A slowing economy coupled with a sluggish trend in information technology (IT) on one side and booming demand from the domestic housing segment on the other have resulted in a mixed trend for the real estate business in the 400 year-old city of Hyderabad.
Growth-wise, this has been the only sector with a consistent double digit growth rate. Any habitation beyond 30 km from the city has lost its appeal with a flurry of housing activity taking place at Madhapur, Jubilee Hills, Banjara Hills, Ameerpet, Begumpet, Kundanbagh, Mamidipalli (hardware park), Shamshabad (international airport), Pocharam (Singapore township), Medchal etc.
The setting up of hardware park at Mamidipalli village, 30 km away from the city, has brought speculative demand to this area.
Because of its proximity, Medchal area has been a primary choice of realtors for quite sometime.
With the laying of a four-lane highway passing through Medchal has resulted in a spurt in land values.
Another village Pocharam, located on Hyderabad-Warangal highway, not known to many till recently, has become a centre of attraction.
The Singapore township project, a joint venture between AP Housing Board (APHB) and a Singapore government body, is coming up there. Builders feel that government should relax certain rules like floor space index (FSI) ratio.