Hyderabad
The 400-year-old city of Hyderabad on the banks of the Musi River is the capital of Andhra Pradesh in Southern India. Long a city known for its rich history and tradition, Hyderabad is now competing with Bangalore and Chennai for the crown of India’s IT capital and Microsoft, Google and Oracle have opted to locate their India headquarters there. The city is quickly becoming a sprawling metropolis of shopping malls and glass-fronted office buildings and swathes of its central districts are under construction or renovation. But although most non-Indians traveling to the city do so on business, there is much of the stunning, typically Indian culture and architecture in Hyderabad around for those who take the time to seek it out.
Hyderabad real estate guide
Hyderabad’s real estate market is emerging from a decade of unprecedented growth and entering into a comparative slowdown. Many of the short-term real estate speculators and traders who had been turning a strong market into a unsustainable bubble have been almost entirely edged out leaving the serious end user buyers to keep what will soon become a more realistically priced market. Local developers are reporting that the growth rate of property values has slowed down, and although absolute prices are steady at present, this is unlikely to be the case in 2009.
A typical mixed-use project requires as many as 40 regulatory approvals, involving massive layers of local authorities. Complicated property tax and stamp duty structures are creating higher transaction costs. High input costs, primarily land cost, have taken the wind out of many developer’s sails. Land prices have grown to outrageous levels; in some cases land cost representing 50 to 60 percent of the total development cost. In comparison, land cost in Thailand represents around 20 percent of the total development cost.
Condos in Hyderabad
The fact that most overseas visitors who come to Hyderabad do so for business means that condominium units rank as the most popular. The massive profits becoming available to developers over recent years has led a varied international band of firms to launch projects. Among them is Malaysian property developer Sunway City Bhd which recently announced that is to partner local firm MAK Projects Private Ltd to develop a US$119.1 million condominium project in the city. More on buying condos in Hyderabad.
Houses and land in Hyderabad
Although space restrictions mean that condominium units are by far the most popular option for overseas buyers in Hyderabad, there are several areas dominated by large one-off villas. Land in Hyderabad also occasionally comes up for scale. Leafif Villa Plots is once such release, which is located in an up-and-coming region on a growth corridor running for 22km from the new Hyderabad international airport which opened earlier this year. The airport is connected to the city with a new expressway, which will be completed early next year. More on buying houses and land in Hyderabad.
Top tips for Hyderabad property
Guide to buying condos in Hyderabad
Guide to buying houses and land in Hyderabad
