JLL,Property Research firm
Hyderabad: Real Estate market consultant JLL will release a white paper on the growth opportunities in the Hyderabad real estate market, later this week.
The findings of the study, captured from a two-month research from the JLL teams in Hyderabad and Mumbai, would reflect the housing and office requirements of Hyderabad up to 2022.
“The study, done using advanced statistical models captures the potential office space, retail commercial requirement and the housing stock of Hyderabad for the next 8-9 years,” said Sandip Patnaik, managing director of JLL Hyderabad.
Speaking at the announcement of Telangana Real Estate Developers Association (Treda)'s three-day property show starting October 17, Patnaik said the property market here was witnessing consolidation and “would see across the board price appreciation in residential market from January next year.”
Hyderabad realty, according to him, was facing “apprehension” from buyers and “would rebound in the next 3-5 months.”
While the commercial and office space leasing has been buoyant with Deloitte announcing an absorption of 2 million sft and Novartis 1.5 mn sft, the office space activity this calendar year up to October has been around 3.7 mn sft, most of it in the financial district, he said.
According to Patnaik, the city has to even leverage the eastern circuit to a greater extent to exploit commercial and office space, as the financial district currently was witnessing congestion, and due to which, the rentals per sft here moved from Rs 34 per sft in the last year to around Rs 43 now.
Raheja is coming up with its IT Park,while the IT services major Infosys is setting up its new campus at Pocharam, both lying in the eastern side of the city.
Speaking to mediapersons, Treda president P Dasharath Reddy said the association was expecting footfalls of 60,000 for the property show and almost 80 per cent of stalls had been booked by now.