Hyderabad Economy and Real Estate

[stormmaker]

HYDERABAD: There is an overwhelming response from builders and land owners for `Green Channel', where building applications are cleared within four working days.

As many as 526 building permissions were granted by the Greater Hyderabad Municipal Corporation (GHMC) in the last three months. Incidentally, the highest number of applications were processed in Kukatpally (circle 14), where 61 permissions were granted, followed by Circle 10 (Khairatabad) with 58 applications and Qutubullapur (Circle 15), where 57 permissions were given while only four buildings were permitted in Circle 8 (Abids area).

The GHMC had introduced `Green Channel' on October 18, 2010 to dispose of building applications, where there are clear documents, to prevent corruption in the town planning wing. As per this system, the official concerned would be penalised at the rate of Rs 50 per day, if there is any delay, in clearing files till the permission is granted. The amount would be recovered from the salary of the officer concerned. Most importantly, no additional fee would be levied for builders under this channel.

However, the `Green Channel' is being implemented for giving building permissions for ground+three floors (12 metres height), excluding parking floors or 1,000 square metres area plots in the corporation area.

As of now, building permissions under the Green Channel were being granted in layouts approved by either the Hyderabad Metropolitan Development Authority or GHMC. The applications would have to be submitted through registered architects to ensure that plans conform to master plan and zoning regulations.

"Initially, there were doubts about the Channel but now the response is increasing every day," GHMC commissioner Sameer Sharma said.

http://timesofindia.indiatimes.com/c...ow/7249891.cms

[stormmaker]

HYDERABAD: As many as 80,000 commercial property owners in nine municipal circles have been evading property tax in one form or the other. Some among them are paying property tax for residential usage though they are commercially exploiting their properties.

These commercial usage properties have been identified recently by the Greater Hyderabad Municipal Corporation (GHMC) by matching data of buildings with other government departments like commercial taxes and Central Power Distribution Company Limited.

As per the Hyderabad Municipal Corporation Act 1955, different rates are applicable for residential and commercial usages. Tax for commercial properties is higher than residential properties, which is between Rs one and Rs five per square feet depending upon the location of the building.

The corporation has matched nearly 1,10,000 commercial establishments located in nine circles like Circle 4, 5 (both Old City), Rajendranagar, Circle 10, Abids, Serilingampally 1 and 2 with the data available with the corporation. Recently, they found over 80,000 properties were not matching and only 29,621 properties matching with the GHMC's data in terms of usage. Again, of the nearly 30,000 properties, only 6,185 property owners have been paying property tax for commercial usage.

The maximum mismatch of commercial establishments was in Circle 10 (Khairatabad) and Abids area (circle 8) where 18,012 and 15,087 properties were not recorded in respective circles. Another 13,614 properties were not matched in Circle 4 (Charminar area).

Officials said most owners had taken building permission for residential purpose and have been using for commercial purpose. In some localities, initially they were residential buildings and later converted to commercial usage. "Nearly 80,000 properties had not matched in nine circles. Verification process is underway in the nine circles which will be completed by month-end," GHMC additional commissioner (Finance) S Hari Krishna told TOI on Tuesday.

The GHMC official said the identified building owners have been served notices to pay property tax for commercial usage. "If the entire exercise is completed, the corporation may get an additional Rs 50 crore revenue," Hari Krishna added.

The GHMC has already begun various exercises to tap property tax from unassessed properties and unauthorised buildings. The Building Penalisation Scheme (BPS) data is being used to impose 25 per cent additional property tax as penal amount on those who had failed to clear the BPS dues.

Census data is being used to bring unassessed properties into tax net. Similarly, 2,500 hostels, which have been running in residential buildings, and 2,900 cell towers in the city, were brought under tax net, which could fetch about Rs six crore to the corporation.

http://timesofindia.indiatimes.com/c...ow/7244270.cms

[jkabhi]

Any good residential project coming in begumpet or marradpally areas?
Wanted a 2/3 BHK apartment.

[rizwan3]

http://www.indianexpress.com/news/An...growing/742407

Andhra IT sector withstands the Telangana stir, keeps growing

Thu Jan 27 2011, 23:28 hrs Hyderabad:

Andhra Pradesh’s information technology industry has kept growing, figures show, though the popular perception was that it had suffered because of the Telangana movement.

IT exports from Andhra Pradesh grew by Rs 4,000 crore, or 12.5 per cent, in 2010-11 from the previous year’s Rs 32,000 crore, according to statistics with the Information Technology and Services Industry Association of Andhra Pradesh (ITsAP). If the growth continues this way, principal secretary, Information and Technology, K Ratna Prabha says, IT exports should cross Rs 40,000 crore in 2011-12.

Several IT majors are looking at Hyderabad to expand their operations. Existing IT hubs like Madhapur, Gachi Bowli and Kondapur will face competition from new ones being developed at Uppal, Pocharam, Shamirpet and Shamshabad.

