move to bring a law to regulate and streamline the real estate business is causing jitters among developers, but will leave buyers smiling.

The government has sought views from the developers and buyers over the Model Real Estate (Regulation and Development) Bill to include modifications before the Bill is introduced in Parliament.

The Bill proposes setting up of a regulatory body and an appellate authority in every state. Builders cannot take up any construction activity without permission from the regulatory authority. This body will have chairman and members with administrative powers.

Promoters have to produce documents for inspection. Advance or deposits cannot be collected from buyers without entering into a sale agreement. The authority will also scrutinise advertisements so that builders cannot mislead buyers/people with false propaganda. Buyers have the option to take the deposits back with interest when they want to cancel the agreement. The state government will also come out with another law in accordance with the proposed Bill to avoid clashes with the existing laws. “At present buyers have to file cases only in consumer fora. Now, builders cannot dare cheat buyers,” said Mr P.Uma Maheswar, convenor of Federation of Greater Hyderabad Apartment Owners’ Association.

However, AP realtors are vehemently opposing the Bill alleging that it would lead to red tapism and additional tax burden on the buyers. “As many as 18 departments are currently handling the real estate activity in the state. With the establishment of new authority, builders will be in deep trouble,” said Mr C. Sekhar Reddy, the president of AP Builders’ Forum.

The Greater Hyderabad Builders’ Federation organising secretary, Mr M. Prem Kumar, said such stringent norms will prevent small builders from taking up construction activity.

“Builders run around for months to get clearances from government agencies. Such laws will not benefit either buyers or builders since practical difficulties have not been considered,” he added.

Source URL:
http://www.deccanchronicle.com/hyder...state-bill-418

[carzzz12]

Thanks for sharing this info buddy,

I feel that there is some kind of joint collaboration between TOI and these ventures... because all of them participated in the TOI property fair in Taj. All those who participated are being added up in this list... I am quiet sure that TOI would have promised that there will be good response in the fair. I feel there were hardly any bookings that took place in the fair... most of the ppl who went there went for just to have an idea... there were not many genuine buyers.... so I feel TOI is compensating by giving them discounts in advertisements and listing them in the project watch in TOI Property.

so its all game of money... one who pays gets listed.. no payment = no listing...

Take care..
Carzzz

Originally Posted by raghussc

Got this in an email ... Seems it was actually from Times of India.

Source: exclventures

[karthikp]

Typical Average Indian mind. If something good is done by anyone, we dont appreciate. We look reasons why he has done that good.

Boss, no matter whatsoever reasons why they published in TOI, it is a simple consolidation and presentation of some of the ventures in the city in a glimpse and it is extremely useful for a newbie. He cant definitely print all ventures in the city for sure. If you want, take the info, else leave it na,

Originally Posted by carzzz12

Thanks for sharing this info buddy,

I feel that there is some kind of joint collaboration between TOI and these ventures... because all of them participated in the TOI property fair in Taj. All those who participated are being added up in this list... I am quiet sure that TOI would have promised that there will be good response in the fair. I feel there were hardly any bookings that took place in the fair... most of the ppl who went there went for just to have an idea... there were not many genuine buyers.... so I feel TOI is compensating by giving them discounts in advertisements and listing them in the project watch in TOI Property.

so its all game of money... one who pays gets listed.. no payment = no listing...

Take care..
Carzzz

[carzzz12]

Dear kartik

Thank you so much for your narrow minded approach.

First of all... you are no one to comment on what I feel, this is an open forum and I gave my inputs.. If you didnt like it, dont criticize, and who are you say in what category of Indian Mind I am ???... first look at you before commenting on someone else. I dont even feel that you are an Indian or you would have never said "Typical Average Indian".. Remind you.. you are writing this is a GLOBAL forum. People from other countries are also reading it. Just for your Information, a typical average person in India is a highly intelligent, able, perceptive, profound person. I dont feel that you come in any of that category by writing such a comment.

I just shared the inside information that I came to know from sources. These are internal information that can be very useful for someone who is looking for an property. Example - he/she would know that there are other projects as well, apart from what is mentioned in this list.

Anyways, If you are writing back, dont expect me to give a response to you. This is a knowledge sharing forum (information which is +ve as well as -ve) and I dont want to have a chain replies for something that doesnt make any sense.

Regards
Carzzz

Originally Posted by karthikp

Typical Average Indian mind. If something good is done by anyone, we dont appreciate. We look reasons why he has done that good.

Boss, no matter whatsoever reasons why they published in TOI, it is a simple consolidation and presentation of some of the ventures in the city in a glimpse and it is extremely useful for a newbie. He cant definitely print all ventures in the city for sure. If you want, take the info, else leave it na,

[karthikp]

Dear Carrz,

I stand by what I say. If that is the way you wanna be, your life boss. Live the way you wanna live.

Originally Posted by carzzz12

Dear kartik

Thank you so much for your narrow minded approach.

