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Hyderabad Real Estate Report Oct-Dec 2020: Market Updates

160 Jan 21, 2021 Download Report
Township policy along ORR to boost realty expansionThe proposed Township Policy along the Outer Ring Road (ORR) is expected to decongest the eastern and western quadrants of Hyderabad and open the way for residential and commercial expansion. Areas that would benefit the most with these satellite townships include Kokapet, Kollur, Narsingi and Kompally, among others.
Over 1,000 units inaugurated under 2 BHK housing schemeThe State government inaugurated over 1,000 housing units in the city under 2 BHK housing scheme. These low-cost tenements, measuring around 560 sq ft, are located at Ziaguda, Ghode ki Qabra and Kattlemandi.
New IT parks under GRID Policy to usher realty growthThe plan to develop two new IT Parks in Kompally and Kollur and the conversion of eleven industrial parks into IT hubs is anticipated to fillip the city’s realty landscape. Besides the inclusion of IT towers in the industrial parks of Balanagar, Kukatpally, Moula Ali, Patancheru, Katedan and Sanatnagar would also augur well for Hyderabad’s property market.
Dharani portal launched to curb illicit transactionsThe introduction of a comprehensive online portal - Dharani is anticipated to check illegal agricultural and nonagricultural land transactions in the State. The platform would also fast-track the property registrations and land conversions by eliminating administrative regularities.

COMMERCIAL REAL ESTATE OUTLOOK


  • With COVID-19 fallout impacting the commercial market, conversion rate of office space leasing in Hyderabad was merely 10 percent of the pre-pandemic levels.
  • Somajuguda, Punjagutta, HITEC City and Begumpet recorded a few rental deals by IT/ITeS firms in Grade A offices spread within 10,000 sq ft.
  • Lease rate declined by nearly 30 percent, QoQ, due to hefty negotiations amid the existing challenges. Besides, new supply also diminished as the investor sentiment reeled under pressure.
  • Amid the restrictions on functioning of food and entertainment zones and decreased footfalls, vacancy rate in malls in Jubilee Hills and Banjara Hills increased by nearly 10 percent against the pre-COVID-19 levels.
  • Co-working spaces that were earlier the foci of small entrepreneurs and multinational firms bore the brunt as their annual leasing dipped by nearly 60 percent in Jul-Sep 2020.

 

 

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
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