Hyderabad is already home to nearly 1,300 IT companies, with some 100 small and big firms having set up facilities in the last two years. Facebook and JP Morgan are among those that have started operations in Hyderabad.


Royal DSM, a Netherlands-based Fortune 500 company, is looking at setting up back-office operations and an IT support services centre in the city. A team from the Dutch company met IT Minister Ponnala Lakshmiah and other senior government officials on January 12 to look for space and facilities on offer.

Many Indian companies too are looking at Hyderabad to expand their operations beyond their present bases, mostly in Bangalore or Pune. Among these is Bangalore-based Honeywell Technology Solutions, which opened a research and development centre in Hyderabad on Sunday.

Special secretary, IT, M Gopi Krishna says that last year 4 million square feet of IT office space was taken and space totalling another 9 million square feet is being developed for use in the next couple of years. “Real estate developers and builders are alive to this growing demand from IT. Besides the usual hubs, new development exclusively for IT is going on at Uppal, Pocharam, Shamirpet and Shamshabad areas. All of this will be ready by next year,” Gopi Krishna says.

UnitedHealth Group and JP Morgan came here at a time when there were fears about the agitation. Now they are happy that they chose Hyderabad because they have grown tremendously. Last week, JP Morgan celebrated the completion of one year in the city in a big way,” Gopi Krishna adds.
The IT Minister is in consultation with the Centre for setting up two greenfield IT centres at Maheswaram and Uppal on the outskirts of Hyderabad. The state government is also starting work on IT towers in tier-II cities like Vishakhapatnam, Warangal and Tirupati.

The state government is already preparing for the expected leap forward in 2011-12 by organising a two-day conference and exhibition, AdvantageAP, on March 1 and 2.

“The conference and exhibition will provide a forum for IT & ITES companies, academic institutions, governments, end-customers (users) of various industries, to collaborate and leverage the enabling environment that AP has to offer. It will help showcase and understand the solutions devised and developed by AP-based IT & ITES companies, the preferential policies offered by Government of Andhra Pradesh, infrastructure availability and expansion plans, talent availability, potential offered by tier-II cities in the state and opportunities in industry sectors like manufacturing, retail, government, banking and financial services, healthcare, infrastructure, innovation and investment,” an official of ITsAP says.

[prasanna724]

Manjeera Have different projects with different rates in hyderabad ( Gopanapally, JNTU Road, LB NAgar, Qutbullapur..)

We take pleasure in introducing ourselves as Manjeera Construction Ltd. The real estate arm of the diversified Manjeera Group. We are focused in area of Constructions, Hotels & Resorts, and Retail Holdings. Manjeera is a name reckons with in the field of real Estates in Hyderabad.


The major companies of the group are as follows:

1. Manjeera Construction Ltd

2. Manjeera Estates Pvt LTD

3. Manjeera Hotels & Resorts Ltd

4. Manjeera Retail holdings Pvt Ltd

5. GM Infra ventures Pvt Ltd

6. Manjeera Projects

With our unwavering commitment to delivering landmark residential & commercial projects across Hyderabad over the past 25 years. We at Manjeera would like to introduce our newest residential Projects.


Residential:

Manjeera Diamond Towers - Gopanpally - http://www.manjeera.com/mdt/index.html

Manjeera Diamond Villas – Gopanpally - http://www.manjeera.com/villas/html/about.html


Manjeera Trinity Homes - JNTU- Hitec city road - http://www.manjeera.com/trinity-homes/index.html

Manjeera Majestic Homes - JNTU- Hitec city road - http://www.manjeera.com/majestic-homes/index.html



Manjeera is the first Construction industry player in Hyderabad & the second in India to enlist in CQRA (Construction Quality Audit & Rating) - CIDC (The Construction Industry Development Council)for its quality intensive project. It is also a member of CREDAI-AP, Builders Forum and IGBC (Indian Green Building Council).

For more details or log on to our Website www.manjeera.com

[stormmaker]

Vestian firms up Rs1,000-crore India realty plan

HYDERABAD: Chicago-based Vestian Global Workplace Services, an integrated real estate services provider, on Tuesday said it would invest `1,500 crore in India and China over the next 18 months. The company, which raised the fund from global investors, said about 70 per cent of the proposed investment was earmarked for the Indian market.

“We have started interacting with the developers in India and once we have the SEC approvals in place, we will start investing,” said Shrinivas Rao, CEO, Asia Pacific, Vestian Global Workplace Services.

Within India, the company will focus on three key southern markets including Bangalore, Chennai and Hyderabad. Globally, it is looking at development of commercial space in India, China and the MiddleEast.

Explaining the increasing need for office workspace in Hyderabad despite ambiguity over a separate state, Rao said, “Within the last three quarters, about five million sq.ft office space has been absorbed by corporates creating about 50,000 jobs in Hyderabad.”

