Hyderabad is the Capital of the Southern Indian State of Andhra Pradesh. It’s a very cosmopolitan city with a huge IT population which serves, at the innumerable Offshore Development Centers and BPO Firms.
Companies Streaming in:
Hundreds of Companies from US including global players like
Microsoft, IBM, Perot, Accenture, CA, HP, ADP, GE, Convergys, Templeton, Goldman Sachs, Google, Dell, Motorola, Oracle, GE, Adobe, Sun, McAfee, Pacific, Unisys, USi, UBS, Cisco, Ericsson, Norton, Nokia, Sierra, Flextronics, Virtusa, Deloitee, Danlaw, De Shaw, have set up offices in Hyderabad.
Office space running into Millions of SFT, is still being built, at the vibrant city suburb of Guchibowli. The flag bearer was Hitec City 5 Km before Guchibowli. However in the last 5 years, Hitec City has seen peaking of building spree and the movement has now started, at Guchibowli.
Guchibowli already hosts campuses of
Microsoft, Infosys, Wipro, Polaris, Kanbay, Templeton, UBS etc. Scores of office complexes and a 7 Star Hotel is under construction.
Ramp-up of Employment:
The flow of these companies into Guchibowli, will make it one of the richest suburbs in India. The current average salary here, being
Rs.60,000 Per Month which is several times the Annual Average income of an Indian!
Already more than
6000 highly paid people are working in the campuses at Guchibowli. Within next 4 years, the number would go to a
solid 25000 people, working on cutting edge technologies, for delivery across the world. At the very senior executive levels, there would be at
least 500 expatriates, returned Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs) who require world class, spacious, villas to stay.
Coupled with this, the construction of US Consulate here, would give extreme visibility to Guchibowli and hence form magnetic attraction for further investments.
Commercial Development:
To take care of the needs of the rich clientele, several large infrastructure and construction firms are rolling in world class Residential. Commercial and Entertainment projects. Malls, Super Markets and Multiplexes of the kind seen only in Silicon Valley, is now being built by companies like
IVRCL, DLF and LANCO. The Crowning Glory would be the
90 story residential tower under early development!
Already, an Expressway of 20KM is under construction, directly connecting Guchibowli to the upcoming New International Airport. Guchibowli will be aproned by the 160 KM Outer Ring Road another ambitious project which would circle the City!
Just 2 KM from the Central Area of Guchibowli is the
“Golden Mile”; the high profile corporate business zone where Corporate Offices and IT Parks would be built during the next 2 years. The recent auction of land in this stretch by saw frantic bidding activity by large companies. 4Km away, beside the Express Highway, at Manchirevula, APIIC(Andhra Pradesh Industrial Infrastructure Corporation) is in the process of developing Business District where among others a Twin Tower of 60 Floors would come up.
The Areas of Gopanpalli, Nallagadla, Tellapur beside Guchibowli has been declared by the
Urban Development Agency of the city (HUDA) as
High-rise Zone. This is done to enable construction of skyscrapers which will house the teaming tech population of Guchibowli.
HUDA has indeed done careful planning and the advance action taken by it, need to be appreciated. Otherwise, pressure on scarce land available between Guchibowli and the Outer Ring Road would have been too heavy and the tech population in Guchibowli, would have been forced to live away, resulting in huge traffic bottlenecks and burning scarce petroleum resources!
Its rare to find a locality in India where such large scale developments are planned over the next few years.
Residential Demand:
If we put Guchibowli, Golden Mile, Business District at Mancherevua and Lanco IT Park together the upcoming demand for housing (Assuming a very pessimistic figure of just 25,000 employees in above areas, other than Guchibowli), would be above 50000 apartments and Villas, spread over 5 to 6 years.
With development of commercial centers and the spanking new residential communities, in the coming years, Gopanpalli, Nallagadla, Tellapur, Narsingi etc would see large scale occupation.
Investment Opportunity:
With such developments in the offing, Guchibowli and surrounding areas offer unparalleled opportunity for the smart ones to invest, in Real Estate.
December 2006:
Plots : Current Price Rs.14000 to 20000SQD
Payment Completion: 1 to 3 Months
Expected Price: 25000 to 35000/sqd by 2008 Dec
Villas – Current Price: 150 Lakhs to 200Lakhs
Construction Period -Over 3 Years
Expected Price: 300L to 400L by 2008 Dec
Luxury Apartments –Current Price: 40 Lakhs to 70Lakhs
Construction Period- Over 2.5 Years
Expected Price: 70L to 120Lakhs by 2009 Dec
Note: Its important to note that the payment can be made over longer period. Buying later at delivery time, would require immediate larger funding, at the then market price.
Historic Comparison:
The large scale construction activity in the surrounding areas of Guchibowli has started only in 2005. The situation is akin to commencement of such work in Hitec City suburbs in the year 2000. By 2006, we have seen real estate prices zooming several times. Land prices near Hitec City zoomed from Rs.2500 per SQD to Rs.25000/SQD. (1US$=Rs.45) Duplex houses from Rs.50Lakhs to 250 Lakhs and above. Medium Sized Apartments from Rs.9 Lakhs to Rs.40 Lakhs. (I0 Lakh=1 Million)
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