The Nizam's city - Hyderabad - is set to become Cyberabad now. The city's hit-tech airport has added sheen to its developing infrastructure and the Real Estate segment.
Property rates for residential space in the city centre range between Rs 2,200 - 4,500 per sq ft. The capital value for commercial property range between Rs 25,000 - 60,000 per sq yard. Home seekers are now flocking to the city suburbs where the residential space comes for Rs 1,600 - 4,000 per sq ft.
Recently, the Hyderbad Urban Development Authority (HUDA) announced its plans to develop an expressway in the city's outer circle to facilitate transport to these areas. This means, that the infrastructure and real estate segments of the city's suburbs will get a boost. Sensing this boost in development, IT companies like Wipro, TCS, HCL have already established their bases in Hyderabad.
Will all these developments dampen the commercial prospects of Bangalore? Property Prices in Bangalore are way much higher than Hyderabad. Now, when Hyderabad is offering world-class infrastructure, will Bangalore’s popularity as IT destination face a set-back?