According to estimates, office space of about 2.5 million sq.ft is lying vacant.

“We are exploring investment potential in all categories including new ventures and distressed projects. Once the SEC approvals are in place by end of February, we hope to sign agreements with developers in the next three months,” Rao said.

[Babji]

Date:07/02/2011 URL: http://www.thehindu.com/2011/02/07/s...0762300300.htm

HMDA auctions may determine ‘real' scene

Staff Reporter

Over 250 enquiries registered on the first day after the authority announced the date for auction of plots
Majority of enquiries pertain to Gopanpally where upset price for plots is 11,000 per sq. yard
Of 97 plots, fresh ones offered only in Gopanpally while rest are those unsold last time

HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) move to go in for auction of plots appears to have started off on optimistic note with enquiries pouring in on the first day itself.

Yet, given the prevailing real estate scenario, the big if is how many of these enquiries get converted into actual bid participation. According to HMDA officials, more than 250 call enquiries were received on Saturday and in an interesting trend, a high majority of these turned out to be for 17 new plots at Gopanpally. Of the 97 plots put for auction, only Gopanpally has fresh plots to offer while the rest were the ‘left over plots', ones that failed to get buyers in earlier auctions.

Almost every second enquiry call happened to be about Gopanpally though the upset price has been fixed at Rs.11,000 per square yard which is about Rs.1,000 more than most others. “Enquires for this location are mostly from software professionals who seem to prefer it given the proximity to the IT area of Gachibowli,” said an official.

Nandagiri hills: Meanwhile, fingers remain crossed over the fate of Nandagiri Hills land which has a spread of nearly five acres and the upset price fixed working out to around Rs.114 crore. Given the high pricing, it remains to be seen the kind of response it would generate among prospective bidders.

To facilitate loans for the successful bidders, the HMDA has already tied-up with LIC and talks were on with few other financial institutions. “Given our NOC which means a clear title and does away with tedious title verification process, the process of loans become that much more easier compared to private developer or builder,” an official said.

This round of HMDA auctions had come at a crucial phase for the real estate industry in the city and suburbs as the response could provide an insight into the mood and sentiment of the end-users. However, a clear picture would be available towards the month-end when the bids are opened.

not too bad!

[rockystone]

Hindujas in talks with Italian co for $2 bn realty projects

Conglomerate Hinduja Group is in talks with Italian construction company Pessina Construzioni to develop four real estate projects, costing $2 billion (over Rs 9,000 crore), in India.

"Pessina Construzioni is one of the foremost firms in the Italian construction industry. We have approached them to develop four projects of $two billion in India ," Prakash P Hinduja, Chairman, Advisory Board of Hinduja Bank, Switzerland, said.

The four projects, including both residential and commercial spaces, will be developed in Bangalore and Hyderabad in an area of 1,002 acres, he said.

Pessina Construzioni, which is in the construction business for last 60 years, has been building residential and office buildings, industrial buildings, healthcare infrastructure and road-building throughout Italy .

"We had first meeting with Hinduja Realty Ventures recently. It is a very large project for us. Nothing has been finalised yet," Dott Roberto Reale, the International Business Developer of Pessina Construzioni, said.

Hinduja Realty Venture is the three-year-old real estate arm of the Hinduja Group. It currently has 30 million square feet to undertake development, including integrated township, residential complexes, IT and Knowledge parks, hospitality and retail.

In September last year, the company had announced that it will invest Rs 5,500 crore to develop four realty projects in Bangalore, Hyderabad and Chennai.

The Hinduja Group companies include Ashok Leyland , Gulf Oil Corporation Ltd , IndusInd Bank and others across sectors.

The Group employs over 40,000 people and has offices in many key cities of the world and all the major cities in India.

[Babji]

Date:13/02/2011 URL: http://www.thehindu.com/2011/02/13/s...1355070700.htm

Andhra Pradesh hurtling towards a financial crisis
Special Correspondent
HYDERABAD: The State Government is heading for a “deep financial crisis” with dues to various welfare and developmental activities taking the toll of the significantly reduced fund inflows to the ex-chequer.

Well intentioned programmes like the Jala Yagnam, fee reimbursement to students and housing for weaker sections on a saturation mode, free power to farm sector and public health programme Arogyasri, to name a few, are taking the toll of the already dwindling State's finances. The State, according to the Finance Department officials, is landed in the proverbial “riding the tiger without knowing how and when to get down” situation as of now with no immediate remedy, except hoping for increased devolutions from the Centre”, in sight.

“From a growth rate of over 12 per cent a couple of years ago, the State slipped to less than eight per cent now. It should, however, continue the schemes which were launched at the height of economic boom without taking into account the possible lows on the economic front,” a senior official told The Hindu. The Government is yet to release the first instalment of fee reimbursement, amounting to over Rs. 3,400 crore for the current financial year, coming to close on March 31. Officials admit that the amounts released so far helped in clearing dues pertaining to the fiscal years 2008-09 and 2009-10 with the dues of the current fiscal set to carry forward to next financial year.

