A monthly (2012, May) snapshot of what is happening in the Indian real estate market of 7 major cities By Jones Lang LaSalle (JLL) India
Hyderabad
The major cities are..!
1. Chennai
2. Bangalore
3. Hyderabad
4. Delhi
5. Kolkata
6. Mumbai
7 .Pune
Office Market..!
Demand remained stable with good leasing & preleasing activity. Vacancy rate decreased marginally as there was no new office space supply in the city.
A few key transactions in May include Callidus leasing SEZ space in Mindspace, AT and T leasing space at The V & JDA leasing space in Meenakshi Tech Park, all of which are located in the Hitec City sub-market.
Office | Rents | Capital Value |
Key Precincts | INR per sq ft per month | INR per sq ft |
Begumpet | 45-55 | 4,500-6,500 |
Banjara Hills | 50-60 | 4,500-7,500 |
Hitec City | 34-42 | 4,000-5,200 |
Gachibowli | 34-38 | 4,000-5,000 |
Uppal | 25-35 | 3,000-4,000 |
Shamshabad | 20-25 | 3,000-4,000 |
After a steep rise (over past 2 quarters) due to depletion of quality leasable space, rents and capital values remained stable across all sub-markets over the
month.
Retail Market..!
Retail demand remained stable in prime as well as sub-urban high streets of Hyderabad as there was limited mall space available for leasing. Upcoming
malls such as Prestige’s Forum Crystal, Manjeera Trinity & Manjeera Majestic continued to witness stable pre- leasing activity.
Retail | Rents | Capital Value |
Key Precincts | INR per sq ft per month | INR per sq ft |
Banjara Hills | 100-120 | 10,000-12,000 |
Jubilee Hills | 110-140 | 11,000-14,000 |
Secunderabad | 80-100 | 8,000-10,000 |
Hitec City | 100-120 | 10,000-12,000 |
Kukatpally | 80-100 | 8,000-10,000 |
Dilshuknagar | 60-80 | 6,000-8,000 |
Zamini pre-committed space in Manjeera Trinity Mall. Vacancy rates remained stable in existing malls. Overall mall rents remained unchanged across all sub-markets.
However, a few select good quality properties along prime high streets such as
Banjara Hills and Jubilee Hills continued to quote rents higher than the market average.
Residential Market..!
Residential sales picked up pace in select projects. But market sentiment continued to remain reserved. Major launches in May were Vasavi Bhuvana at Srinagar Colony & West Metro at Chandanagar.
Residential | Rents | Capital Value |
Key Precincts | INR per month for a 1,000 sq ft 2BHK apartment | INR per sq ft |
Banjara Hills | 13,000-20,000 | 5,500-10,000 |
Begumpet | 10,000-15,000 | 3,500-4,000 |
Kondapur | 10,000-15,000 | 2,800-4,500 |
Tellapur | 8,000-12,000 | 2,200-2,800 |
Kukatpally | 7,000-10,000 | 3,300-3,500 |
Miyapur | 5,000-6,000 | 1,800-3,300 |
Capital values of selected projects in prime locations increased due to good sales volume, but overall capital values remained stable due to moderate sales.
INFRASTRUCTURE ONGOING..!
- HMDA (Hyderabad Metropolitan Development Authority) approved an inter-city bus terminal at Miyapur.
- 71.6-km-long Hyderabad metro rail project is almost ready for implementation. The phase I of the project will cover 2 tracks - 8 kms between Nagole and Mettuguda & 12 kms between Miyapur and Ameerpet which are expected to be complete by end of 2014.
Src: Jones Lang LaSalle
About Jones Lang LaSalle..!
Jones Lang LaSalle is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of above USD 360 crore, Jones Lang LaSalle serves clients in 70 countries from above 1,000 locations worldwide, including 200 corporate offices.
The company is an industry leader in property & corporate facility management services, with a portfolio of approximately 180 crore square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest & most diverse in real estate with USD 4,790 crore of assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 20,800 employees operating in about 80 offices in 13 countries across the region. The company was named the Best Property Consultancy in Asia Pacific at ‘The Asia Pacific Property Awards 2011 in association with Bloomberg Television’. For further information, please visit website, www.ap.joneslanglasalle.com
About Jones Lang LaSalle India..!
Jones Lang LaSalle is India’s (JLL India) premier & largest professional services firm specializing in real estate. With an extensive geographic footprint across eleven cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh &Coimbatore) and a staff strength of over 4800, the company provides investors, developers, local corporate & MNCs (multinational companies) with a
comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, Industrial, capital markets, residential, hotels, health care, senior living, education &retail advisory. For further information, please visit
www.joneslanglasalle.co.in
For more information..!
Ashutosh Limaye
Head, Research and REIS
ashutosh.limaye@ap.jll.com
+91 98211 07054
Trivita Roy
Manager, Research
trivita.roy@ap.jll.com
+91 40 4040 9100
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