Source: Nyoooz.com
Summary: Rosy Picture? City realtors and builders foresee positive growth after TSIIC’s e-auction? An acre of land costs between `6 and 18 crore in hotspot locations in the city? Yet, land prices here are 30 to 40 pc cheaper than those in Bangalore, Chennai? Cheaper land prices and better facilities make Hyderabad preferred location We have been saying for the past six months that Hyderabad is going to experience a positive recovery and the TSIIC’s e-auction has proved it. The last stretch of ORR will be completed soon and metro rail will also come into operation. “While an acre of land at Raidurgam was sold for `30 crore, the highest price recorded till now in Hyderabad, in the same location some lands fetched between `6 and 12 crore. This has surely given the required boost to Hyderabad realty,” says Gummi Ram Reddy, president of the Telangana chapter of Confederation of Real Estate Developers’ Associations of India.
HYDERABAD: The mind-boggling price at which lands in the western Hyderabad region were sold in the recent e-auction held by the Telangana State Industrial Infrastructure Corporation (TSIIC) has given boost to the city realty which is on the path of recovery. The question that sprang in the minds of investors and realtors after the e-auction was “Is it just an isolated case of a few prime lands fetching a fancy amount or is it a sign of the things to come in the near future?” Not just the realtors in Hyderabad but those from other parts of India also think that the prices commanded in e-auction were in tune with the positive trend to be witnessed by Hyderabad realty in the coming days. “While an acre of land at Raidurgam was sold for `30 crore, the highest price recorded till now in Hyderabad, in the same location some lands fetched between `6 and 12 crore. Similarly, an acre at Manikonda was sold between `7 and 14 crore. We have been saying for the past six months that Hyderabad is going to experience a positive recovery and the TSIIC’s e-auction has proved it.
This has surely given the required boost to Hyderabad realty,” says Gummi Ram Reddy, president of the Telangana chapter of Confederation of Real Estate Developers’ Associations of India. A positive outcome of TSIIC’s e-auction was local companies like Aurobindo Pharma bought the lands for office space by paying a whopping sum, thus showing the willingness and capacity of the local investors to invest in Hyderabad. Western Hyderabad, which comprises real estate hotspots like Madhapur, Gachibowli, Raidurgam, Hitec City and Manikonda, is considered a real estate hotspot not just in Hyderabad but in the entire South India. Though these lands in the hotspot areas commanded fancy prices, the prices are cheaper than the prices of similar prime lands in cities like Bangalore and Chennai, thus making Hyderabad a favourite for realtors from all over India. Areas such as Raidurgam, Manikonda and Gachibowli in western Hyderabad have IT companies, a good environment, are in proximity to the airport and Outer Ring Road, and some other advantages. The last stretch of ORR will be completed soon and metro rail will also come into operation. Rosy Picture ? City realtors and builders foresee positive growth after TSIIC’s e-auction ? An acre of land costs between `6 and 18 crore in hotspot locations in the city ? Yet, land prices here are 30 to 40 pc cheaper than those in Bangalore, Chennai ? Cheaper land prices and better facilities make Hyderabad preferred location. .
This has surely given the required boost to Hyderabad realty,” says Gummi Ram Reddy, president of the Telangana chapter of Confederation of Real Estate Developers’ Associations of India. A positive outcome of TSIIC’s e-auction was local companies like Aurobindo Pharma bought the lands for office space by paying a whopping sum, thus showing the willingness and capacity of the local investors to invest in Hyderabad. Western Hyderabad, which comprises real estate hotspots like Madhapur, Gachibowli, Raidurgam, Hitec City and Manikonda, is considered a real estate hotspot not just in Hyderabad but in the entire South India. Though these lands in the hotspot areas commanded fancy prices, the prices are cheaper than the prices of similar prime lands in cities like Bangalore and Chennai, thus making Hyderabad a favourite for realtors from all over India. Areas such as Raidurgam, Manikonda and Gachibowli in western Hyderabad have IT companies, a good environment, are in proximity to the airport and Outer Ring Road, and some other advantages. The last stretch of ORR will be completed soon and metro rail will also come into operation. Rosy Picture ? City realtors and builders foresee positive growth after TSIIC’s e-auction ? An acre of land costs between `6 and 18 crore in hotspot locations in the city ? Yet, land prices here are 30 to 40 pc cheaper than those in Bangalore, Chennai ? Cheaper land prices and better facilities make Hyderabad preferred location. .
No comments:
Post a Comment