“Even if a part of the dues are released in the coming days, the balance will be carried forward to the next year mandating much higher allocation. Given the rate of inflows, this will entail a steep reduction in one or other welfare measures,” the official said.

The fate of 24 lakh students hangs in balance as the managements of engineering and other professional colleges threatened to indefinitely close their institutions if the government did not release funds before this month-end. The managements are sore that over 400 out of the 700 engineering colleges have been categorised as NPAs by banks and 150 of them face threat of closure if funds are not released on time.

Risk factor: Officials are apprehensive that scrapping or modification of the fee reimbursement scheme would result in a serious backlash. “The Government is unlikely to take the risk in the current volatile political situation.”

Coupled with the prospects of indefinite closure of the colleges, the government is facing pressure from the contractors of Jala Yagnam programme who have threatened to stop the ongoing works on the irrigation projects if the it failed to release their dues. As against the budgetary allocation of Rs. 15,011 crore made for irrigation projects this year, about one-third Rs. 5,500 crore had actually been released.

With the financial year set to close in less than a month and a half, the Finance Department practically finds itself in a Catch 22 situation for releasing the over Rs. 9,500 crore budgeted amount. Coming in the midst of the financial constraints is the Rachabanda programme, the mass contact programme entailing an expenditure of over Rs. 2,500 crore for on the spot redressal of grievances pertaining to welfare schemes.

rumours are that GoAP is cutting Q4 funds for many departments ...

[Babji]

Originally Posted by gentem

Office space absorption to rise by 24% in 2010

Out of total absorption this year, Bangalore topped the list with 9.9 million sq ft, followed by national capital region (5.44 million sq ft), Hyderabad (5.25 million sq ft) and Mumbai (4.37 million sq ft)

PTI
New Delhi: The absorption of office space is estimated to rise by 24% to 32.65 million sq ft during 2010 in the eight major cities as corporates are on an expansion spree, according to property consultant Cushman and Wakefield.

The absorption stood at 26.29 million sq ft in 2009, the consultant said in a statement.

Out of total absorption this year, Bangalore topped the list with 9.9 million sq ft, followed by national capital region (5.44 million sq ft), Hyderabad (5.25 million sq ft) and Mumbai (4.37 million sq ft).

When compared with last year, Hyderabad witnessed the maximum growth in absorption at 96%.

The report further revealed that the fresh pre-commitments for office space created in 2010, due to be absorbed over the next two years, accounted for 9.2 million sq ft, which is double of last year’s 4.7 million sq ft and stands testimony to the growth plans by the corporate sector.

Almost all the major cities recorded pre-commitments of commercial office space in 2010 with Bangalore, Mumbai and Pune being the most significant ones registering over one million sq ft, C&W said...

Supply in 2010 was recorded at 43 million sq ft, which is 17% less than 2009. “This is mainly due to the cautious approach adopted by developers in order to control the high vacancy of approximately 20% in the market”...

On rentals, C&W said most micromarkets witnessed about 5-15% appreciation over last year. However, the last quarter of 2010 has seen rentals stabilising across locations.

i saw this by chance and wanted to share ... looks like its been posted here too, already ... Hyd Metro should help keep up with the momentum - hopefully!

[kdlara007]

Originally Posted by Babji

i saw this by chance and wanted to share ... looks like its been posted here too, already ... Hyd Metro should help keep up with the momentum - hopefully!

Compared to 2009, Hyderabad did really better in terms of absorption i.e. 96%. However, it still lagged behind Bengaluru in terms of million sq. feet by a wide margin in 2010. Partly it may be due to the unresolved Telangana issue. Hopefully, this year we would get close to Bengaluru.

[Babji]

Date:05/03/2011 URL: http://www.thehindu.com/2011/03/05/s...0566260300.htm

Residential property values, rentals stable

Special Correspondent
Range between Rs.3,400 and 7,200 per sft in high segment areas; Rs. 2,700 and 4,500 per sft in mid segment areas

HYDERABAD: Property values and rentals of residential units in the twin cities are likely to remain stable for the next three to six months. Values range between Rs.3,400 and 7,200 per sq.ft in high segment areas where as it is between Rs.2,700 and 4,500 per sq.ft in the mid segment regions.

High segment areas are Banjara Hills, Jubilee Hills, West & East Marredpally, Begumpet, Somajiguda, Madhapur, Gachibowli, Kukatpally and Kompalli. Mid-segment constitutes Himayatnagar, besides the above mentioned regions too.

There also has been a revival in the residential property market for the fourth consecutive quarter, a Cushman & Wakefield publication revealed. Stability in values has been attributed to the prevailing political uncertainty, uneven demand and rise in home loan interest rates.

