Hyderabad 'Realty' boom ranked last

August 26, 2014 10:50
Hyderabad 'Realty' boom ranked last

Global real estate consultant Cushman and Wakefield on Monday revealed the Hyderabad real estate segment witness lowest capital value appreciation of 14 per cent in the mid segment and 16 per cent in the high-end mid segment. The report also said Hyderabad is ranked last among the top seven cities in terms of capital value appreciation, primarily due to subdued demand for residential units given the political uncertainty in the state during the last few years.

However, considering that this uncertainty has now been cleared with the formation of two separate states, the overall city outlook remains positive, said the report. The capital value appreciation was attributed to demand from IT and IT related professionals and also development of physical and social infrastructure in the city.

On the contrary, the overall real estate business in Hyderabad hit rock bottom but the Confederation of Real Estate Developers' Associations of India (Credai) opined this uncertainty will not long and in next five to six months of period, Hyderabad real estate business is likely to improve.

(AW: Vamshi)

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