Hyderabad, over time has grown on both sides of the river Musi even though it was first founded on the south bank. The original city is now called the old city and still has narrow and crowded lanes strewn with small shops and pavement sellers that sell traditional wares. Modern Hyderabad is a metropolitan area with a twin city, Secunderabad.
Due to the initiatives taken by the government and private sectors, the city has witnessed a boom in the real estate business. In a matter of few years Hyderabad has replaced Bangalore as the “Silicon Valley” of India. Planned developments and infrastructural facilities have resulted in a boom in real estate industry.
The central location of Hyderabad is another favorable factor. The city is within an hour’s flying distance from anywhere in India. Hyderabad has a vibrant mixed culture where the old world charm has effectively harmonized itself with modern technology. An industrial climate supported by an investor friendly State Government, has made Hyderabad a major attraction for real estate investment.
In a comparative study based on parameters like public health, air pollution, living space, traffic flow, public safety, and education, Hyderabad ranks above most of the other Asian cities.
One of the major business parks, HITEC City, a sprawling 158 acre site, only 14 km from the airport, has been developed as an integrated township to provide a one stop solution to the business and social needs of the IT and IT related industries. Using the natural rock formations, the area has been aesthetically designed to create landscaped gardens and fountains.
Cyber Towers, the first building to be developed in HITEC City and was completed within 15 months. A proof of the global impact of its world class facilities lies in the fact that the half a million sq. ft. that it provides was taken up by global giants including Microsoft, Oracle, GE Capital, and Toshiba.
While there is still real estate potential HITEC City, the other projects that are in different phases of development provide an opportunity for a steady growth.
Hyderabad has been on the priority list of Fortune 500 Companies for their investment plans. Their investments, government initiatives to improve infrastructure and aggressive expansion plans of domestic industrial giants make Hyderabad an extremely attractive investment option for real estate gurus. Some of the reasons that have made Hyderabad a preferred option for most companies may be summed up:
- It is a mega city that is undergoing a planned development
- The government’s focus is on developing infrastructure at a fast pace
- The climate is comfortable throughout the year
- The city has a lower cost of living compared to other metros and therefore allows high quality of life at an affordable cost
- It also houses an International School of Business
- It has developed satellite cities like HITEC City where state of the art facilities and infrastructure has been provided
There are more than a dozen mega projects that are already in progress or expected to come in the recent future. Some of the projects include:
- Hyderabad International Airport, to be known as Rajiv Gandhi International Airport, will be the biggest airport in Asia
- Software Park, initiated due to the relocation of INFOSYS from Bangalore to Hyderabad
- Hardware Park, expected to be developed in an area of nearly 2500 acres
- Fab City, semiconductor facility to be setup by SemIndia Inc., licensed from U.S based silicon-chip maker Advanced Micro Devices (AMD) Inc., with an investment of US$3 billion
- Nanotech Park, over an area of 1100 acres with a potential of providing employment to 20,000 skilled personnel
- Gems and Jewelry Park
- Textile Park, the biggest of its kind in India to provide employment to 5000 people by installing up to 2000 power loom units
- Birla Institute of Technology and Sciences, their third unit
- India’s biggest flyover and 159km, 8 lane, outer-ring-road that will link the Hyderabad International Airport to the city
- Trade Center Tower, a single 60 storey trade-tower (highest tower in India)
- Knowledge Corridor, a joint venture of the Dubai and Andhra Pradesh government, the project aims to make Hyderabad the hub for all IT activities from animation to financial software