Announcements: In the last quarter of 2010, there were announcements of nearly 3,000 residential properties spread across 11 projects primarily in the western part of the capital like Madhapur, Nanakaramguda, Hafeezpet, Kukatpally, Bachupally and Chandanagar.

Half of these projects cater to the mid-segment at about 56 per cent, 35 per cent cater to the high segment and six per cent in the affordable category. The study says that developers launched the products priced between Rs.25 lakh and Rs. 50 lakh targeting the mid-income buyers. Fresh recruitment by the IT/ITES corporates as well as those who had delayed their buying decisions in the last two years expecting a correction in real estate prices could have led to the incremental demand for the mid ranged properties, it said.

Some of the developers with location advantage witnessed moderate sales for the mid-range products and some others tried to revive the sluggish sales through promotional schemes like cash discounts on spot payment, partial payment till possession, free furnishing for early bookings, etc.

It also said that the rental values had stabilised over the last quarter.

Capital values of properties, however, suffered a dip especially in Kompalli of the high segment where there was four per cent dip leading to revision of rates.

Madhapur and Gachibowli saw marginal appreciation because of high asking rates of the newly launched products.

[rizwan3]

http://timesofindia.indiatimes.com/c...ow/7659962.cms

Solid demand for swanky homes in city
Sudipta Sengupta, TNN | Mar 9, 2011, 05.36am IST

HYDERABAD: The sale of the ailing middle class housing schemes in the city could have dropped to an all time low with most projects finding no takers even after a 30-40 per cent slash in price. Doing well, however, is the premium realty segment of Hyderabad that has witnessed a jump in sales over the last few months. And what's more, the swelling demand for these star accommodations has even encouraged developers to hike their property prices by a good 15-20%.

Be it NSL Infrastructure Lid's project 'Orion' in Raidurg or Konnect Ambience's 'Botanika' in Gachibowli, Lodha Group's venture 'Bellezza' near Hi-Tec City or Aditya Constructions' 'Empress Park' in Jubilee Hills, the rates of each of these properties have gone up by Rs 1,500 per sft in the last few months. If these premium flats and villas, spread over Rs 4,000 per sq ft, were earlier priced at Rs 5500 to Rs 6000 per sft, they are now touching the Rs 7,500 per sft mark.

"The demand in the premium sector is only surging by the day. Those capable of buying these properties do not seem to bother either about inflation, the political unrest or poor performance of the market over the last two years," said Rakesh Talwar, vice-president (marketing and sales) of NSL that is now selling its swank villas in Raidurg for Rs 3.3 crore as against Rs 2.6 crore, its price not too long ago. Similarly, Lodha that launched its 'Bellezza' project at Eden Square, between Kukatpally and Hi-Tec city, in 2009 at the rate of Rs 4,500 per sq ft has now revised it to Rs 6,300 per sq ft. Senior executives of the realty firm claim that the hike in price has failed to slow down its soaring sales. "We have sold more than 200 of our 600 villas, which is great going," said Abhishesh Jai-swal, head of sales, Lodha Group (Hyd).

And to justify their escalating rates, developers have added extravagant features to the properties. If some have thrown in an exotic club house, others have incorporated a chic spa. Then there are Italian marble floorings, modular kitchens designed by leading international brands (the price starts from Rs 12 lakh approximately) and European/Japanese lifts that cost not less than Rs 8-10 lakh. "The rich in the city want such comforts in their houses and do not mind spending a few extra lakhs or crores to get it," said real estate consultant B V P Raju adding how the drop in supply of such homes (due to a slow down in construction activity in the city) has further increased its demand.

And not just residential, premium commercial properties too seem to be doing well. After touching a low of Rs 28 per sft, during the 'T' agitations, the rentals of these office spaces have now shot to Rs 39 per sft or more. "Interested parties are in fact ready to pay as much as Rs 41 per sft in some of the leading SEZs in the city," said Sreedhar Reddy, president, AP Realtors Association.

[rizwan3]

http://www.hindu.com/pp/2011/03/12/s...1250960700.htm

Demand for office space continues in city

Vacancy rate drops to almost 13 per cent compared to 21 per cent in the previous quarter of 2009



Good start:About 1.5 million square feet of office and commercial space was occupied in the city in the last quarter of the year with existing IT/ITES firms driving the growth.

Hyderabad's commercial office space market has shown a demand led growth last year despite the political turbulence with as much as 5.3 Million Square Feet (MSF) getting absorbed. About 1.5 MSF was occupied in the last quarter itself with existing IT/ITES firms driving the growth.

Vacancy rate

Overall vacancy rate has dropped to almost 13 per cent compared to 21 per cent in the previous quarter of 2009 and 29 per cent in the last quarter of the same period. A Cushman & Wakefield research publication released at the Advantage AP – Annual IT Summit by its Executive Director Arvind Nandan showed that Madhapur and Gachibowli regions accounted for 93 per cent of absorption or 1.4 MSF, mostly in the Special Economic Zones.

