Hyderabad and Bangalore remain top office markets: JLL
July 22, 2017

According to a report by JLL India, Bangalore and Hyderabad topped the total office space leased across India's top cities in the second quarter (Q2) of 2017. Both state capitals accounted for 47 percent of the total leasing volume during the period. The report also stated that Hyderabad has witnessed a 98 percent hike in net absorption of office space, reaching 1.9 million sq ft during April-June 2017. However, in Bangalore, a marginal growth of… Read More

RERA impact: Rental prices to go up by 4% in Hyderabad
July 15, 2017

According to a report by Colliers, rental prices in Hyderabad are likely to go up by four percent in the coming months on the back of the implementation of the Real Estate (Regulation and Development) Act (RERA), 2016. It should be noted that RERA rules are yet to be notified in Andhra Pradesh. However, once in effect, the rules will push rental prices in the state north by 10 percent in the coming three years.… Read More

Telangana RERA to conform with Centre’s rules
July 14, 2017

The Telangana government is likely to adopt the rules in the Centre’s Real Estate (Regulations and Development) Act (RERA) without many deviations. This is likely to cheer homebuyers in the state as several states have diluted the norms prescribed in the central RERA. By keeping Telangana RERA rules in line with the Centre will allow the state to protect the right of homebuyers against errant developers. While RERA came into effect across the country on… Read More

Deadline for Hyderabad Metro pushed to November 2018
July 9, 2017

Hyderabad citizens will have to wait a little while longer to enjoy metro connectivity as the deadline for the completion of the metro project has been extended by 17 months. This decision has been taken after requests by the L&T Metro Rail Hyderabad Ltd (L&TMRHL) for more time to complete the project. Experts share that the project was initially scheduled to be completed by July 2017, but land acquisition issues led to the concessionaire missing… Read More

Hyderabad tops investment destinations in Asia Pacific: Report
June 15, 2017

As per the latest report by Cushman and Wakefield, six Indian cities have emerged as the top investment destinations in the Asia Pacific region, including Hyderabad, Bangalore, Chennai, Delhi National Capital Region (NCR), Mumbai, and Pune. Hyderabad tops the list due to substantial growth prospects in commercial office activity. Siddhart Goel, Senior Director, Research Services, Cushman & Wakefield, stated that global investors are now ready to leverage Indian realty markets. With improving Gross Domestic Product… Read More

Government considers new funding modes for Amaravati
June 8, 2017

In an attempt to finance the development of Amaravati, the new capital of Andhra Pradesh, the Capital Region Development Authority (CRDA) is working on a new plan. The Authority hopes to raise about Rs 14,250 crore in the next three years. The need to revise the financing plan for the project arose as CRDA has been able to acquire only Rs 14,200 crore out of the total amount of Rs 58,000 crore which needs to be… Read More

Raidurg in Hyderabad witnesses escalating land prices
May 20, 2017

While occupancy levels in Hyderabad are improving, land values in the state are also showing signs of a healthy growth. The recently held e-auction of two land parcels in Raidurg justifies the aforesaid statement. Telangana State Industrial Infrastructure Corporation (TSIIC), which recently held an e-auction for plots in Hyderabad, reported a land parcel near Knowledge City in Raidurg fetching the highest bid ever of Rs 88,000 per sq yd. TSIIC also sold a 2.84 acre… Read More

Hyderabad to have 1 lakh 2BHK homes for urban poor
April 29, 2017

This fiscal will offer about one lakh 2BHK homes to the poor in Hyderabad. As confirmed by state government officials, 300 2BHK units will be constructed for the poor in Mahbubabad district will be completed in the next six months. Kadiyam Srihari, Deputy Chief Minister (CM), Telangana recently laid the foundation stone for the project. The collector would have to identify the beneficiaries of such homes after conducting a survey. Speaking on the occasion, the… Read More

Hyderabad civic body’s property tax arrears reach Rs 1,228 crore
April 16, 2017

Officials of the Greater Hyderabad Municipal Corporation (GHMC) share that over two lakh tax payers did not pay their property taxes during the last financial year. This has led to the property tax arrears owed to GHMC reaching Rs 1,228 crore, including the interest on the arrears. The largest share of arrears of over Rs 150 crore has to be received from Khairtabad circle, which includes posh localities such as Jubilee Hills and Banjara Hills.… Read More

