As
thousands throng to live in property
in Hyderabad and to earn a living in the IT city, the lack of high
quality commercial space will lead higher leasing values for companies that
hope to have a presence in Hyderabad.
A Rising Demand For Commercial Space
The lack
of sufficient high quality commercial space at a time when some of the biggest
global companies are in a beeline to open offices in Hyderabad is not great
news for the concerned authorities. Top Builders
in Hyderabad with the initiative could profit from this
situation either by building the required high quality commercial space or by
charging more for existing spaces they own.
It is
already well known that the demand for new commercial property in Hyderabad
exceeds the demand for such property in Mumbai. Vacant office space in
Hyderabad is less freely available than such space is in cities such as Delhi,
Chennai, Mumbai, and Kolkata. This leads one to the conclusion that the demand
and supply of office space in Hyderabad is better matched than demand for
office space is in most other large Indian cities.
The Most In Demand Regions
In prime
regions of Hyderabad such as Hi-Tech city, vacancy levels are no lower than 5
to 5½ percent. This indicates that whereas regions of India such as Gurgaon and
Mumbai have produced large swaths of commercial space that has few takers,
commercial property in Hyderabad
has a better and more balanced approach that more closely matches supply with
demand. Leasing values in regions such as Hi-Tech city have risen from 48
rupees per square foot as they had been a year ago to 60 rupees per square foot
today indicating an upsurge in demand for commercial property in Hyderabad.
What the Future Holds
Leasing
space is not likely to be aplenty until next year when several new projects
in Hyderabad are expected to be complete. Much of the space in the upcoming
projects in Hyderabad has already been pre-leased and will likely lead
to higher rental values once the upcoming projects are completed and leased
out.
Conclusion
Whether
by luck or planning, builders in
Hyderabad have the amount of leasing space in Hyderabad not too far in
excess of demand for such property in
Hyderabad.
Post By : Shrikant Sain
For more: propchill.com
Contact number: 7827456456
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