Fresh commitments

Fresh commitments are to an extent of 5.28 lakh SF mostly in Madhapur SEZ. The number of lease transactions reported in the last quarter are said to be the highest in the SEZs to benefit from tax exemptions even after the current Software Technology Park of India (STPI)/ sunset clause expires on March 2011.

Increased interest

The study claims that the demand is also an indication of the increased interest among the occupiers.



However, fresh supply was just two lakh square feet at a standalone commercial development in Raidurg.

Delay

It is attributed to developers delaying construction schedules due to a sluggish recovery in the leasing market.

This year for the first quarter, the global real estate research agency estimates two million square feet to be infused with supply concentration in suburban and peripheral regions of Uppal. Suburban regions of Madhapur, Gachibowli, Nanakramguda, Manikonda and Raidurg may show rental appreciation of three to five per cent.

Stable

Rentals are more likely to remain stable in the regions of Banjara Hills Road nos. 1, 3, 10 & 12; Somajiguda, Raj Bhavan road and S.P. Road.

[rizwan3]

Space in malls in the capital saw a marginal drop of five to six per cent in the last quarter. Leasing transactions too were very limited in the absence of fresh mall supply, Cushman & Wakefield study had stated.

While market sentiments were upbeat, most retailers explored the main streets for their expansion plans. Rentals stabilised across these streets barring Himayatnagar and Jubilee Hills Road No.36 where there was an appreciation of 11 per cent and eight per cent, respectively.

Stores also got operationalised in the Inorbit Mall at Madhapur which saw a vacancy of about seven per cent. Jubilee Hills Road No.36 saw matching supply being made available by select landlords for leasing whereas overall supply on most streets was scant.The study said that fresh mall supply was unlikely in the current year .

Select mall projects in Kukatpally are under various stages of construction and are likely to be completed in 2012 only. Till then, rentals barring Madhapur are expected to remain stable .

[Babji]

Date:30/05/2011 URL: http://www.thehindu.com/2011/05/30/s...3061200300.htm

Rentals hit a plateau in the city

T. Lalith Singh
Madhapur and Kondapur continue to top the demand chart
Vacant spaces in apartments are available this season, says an agent

HYDERABAD: For those looking for residential space, this summer has lots of options to choose from. Even the rentals seem to have hit the plateau after registering an erratic up and down path in the last few years.

Contrary to the situation that was witnessed during the real estate boom when rentals peaked high and the demand for residential space was unprecedented, now both have moved in favour of the tenants.

Usually, summer season has high activity on residential rental front with tenants moving out and new ones coming in. “Most wait for the academic year to close to ensure the shifting doesn't disturb their children's education and time it with admission in new schools. That is the reason, lot of residential stock come into the market between April and June,” says J. Venkateswar Rao, a real estate agent.

For the comfort of a tenant, quite a bit of vacant spaces in the apartments are available this season, according to the agents. “Both two-bedroom and three-bedroom are available in preferred areas such as Begumpet, Somajiguda, S.R.Nagar, Banjara Hills and also Madhapur,” says Sheikh Ali, another agent. Even other areas such as Nallakunta, DD Colony and Tarnaka, which are preferred for the tutorials located there, have adequate vacant stocks.

Rentals too appear to have stabilised in the range of Rs.10,000 to Rs.12,000 for 2BR and Rs.15,000 to Rs.20,000 for 3BR based on the location and amenities available in the apartment. While this being for the prime areas, those located a bit away from the premiums spots are available at Rs.2,000 to Rs.5,000 lesser rental.

Even for the advance to be deposited, the trend of six months rental has been phased out and the prevailing trend happens to be two months advance and one month rental.

Madhapur and Kondapur continue to top the demand chart and the rentals are cited to be slightly higher there. According to Mr.Ali, IT professionals who dispersed to areas with lesser rental in the wake of economic slowdown two years ago seem to be returning to premium locations such as Madhapur, Jubilee Hills and Kondapur.

[ygvjs2000]

To every proud Hyderabadis.
Hyderabad is far better than Bangalore and other cities in India in terms of infrastructure. Bangalore is generation behind.
Source: Canada CTV.ca http://www.ctv.ca/generic/generated/...le2040449.html
Hyderabad throws down the high-tech gauntlet

The inner city of India’s newest business metropolis is similar to many on the subcontinent: A churning, honking, clanging mass of people, cars, rickshaws and feral hounds.

But heading northwest of the bustling downtown, the scenery changes dramatically. Gritty repair shops and choked intersections fade into high-end fashion stores, mansions, parks and promenades, before an entirely different world emerges: “Cyberabad,” a district of massive modern buildings that house some of the biggest names in technology and pharmaceuticals, from Google and Dell to Novartis, not to mention India’s largest infrastructure companies.

