Hyderabad the city of pearls, has been long famous for its Charminar, Husain Sagar Lake and Hyderabadi Biryani. Its old city charm; the hustle bustle; the noise of auto rickshaws; the road side vendors shouting their throats out; the mouth-watering street food joints; evening lights inspired by 100W bulbs, shining in all their glory; the typical Hyderabadi lingo – a mix of Lucknow thebe with a dash of Urdu; these are typical sentiments with which Hyderabad is normally associated. However, the city has crossed quite a few development milestones in the last decade. Hyderabad can be clearly divided into the old city and the new metropolis. The construction, style of living and infrastructure accordingly define this segregation.
Real estate developers in Hyderabad have also followed the pattern in the city; with the old city sticking to the colonial style of construction, whereas the new city has absorbed all the modern trends. Areas of Banjara hills, Jubilee Hills, Gachibowli, Hitech City etc. define modern Hyderabad, with a mix of residential, commercial and IT parks.
Real Estate in Hyderabad has a healthy mix of affordable, mid and luxury segment projects, catering to the needs of a variety of end users. The property prices in Hyderabad vary from anywhere between INR 2000/- to INR 8000/- per square feet, depending on the area and facilities being offered as part of the project. Banjara & Jubilee hills, Necklace Road are the most expensive in terms property rates. Gachibowli, Kavadiguda, Kondapur, Madhapur cater to the mid segment property rates. Affordable housing is available in Alakapur Township, Bandlagauda, Kundanpally, Nagaram and Uppal. As these localities are spread across the city, property in Hyderabad offers flexible availability in almost all neighbourhoods.
As compared to other metropolises the average property rates in Hyderabad are reasonable and well justifiable, which attract the end user. Hyderabad real estate market attracts lot of investment form NRIs or Indian diaspora. Telangana has a reasonable population which has temporarily, as well as, permanently moved out to middle-east countries due to better job prospects and are potential investors for buying property in Hyderabad. Due to this reason a number of property fairs are being organised in the middle-east countries specifically for real estate in Hyderabad, aimed at targeting the Indian diaspora.
Hyderabad is one of the few cities which has stood its ground during the present slow-down in the real estate sector in India. Whereas, all major cities have gone through a price correction, property prices in Hyderabad have not dropped; this is demonstrative of the inherent resilience of property market in Hyderabad.