First of all... you are no one to comment on what I feel, this is an open forum and I gave my inputs.. If you didnt like it, dont criticize, and who are you say in what category of Indian Mind I am ???... first look at you before commenting on someone else. I dont even feel that you are an Indian or you would not have said "Typical Average Indian".. Remind you.. you are writing this is a GLOBAL forum. People from other countries are also reading it. Just for your Information, a typical average person in India is a highly intelligent, able, perceptive, profound person. I dont feel that you come in any of that category by writing such a comment.

I just shared the inside information that I came to know from sources. These are internal information that can be very useful for someone who is looking for an property. Example - he/she would know that there are other projects as well, apart from what is mentioned in this list.

Anyways, If you are writing back, dont expect me to give a response to you. This is a knowledge sharing forum (information which is +ve as well as -ve) and I dont want to have a chain replies for something that doesnt make any sense.

Regards
Carzzz

[Babji]

Date:14/11/2009 URL: http://www.thehindu.com/2009/11/14/s...1460970500.htm

Janapriya project offers Rs.1,395 per sft

Affordably chic: Lake Front project promises reasonably priced units done with fine craftsmanship and intelligently designed spaces.

In a move which could give a new impetus to interest in property acquisition, Janapriya has come out with a tantalising offer for its Lake Front project at Sainikpuri. Spread over 12 acres, the project has units being offered at Rs.1,395 per sft for a maximum of 60 per cent of the flat area and rest at Rs.1,895 per sft.

The limited period offer is for the project coming up close to Dr.A.S.Rao Nagar and come as well-planned 2 and 3 BHK spacious apartments. The affordable aspect as the company points out is laced with units that are done with fine craftsmanship, latest technology and intelligently designed spaces. It is located in close proximity to developments such as Raheja IT Park, Infosys campus and several others and on promise here are facilities such as swimming pool, amphitheatre, elevators and community banquet hall among others. Janapriya says it ‘cuts costs without cutting corners’ and the same is achieved with large-scale projects. Home loans for down payment of the 60 per cent for eligible are also arranged and the buyers can pay the rest 40 per cent at Rs.1,895 per sft in instalments, it adds.

now is the time - for those who are ready... click on link to see pic - looks familiar!

[HydIndian]

Today, I visited Aparna Towers for the first time and got to see some of the 3 bedroom apartments which are available for rent. I couldn't check out their 5 bedroom Duplex apartments as I didn't have enough time.

Quick facts:
1. Gate community with features like club house, swimming pool and a 1 KM walking track.
2. Located at Kondapur, appro. 2.5 KM from Cyber Towers.

What's good:
1. Though it doesn't have a hell lot of open space, they have a pretty cool walking track which encircles all the towers along the driveway. It's close to 1 KM.
2. View from some of the apartments is good.
3. Parking and drive way is good, at least the ones which I saw.
4. Floor plans are decent.
5. Piped gas
6. It's ready to occupy!

What's not good:
1. When it comes to quality I am a big fan of Aparna. However, I was disappointed a lot to see badly done flooring, especially with big gap left between the spartek tiles. Tiles used in bathroom are not pleasing either. Apart from that wall finish etc is good keeping with tradition.
2. Entrance lobby is far from good, way to your tower is confusing and sometimes hard to find. Problem here is that part of the ground floor instead of being open for park has various utilities being built. Due to this moving from one tower to other is cumbersome.
3. Towers are way to close to each other and look crowded, some of the towers suffer from bad light and less wind flow.
4. Club house, swimming pool etc are average. Well, don't expect to see a pool like one in Jayberi's Silicon County.
5. No property management service available, I was shown these properties by a regular rent agent who has no idea of sales.


Rents are between: 19 K to 35K based on it being furnished and what respective owner has set.
Duplex is available for 40 K per month rent.

Most of project is currently lying vacant with very few people coming forward to buy or rent. It's been more than 6 months since some of the apartments were handed over, but most of them are still lying vacant.
Owners have reduced rents to some extent.

For sale, last quote I got was for Rs 3300/- per SFT. which I consider a lot expensive. I predict that prices will not go above 3300 for sure for at least another 2 years.
New projects getting launched and existing ones near completions will keep property prices stable.

There is another project from Menakshi, called Sky Lounge which they are selling fro 3800 per SFT. It has lot of open space than aparna towers. However, it's still under construction so you can't the quality etc. Besides, there has been a public notice on that land. I hope as it nears completion it's price too will fall just like Aparna Towers.

Another project is also available from Aditya group.

Bottom line is that there are a lot of options to choose from in coming years if you are looking for a house.

[carzzz12]

Hydindian

Thank you for this great review... keep them coming

Take Care
Carzz

Originally Posted by HydIndian

Today, I visited Aparna Towers for the first time and got to see some of the 3 bedroom apartments which are available for rent. I couldn't check out their 5 bedroom Duplex apartments as I didn't have enough time.

Quick facts:
1. Gate community with features like club house, swimming pool and a 1 KM walking track.
2. Located at Kondapur, appro. 2.5 KM from Cyber Towers.