The information-technology hub of Bangalore has for years symbolized the “new” India of outsourcing and call-centres. But Hyderabad has gradually entered the global business consciousness as Bangalore’s infrastructure ages, the city grows more congested and it begins to show the strains after years of success. Indeed, in the time since former president George W. Bush visited Hyderabad in 2006 and skipped Bangalore - in a slight heard ’round India’s boardrooms - the city has become an integral economic engine for the populous state of Andhra Pradesh and a focal point for India’s new economy.

Even as it grapples with a bout of political turmoil, the city has grown to anchor a triangle of regional heavyweights in high technology and manufacturing that also includes Bangalore and Chennai. Hyderabad, and satellite-city technology hubs on the outside of major urban areas like New Delhi’s Gurgaon, are key foundations to India’s move up the value chain. The country is shifting from being a hotbed of tech outsourcing to one which nurtures homegrown giants and lures global businesses keen to tap India’s professional work force.

“Life is finer in Hyderabad – Bangalore is too crowded, and people are finding Hyderabad to be a better option,” says Satish Devaragudi, the manager of Scotiabank’s Hyderbad branch, the bank’s newest location in India. “Hyderabad is still cheaper in terms of commercial space, in terms of the cost of living.”

Hyderabad’s march to success – which has made the city a beacon for other urban areas across India – is the result of the bold vision of Chandrababu Naidu, the top politician of Andhra Pradesh state. Taking power in the mid-90s, the entrepreneur set about making Hyderabad a hub for big business. This was no easy task in India, a country where red tape and lethargic bureaucracies are the norm. He sold land quickly and cheaply; promised an uninterrupted power supply; provided top-rate digital infrastructure; and plowed significant government resources into wooing companies to Hyderabad.

T. Hanuman Chowdary, who was Mr. Naidu’s adviser for IT, remembers the chief minister took the mission very seriously. “He did a marvellous job,” says Mr. Chowdary, who now runs a telecom think tank and works for Tata Consultancy Services. He notes that the minister took the mission extremely seriously, but also quite personally, often intervening himself: Once, Mr. Naidu launched into an hours-long Power Point presentation to Microsoft founder Bill Gates in order to convince him that the company’s first R&D centre outside Redmond should be here.

“Hyderabad was pretty strong in their pitch,” says Amit Chatterjee, the head of Microsoft India’s 1,600-person strong R&D division in Hyderabad. “They were clearly very eager.”

Mr. Chatterjee, who was born in India and went to school near Kolkata before working for Microsoft in the United States, has been in Hyderabad for the past 12 years, and praises the cosmopolitan nature of the city. It has changed dramatically since he arrived, with infrastructure improving along with telecommunications links and connectivity. The city also has a new, gleaming airport that is connected to the city by a quick, functional flyover. Mr. Chatterjee notes that when employees fly in, they can be at Microsoft’s office in around 30 or 40 minutes, whereas in more congested Bangalore a similar trip could take around two hours.

There is also an abundance of land: For every huge corporate complex in “Cyberabad”, or Hi-Tec City as it’s also known, there seems to be at least one more under construction.

Ashwin Joshi, who is the executive director of York University’s Schulich MBA program in Mumbai, is going to help relocate their temporary campus down to Hyderabad once expected legislative changes allow foreign schools to grant degrees on Indian soil. For their new building, Schulich is planning to use the same infrastructure firm – the GMR Group – that built Hyderabad’s award-winning airport.

His institution will be in good company, as well: Hyderabad is already home base for the Indian School of Business, which for four years in a row has placed within the Top 20 of the Financial Times’ global MBA rankings, and is already expanding to new locations outside the city.

Hyderabad “is the only city in India where infrastructure is actually ahead of demand,” Mr. Joshi says. “In terms of infrastructure, Bangalore is a generation behind.”

[ranga]

Originally Posted by ygvjs2000

To every proud Hyderabadis.
Hyderabad is far better than Bangalore and other cities in India in terms of infrastructure. Bangalore is generation behind.
Source: Canada CTV.ca http://www.ctv.ca/generic/generated/...le2040449.html
Hyderabad throws down the high-tech gauntlet

The inner city of India’s newest business metropolis is similar to many on the subcontinent: A churning, honking, clanging mass of people, cars, rickshaws and feral hounds.

But heading northwest of the bustling downtown, the scenery changes dramatically. Gritty repair shops and choked intersections fade into high-end fashion stores, mansions, parks and promenades, before an entirely different world emerges: “Cyberabad,” a district of massive modern buildings that house some of the biggest names in technology and pharmaceuticals, from Google and Dell to Novartis, not to mention India’s largest infrastructure companies.

