The citys realty rates that have been stagnant for over a year now,are finally witnessing an upward shift.In the last few weeks alone,the rates of several apartments across Hyderabad,which had hit rock bottom in 2009-10,have jumped by a decent 10 to 15%,say market sources.The rise is more evident among projects that are either nearing completion or are ready to occupy,they add.

On this list are,PBEL Property Development India Pvt Ltds project at APPA junction,Manjeera groups twin ventures in Kukatpally,Nagarjuna Construction Companys apartment complex in Gachibowli,Aditya Homes (P) Ltds project,`Aditya Sunshine,in Kondapur,among others.All these ventures,sources say,are now costlier by a minimum of Rs 200 per square feet (sft) with some even charging a neat Rs 400 (per sft) more for their products.The Kondapur venture for instance that was available for Rs 3,200-3,300 per sft until recently is now priced at Rs 3,600 per sft.

Predictably,Manjeera Trinity and `Manjeera Majestic that are almost complete have more buyers than other ventures,that are still in their nascent stages,around them.And this,despite their slightly expensive price tag (in comparison to others) of Rs 3,500 per sft. But while this emerging trend has city developers heaving a sigh of relief,it has taken some customers by complete surprise as they had hoped that realty rates in Hyderabad would remain low for a longer while,owing to the stalemate over Telangana.

I recently checked soonto-be-complete apartments in Lingampally,Hafezpet and Miyapur.And to my surprise nothing below Rs 3,000 per sft was available at any of the sites, said IT executive Shivam Seth adding,Interestingly,these are the same projects that until six months ago were being sold for as low as Rs 2,500-Rs 2,700 per sft. And the prices are only expected to rise further,say market analysts. Apart from the `T effect,which has pushed the demand for completed apartments, it is also the governments inability to resolve the GO 45 (20% of developed area to be reserved for economically backward classes) issue that has led to this,they said.  Builders are not keen on taking up new projects unless the government revises this unfeasible clause. This has created an artificial shortage in the market leading to a marginal price rise. If this situation continues for long,property rates will soon be up by 20% or more, said C Sekhar Reddy,president,Confederation of Real Estate Developers Association of India,Hyderabad chapter. Comment : A decision on Telangana (Whether  to SPLIT, NOT to SPLIT or have Regional Council ) is all that people are looking forward to. Once that happens, things will stabilize over a month or two and then rates will increase to reach levels in other cities Keyword Tags Hyderabad News,Hyderabad Realestate, GOMS 45, EWS LIG Reservation, EWS LIG Rule, Real Estate Rate Rate News on a Scale of 5. 5th Star Correspond to 5. Shop Online for Mobiles, Discount Offers. Send Gifts, Flowers to India, Hyderabad Consumer Complaints India - Real Estate, Companies, Products