In India's IT corridor, CapitaLand Investment Limited (CLI) has begun construction on Phase I of the renovated International Tech Park Hyderabad (ITPH). This Madhapur business park has a 100% lease agreement from major firms for its Block A office building. Over the course of seven to ten years, CapitaLand India Trust (CLINT) will invest in the substantial renovation of ITPH, resulting in the provision of more than 4.9 million square feet of Grade A+ office space. At ITPH, a 40-megawatt data centre will also be built. The initiative intends to boost Hyderabad's expanding information technology industry and meet the demands of major international businesses.Read more

ICRA forecasts a decline in Hyderabad's Grade A office occupancy by approximately 500 basis points to 81.0%-81.5% by March 2024, down from 86.0% in March 2023. This expected drop is attributed to a record supply addition of about 21.5 million square feet for FY2024. Despite this, ICRA remains optimistic about India's overall commercial office sector, citing the country's appeal as a hub for global capability centres and its attractive blend of skilled talent and competitive rental rates.Read more

In a heart-wrenching incident, a scaffolding collapse at an under-construction building in Hyderabad leads to the loss of three lives, including two young women, and leaves two others seriously injured. The workers, hailing from Odisha, were labouring on an allegedly unauthorized floor of the multi-story building when the catastrophe occurred. The collapsed scaffolding sent debris raining down, shaking local residents. As investigations continue, authorities are working to identify the building's owner to hold them accountable. The tragic event underscores the dangers faced by migrant laborers and raises questions about construction site safety measures.Read more

ASBL, a forward-thinking real estate company, has launched its latest project, ASBL Loft—a high-rise residential community designed to address modern homebuyers' needs. The project, located in the financial district, offers exclusive 3BHK units with outdoor living balconies and aims for accelerated completion by December 2026, thanks to innovative 'digital twin' technology, Inncircles Arena. ASBL Loft goes beyond traditional housing, offering premium services like childcare facilities, fitness and wellness spaces, and work-from-home (WFH) convenience. The design is the result of extensive research into customer lifestyles, emphasizing biophilic design principles and a strong sense of community with urban corridors.Read more

In a significant push for affordable housing, 11,700 two-bedroom flats were allotted to beneficiaries in Hyderabad recently. This allocation by the Greater Hyderabad Municipal Corporation (GHMC) responds to the 7 lakh applications received since the scheme's announcement. Minister Talasani Srinivas Yadav, who stepped in for the absent MA&UD Minister KT Rama Rao, emphasized the scheme's transparency and assured further allotments for eligible candidates. The move signals the Telangana government's dedication to enhancing the city's housing infrastructure.Read more

Hyderabad's rental market has experienced a significant increase in rent prices in the first half of 2023, driven by a growing demand for residences near workplaces as businesses return to regular operations. Employees are seeking housing options close to their offices, particularly around tech parks and commercial areas. This shift has created a competitive housing market with a supply-demand imbalance, prompting landlords to raise rents by over 20%. About two-thirds of tenants in Hyderabad have expanded their rental budgets to adapt to the changing real estate landscape, with many desiring more spacious living arrangements. Additionally, the demand for standalone buildings has increased due to the shortage of gated communities.Read more

Prestige Group is embarking on a transformative venture in Hyderabad with Prestige City Hyderabad, a sprawling 64-acre mixed-use township. This ambitious project, requiring a substantial investment of Rs 5,000 crore, promises to reshape the city's urban landscape. Set for completion in four years, it anticipates a remarkable gross development value of Rs 8,000 crore. Featuring a diverse range of residential units, including villas and a massive retail mall, this development aims to cater to a wide spectrum of residents and stimulate economic growth in the region. Prestige Group's track record of excellence adds credibility to this visionary undertaking.Read more

Aparna Constructions and Estates Private Limited, a leading real estate developer in South India, has launched Aparna Synergy, a luxurious gated community in Hyderabad. The community spans 27.5 acres and offers 3345 high-end apartments with 2, 2.5, and 3-BHK layouts. Situated in Gandi Maisamma, the project combines natural landscapes with modern living spaces and offers exceptional connectivity to key areas of Hyderabad. The project features 24-hour power backup, security, water supply, and a range of amenities. Aparna Constructions' commitment to quality, sustainability, and customer satisfaction is reflected in this project, addressing the demand for upscale residential properties in Hyderabad.Read more

Metamor Software Solutions directors, Meghna Dilip Bhanushali and Tummala Vipul Reddy, have acquired a property in Hyderabad's Jubilee Hills for Rs 48 crore, marking one of the city's recent high-value residential transactions. The property, spanning 13,000 sq ft with a built-up area of 3,951 sq ft, was purchased from Manoj Kumar Tibrewala. This purchase was driven by both family and business requirements, as evidenced by the sale deed. The real estate market in Hyderabad has been witnessing a surge in significant land and mansion deals, largely from business figures and film actors.Read more

Real estate firm Casagrand has made a notable land acquisition in Hyderabad, securing over 4 lakh square feet of land valued at approximately Rs 57 crore. This move reflects Casagrand's strategic expansion in the thriving Hyderabad real estate market, highlighting their confidence in the city's growth potential. With Hyderabad's mix of tradition and modernity, booming technology and business sectors, and diverse cultural scene, it has become a hotspot for real estate investment. This move by Casagrand aligns with the trend of companies capitalizing on Hyderabad's economic growth and urban development.Read more