The information-technology hub of Bangalore has for years symbolized the “new” India of outsourcing and call-centres. But Hyderabad has gradually entered the global business consciousness as Bangalore’s infrastructure ages, the city grows more congested and it begins to show the strains after years of success. Indeed, in the time since former president George W. Bush visited Hyderabad in 2006 and skipped Bangalore - in a slight heard ’round India’s boardrooms - the city has become an integral economic engine for the populous state of Andhra Pradesh and a focal point for India’s new economy.

Even as it grapples with a bout of political turmoil, the city has grown to anchor a triangle of regional heavyweights in high technology and manufacturing that also includes Bangalore and Chennai. Hyderabad, and satellite-city technology hubs on the outside of major urban areas like New Delhi’s Gurgaon, are key foundations to India’s move up the value chain. The country is shifting from being a hotbed of tech outsourcing to one which nurtures homegrown giants and lures global businesses keen to tap India’s professional work force.

“Life is finer in Hyderabad – Bangalore is too crowded, and people are finding Hyderabad to be a better option,” says Satish Devaragudi, the manager of Scotiabank’s Hyderbad branch, the bank’s newest location in India. “Hyderabad is still cheaper in terms of commercial space, in terms of the cost of living.”

Hyderabad’s march to success – which has made the city a beacon for other urban areas across India – is the result of the bold vision of Chandrababu Naidu, the top politician of Andhra Pradesh state. Taking power in the mid-90s, the entrepreneur set about making Hyderabad a hub for big business. This was no easy task in India, a country where red tape and lethargic bureaucracies are the norm. He sold land quickly and cheaply; promised an uninterrupted power supply; provided top-rate digital infrastructure; and plowed significant government resources into wooing companies to Hyderabad.

T. Hanuman Chowdary, who was Mr. Naidu’s adviser for IT, remembers the chief minister took the mission very seriously. “He did a marvellous job,” says Mr. Chowdary, who now runs a telecom think tank and works for Tata Consultancy Services. He notes that the minister took the mission extremely seriously, but also quite personally, often intervening himself: Once, Mr. Naidu launched into an hours-long Power Point presentation to Microsoft founder Bill Gates in order to convince him that the company’s first R&D centre outside Redmond should be here.

“Hyderabad was pretty strong in their pitch,” says Amit Chatterjee, the head of Microsoft India’s 1,600-person strong R&D division in Hyderabad. “They were clearly very eager.”

Mr. Chatterjee, who was born in India and went to school near Kolkata before working for Microsoft in the United States, has been in Hyderabad for the past 12 years, and praises the cosmopolitan nature of the city. It has changed dramatically since he arrived, with infrastructure improving along with telecommunications links and connectivity. The city also has a new, gleaming airport that is connected to the city by a quick, functional flyover. Mr. Chatterjee notes that when employees fly in, they can be at Microsoft’s office in around 30 or 40 minutes, whereas in more congested Bangalore a similar trip could take around two hours.

There is also an abundance of land: For every huge corporate complex in “Cyberabad”, or Hi-Tec City as it’s also known, there seems to be at least one more under construction.

Ashwin Joshi, who is the executive director of York University’s Schulich MBA program in Mumbai, is going to help relocate their temporary campus down to Hyderabad once expected legislative changes allow foreign schools to grant degrees on Indian soil. For their new building, Schulich is planning to use the same infrastructure firm – the GMR Group – that built Hyderabad’s award-winning airport.

His institution will be in good company, as well: Hyderabad is already home base for the Indian School of Business, which for four years in a row has placed within the Top 20 of the Financial Times’ global MBA rankings, and is already expanding to new locations outside the city.

Hyderabad “is the only city in India where infrastructure is actually ahead of demand,” Mr. Joshi says. “In terms of infrastructure, Bangalore is a generation behind.”

Notwithstanding the self patting Hyderabad infrastructure is good but in bits and pieces.There are many localities in the twin cities where infrastructure is much worst than Bangaluru.Despite being a KATTAR Hyderabadi i call spade a spade like any other old Hyderabadis.

[ygvjs2000]

Dear Mr. Ranga,
I do not know your problem. You seem be be negative in all your comments. You have the freedom of speech but not the entire world is negative. You have to make good from bad and be optimistic.

Originally Posted by ranga

Notwithstanding the self patting Hyderabad infrastructure is good but in bits and pieces.There are many localities in the twin cities where infrastructure is much worst than Bangaluru.Despite being a KATTAR Hyderabadi i call spade a spade like any other old Hyderabadis.

[HydSkyScraper]

Originally Posted by ranga

Notwithstanding the self patting Hyderabad infrastructure is good but in bits and pieces.There are many localities in the twin cities where infrastructure is much worst than Bangaluru.Despite being a KATTAR Hyderabadi i call spade a spade like any other old Hyderabadis.

Mr.Kattar,

C'Mon Man! I stayed in Bang for 8 yrs...they are worst than hyd. And post #97 is absolutely right.

ps:Too much negative thinking is injurious to health ;-)