What's good:
1. Though it doesn't have a hell lot of open space, they have a pretty cool walking track which encircles all the towers along the driveway. It's close to 1 KM.
2. View from some of the apartments is good.
3. Parking and drive way is good, at least the ones which I saw.
4. Floor plans are decent.
5. Piped gas
6. It's ready to occupy!

What's not good:
1. When it comes to quality I am a big fan of Aparna. However, I was disappointed a lot to see badly done flooring, especially with big gap left between the spartek tiles. Tiles used in bathroom are not pleasing either. Apart from that wall finish etc is good keeping with tradition.
2. Entrance lobby is far from good, way to your tower is confusing and sometimes hard to find. Problem here is that part of the ground floor instead of being open for park has various utilities being built. Due to this moving from one tower to other is cumbersome.
3. Towers are way to close to each other and look crowded, some of the towers suffer from bad light and less wind flow.
4. Club house, swimming pool etc are average. Well, don't expect to see a pool like one in Jayberi's Silicon County.
5. No property management service available, I was shown these properties by a regular rent agent who has no idea of sales.


Rents are between: 19 K to 35K based on it being furnished and what respective owner has set.
Duplex is available for 40 K per month rent.

Most of project is currently lying vacant with very few people coming forward to buy or rent. It's been more than 6 months since some of the apartments were handed over, but most of them are still lying vacant.
Owners have reduced rents to some extent.

For sale, last quote I got was for Rs 3300/- per SFT. which I consider a lot expensive. I predict that prices will not go above 3300 for sure for at least another 2 years.
New projects getting launched and existing ones near completions will keep property prices stable.

There is another project from Menakshi, called Sky Lounge which they are selling fro 3800 per SFT. It has lot of open space than aparna towers. However, it's still under construction so you can't the quality etc. Besides, there has been a public notice on that land. I hope as it nears completion it's price too will fall just like Aparna Towers.

Another project is also available from Aditya group.

Bottom line is that there are a lot of options to choose from in coming years if you are looking for a house.

[Babji]

Property rates dip with cement prices
By By Our Correspondent Nov 21 2009

Hyderabad, Nov. 20: Realtors have finally got the upper hand of cement manufacturers. The latter has drastically reduced the price of cement due to the fall in the price of raw material. As a result, property prices have also come down in Hyderabad and other parts of the state.

Due to oversupply and poor demand, cement prices fell by 30-40 per cent, bringing cheers to the realty sector. A 50-kilo cement bag is now available for Rs 140-Rs 150 as against Rs 220 six months ago. Another major component of construction, steel, which cost Rs 32,000 now costs around Rs 27,000.

“Cement manufacturers who used to fleece the public with abnormal pricing have finally reduced the rates for various reasons. This will boost construction activity and help home buyers to get properties at affordable rates,” said Mr S.N. Reddy, president of the Builders’ Association of India-AP chapter.

However, the Cement Manufacturers’ Association of India says the price reduction is a consequence of the lower cost of raw material such as limestone. “Pricing of cement always depends on the raw material cost. So, it is unfair to level allegations of ‘abnormal pricing’ against the cement companies,” said a representative of the CMA.

For home buyers the lower rates are a major relief. Real estate companies have slashed rates by at least 25 per cent. For instance, in Gachibowli, where many software companies are located, premium and luxury flats priced at Rs 75 lakh are now available for between Rs 45-55 lakh in posh localities.

Flats that cost around Rs 40 lakh in and around Hitec City and Madapur are now going for Rs 25-30 lakh. In other areas such as Kukatpalli, Uppal and LB Nagar, realtors are offering 20 to 30 per cent discount on property prices. Some are luring customers with gifts such as cars, diamond necklaces, air-conditioners and laptops.

“With the slash in the cost of cement and other construction material, we decided to pass on the benefit to the customers. That is why we are offering personal gifts to home buyers,” said Mr S. Rami Reddy, managing director of First SMR Holdings Limited.

According to Mr G. Yoganand, the managing director of the Majeera Group, the fall in cement prices will greatly benefit future projects but not completed projects. On the outskirts of Hayatnagar, Sridhar Constructions is offering individual houses for merely Rs 16 lakh. “We had predicted the fall in cement and steel prices one year ago with the slowdown in the economy. That is why we fixed competitive prices for our project being constructed in Hayatnagar,” said Mr M. Sridhar Rao, managing director of the company.

Realty experts say the demand for residential space is picking up in the twin cities.

Source URL:
http://www.deccanchronicle.com/hyder...ent-prices-159

[HydIndian]

Price Trend:



Source: ExclVentures

[viper9999]

Agree, not much has changed price wise except for a few apartment complexes' offering some good incentives/discounts in the name of lowering prices. I would say a marginal 5%-!0% correction can be seen. Independent houses/plots and properties in the city remain pretty much unchanged. Just as there are no buyers, there are no sellers for low prices either.
On a different note, people who paid crores of Rs for an acre of land 60-80 km from the city during boom time sure are the biggest losers.