Under the deft leadership of Chief Minister Chandarbabu Naidu Hyderabad entered the race to become the Information Technology hub of India. Though it may not have reached that goal yet, it may certainly do so in the in the future.
With nearly all the top IT companies present in Hyderabad, Hyderabad may soon give those who are stalwarts of Bangalores dominance in the IT domain sleepless nights, If not doing so already. Facebook is in Bangalore, so is Qualcomm (if you are reading this on an Android phone there is a good chance that the processor in your phone has been designed by Qualcomm). These are among the most dynamic IT companies in the world and they have a presence in Hyderabad. If I were from Bangalore, I would be worried.
Forget IT; Hyderabad is now also racing ahead as a Biotechnology and Pharmaceutical hub as well.
So what do all these tech wiz’s working during the day in Hyderabad and exporting software to the result of the world do at night? Well they back to their homes in Hyderabad of course. The fact that so many software engineers have moved to the city to work has largely a boon to the city. Hyderabad alone generates a third of the taxes in the state.
All this inflow of money into the state has raised the price of residential apartments in Hyderabad leading to consistently rising prices for real estate in Hyderabad over the past 3 years
Some of the top destinations for builders in Hyderabad are Faluknama Palace and Charminar. Property in Hyderabad at Faluknama Palace is relatively inexpensive with an interested buyer able to purchase a 3-bedroom flat for less than 40 Lakhs
Victory Avenues at Charminar is the scene of developments in the form of plots with fresh plots available for less than 14 lakh Rupees. What makes this destination at Kachiguda particularly attractive is that prices here have appreciated by over 15% in the past 3 years.
Property in Hyderabad at elite neighborhoods like Banjara Hills offer luxury apartments in Hyderabad, an exciting property by Shri Krishna developers offers 3 bedroom apartments starting at 1.3 crores. Lotus Properties has a development at Banjara Hills which has appreciated by over 12% over the past 3 years; with a starting price for a 4 bedroom flat here a little less than 2.6 crores.
Undoubtedly the location for luxury apartments in Hyderabad, Banjara Hills is nearly as expensive sounding as the name suggests. Possibly among the most expensive properties in the neighborhood is a development by Brigade costing nearly 5 crores for a 4 bedroom apartment.
Faluknama to Banjara Hills may seem to be on the opposite sides on the planet yet both these neighborhoods are a part of the same city. Such extremes in the price of property in Hyderabad simply shows that the city caters to home buyers of all segments; from the newly upwardly mobile having a go at the big city, to the mature sophisticated home buyer who has amassed his earnings and proven himself in the world.