Hanging bridge in Hyderabad to enhance connectivity between Durgam Cheruvu and IT hub
April 11, 2017

The construction work on Hyderabad’s first cable bridge is all set to commence soon. The Greater Hyderabad Municipal Corporation (GHMC) has already taken up site preparation for the hanging bridge across Durgam Cheruvu, which will cost the civic body Rs 184 crore. The long-awaited bridge will decongest Jubilee Hills Road No 36 that experiences high traffic flow during peak hours. It will also offer a breath of relief for people who travel towards Madhapur from… Read More

Telangana government to notify RERA by May 1
April 3, 2017

The Telangana government is soon to notify the Real Estate (Regulation and Development) Act on May 1, 2017. In a bid to safeguard homebuyers and builders’ interest, the act was first introduced by the government in May 2016, and has asked all states to adopt the same within the period six months. However, by far, only a few states have notified under the law such as Uttar Pradesh, Maharashtra and Gujarat. The Telangana government has… Read More

Andhra Pradesh RERA rules notified
March 27, 2017

The Andhra Pradesh government has notified the Real Estate (Regulation and Development) Act (RERA) in order to protect homebuyers and developers’ interest in the state. As of now, regulatory authority has not been established yet. Applicable to both ongoing and new real estate projects, Andhra Pradesh RERA rules have been diluted a bit. For ongoing realty projects, the state government has excluded projects where infrastructural benefits including roads, open spaces, basic amenities and services have… Read More

Shortage of office space in Hyderabad expected to push up leasing rates
March 12, 2017

Industry experts predict that Hyderabad’s office space segment could witness a steep rise in leasing values this year on the back of the shortage of quality spaces in the city. A report by JLL points out that office space vacancy levels in Hyderabad are much lower than Delhi, Mumbai, Chennai, and Kolkata. This implies a better supply-demand equilibrium compared to other metro cities in the country. Sandip Patnaik, Managing Director - Hyderabad, JLL, shared that the nine percent… Read More

Hyderabad to amend building rules to safeguard heritage structures
February 22, 2017

Acknowledging the danger presented to Hyderabad’s heritage due to rapid development, the authorities intend to update the city’s building rules. The municipal administration and urban development department will be adding certain norms in the New Building Rules 2012 to protect heritage structures in Hyderabad. Officials have shared that the government will adopt provisions from the Model Building Byelaws 2016 that had been prepared by the Union ministry of urban development. Some of the rules likely… Read More

Hyderabad administration toughens norms to curb illegal constructions
February 15, 2017

Hyderabad administration has decided to take strong steps to prevent illegal constructions endangering life in the city. The Greater Hyderabad Municipal Corporation (GHMC) plans to amend laws and make registration harder for properties without blueprint sanctions. This step will ensure that a builder cannot sell apartments or plots without first getting the mandatory permissions from the civic body. S Devender Reddy, Chief City Planner, GHMC, explained that the revenue department has given an in-principle clearance… Read More

Telangana permits long-term leasing of waqf land
February 12, 2017

The Telangana government has given the green signal to Telangana State Waqf Board (TSWB) to allow long-term leasing of Muslim-endowed properties. The state has identified 11 such properties which can now be leased for a period of 30 years. This decision is aimed at boosting the revenue of the Waqf Board. Officials shared that the Board is facing severe fund shortage and is unable to carry out its daily operations. This is despite the fact… Read More

Infrastructure projects in Telangana hit by fund shortage
February 12, 2017

With the demonetisation move adding to the fund shortage issues of Telangana government, several infrastructure projects across the state have grounded to a halt. The state government’s decision to reign in expenses has affected the contractors working on roads, irrigation, and other infrastructure works in the state. Contractors lament that the government’s dues have piled up to around Rs 1,000 crore in the last three years. B Sugunakar Rao, Chairman – Telangana, Builders' Association of India (BAI),… Read More

Hyderabad’s draft integrated master plan in final stages
February 9, 2017

The Hyderabad Metropolitan Development Authority (HMDA) is in the final stages of preparing an integrated master plan for the Hyderabad Metropolitan Region (HMR). Speaking on this subject, T Chiranjeevulu, Metropolitan Commissioner, HMDA, shared that once the blueprint is ready, it will be sent to the state government, municipal administration and the urban development department to seek approval. A month’s time will be given to citizens to share their feedbacks which would then be incorporated into… Read More

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