White paper on Hyderabad real estate

This week, JLL (real estate market consultant) will release a white paper on the growth opportunities in the Hyderabad real estate market. A two-month research from the JLL team in Hyderabad and Mumbai would reflect the housing and office requirements of Hyderabad up to 2022.

Sandip Patnaik, managing director of JLL Hyderabad, says, “The research done using statistical models encapsulates the housing, potential office space and retail commercial requirements for the next 8-9 years.

During the three day property show, TREDA’s (Telangana Real Estate Developers Association), Patnaik announced that the real estate market here was witnessing consolidation and would see across the board appreciation in residential market from January next year.

According to him, Hyderabad realty was facing “apprehension” from buyers and “would rebound in the next 3-5 months.”

“With Deloitte announcing inclusion of 2 million square feet and Novartis planning for 1.5 million square feet, while the commercial and office space leasing has been optimistic, the office space activity this October has been around 3.7 million square feet, most of it in the financial district,” said Patnaik.

“Since the financial district currently was witnessing congestion, the city has to even make use of the eastern circuit to a greater extent to utilise the commercial and office space. The rental values here moved from Rs 34 per square feet in the last year to Rs 43 per square fee this year,” he added.

Raheja is coming up with its IT Park whereas the major IT services - Infosys is setting up its new campus at Pocharam, both lying in the eastern side of the city. Treda President P Dasharath Reddy stated, “The alliance was anticipating footfalls of 60,000 for the property show and the 80 per cent of stalls have been booked by now.”