Global alternative investment firm Varde Partners has reportedly provided around Rs 750 crore in mezzanine debt to Hyderabad's Phoenix Group for construction purposes. The funds are intended for a project where the developer is converting a special economic zone (SEZ) project into a non-SEZ venture. Due to changes in project scope, traditional bank lending was not possible, leading Phoenix Group to seek private lending from Varde Partners. Despite the relatively high interest rates associated with Varde Partners' loans, the move is seen as strategic given the current market conditions. Varde Partners has shown consistent interest in India's real estate market and has invested over $3 billion across 20 transactions in the country over the last four years.Read more

The Hyderabad Metropolitan Development Authority (HMDA) recently conducted an auction of vacant plots in the city, but the response was lacklustre. Out of the 26 plots put up for auction, only nine were successfully sold, contributing 120 crore rupees to the state government's revenue. HMDA officials explained that these unsold plots had various challenges like small size, vaastu concerns, and their proximity to other properties. The plots were located in areas such as Kokapet, Nallagandla, Manchirevula, and others across different districts. The auction revenue fell short of expectations, highlighting the complexities of property sales and local factors affecting demand and pricing.Read more

Encalm Hospitality, known for creating peaceful spots at airports, is embarking on a new venture by entering the hotel industry. Their first hotel, located at Hyderabad airport, will feature 58 rooms. Moreover, Encalm Hospitality has plans to construct another hotel at Goa's Manohar International Airport. Their ambitious vision involves establishing 21 relaxing lounges at airports and managing three hotels by 2025, aligning with India's airport expansion plans. Encalm's move stems from the observation that modern travellers desire comfortable spaces during their airport experience. This leap from airport spots to hotel construction signifies a significant evolution in their business strategy, promising exciting developments for the future.Read more

L&T Metro Rail (Hyderabad) gains approval for the proposed slump sale of Raidurg business operations to Rafferty Developments. This strategic move aims to optimize leased land assets, minimize debt burdens, and embrace financial recalibration. The decision, contingent on transaction fulfilment and approvals, emerged from a pivotal meeting. L&T Metro's plan to lease 15 acres for over Rs 1,200 crore marks a significant alliance with Brookfield Corporation and K Raheja Corp. Ltd. The transformative step reflects prudent financial strategies with a vision to bolster commercial vibrancy through IT office towers and a mall on the land parcel.Read more

Capgemini Technology Services India, a prominent European tech player's local unit, has extended its lease for over 300,000 sq ft of office space in Hyderabad's Kokapet. The lease covers two assets, secured from GAR & Sons builders, spanning 60 months in two deals with 15% escalation, detailed in a Propstack document. Rent amounts to Rs 34 and Rs 41 per sq ft across the two properties, with a 15% increase after 36 months. Capgemini, with around 180,000 employees in 13 Indian cities, considers India a prime innovation hub.Read more

The Neopolis project in Kokapet, Hyderabad, conducted land auctions for seven land parcels of 45 acres in Phase 2. The auction witnessed a high bid of Rs. 100.75 crore per acre for a 3.6-acre plot (No.10), making it the highest bid in the history of Hyderabad's real estate. The bid was placed by Rajapushpa Properties Pvt Ltd, and the overall collection in the auctions reached an impressive Rs. 3,319 crore, surpassing the state government's expectations of Rs. 2,000 crore.Read more

Sify Technologies leases 1.5 lakh sq. ft of office space in Hyderabad's financial district through its subsidiary, Sify Infinit Spaces. The lease spans 60 months, bolstering their presence. Rent will escalate by 3 percent annually. Sify's focus on expanding data centre capacity aligns with India Inc.'s digitization and AI trends. A strategic partnership with Kotak Data Centre Fund for Rs 600 crore enhances growth prospects. Sify aims to add 350 MW of capacity in four years. Their dynamic approach and unwavering vision position them as trailblazers in India's ICT landscape, championing innovation and transforming the digital future.Read more

In an astonishing development, Hyderabad's luxury housing market has witnessed a remarkable 14-fold increase in sales in the first half of 2023, according to CBRE South Asia's latest report. The surge, driven by enhanced amenities, spacious living preferences, and rising NRI investments, cements Hyderabad, Delhi-NCR, and Mumbai as robust luxury housing markets, accounting for nearly 90% of sales across India's top seven cities. The trend reflects a shifting preference towards opulent living, signaling a thriving demand for luxury properties in India and propelling the real estate sector on an upward trajectory.Read more

HMDA shifts focus to middle and upper-middle-class sections in Hyderabad, initiating an auction of 50 plots in Mokila village. The layout promises comprehensive infrastructure development, with bids exceeding Rs 25,000 per square yard. The pre-bid meeting garnered significant interest, and HMDA anticipates a positive response from potential homeowners. The strategic location near Shankarpally Road, Neopolis, and Financial District adds appeal to the project. With connectivity to ORR and proximity to educational institutions and recreational spots, HMDA aims to redefine urban living, providing diverse housing options for a vibrant community in Hyderabad's evolving landscape.Read more

The GHMC has utilized the TDR scheme ingeniously, acquiring 1,923 properties for infrastructure projects. Through TDR certificates, property owners gain the right to construct additional built-up areas and can sell the certificates. GHMC's strategic use of TDRs saved Rs 4,832 crore in land compensation, streamlining urban development. TDRs were allocated to road widening, missing link roads, lake beautification, and more. While GHMC succeeded, other municipalities face challenges in adopting TDRs. GHMC's visionary approach sets a compelling example of transformative urban development.Read more