Monthly Real Estate Monitor Hyderabad January 2013

By JLL India

Residential projects..!

 Hyderabad continued to witness increased launches of residential projects in December, 2012 amidst improved sales of residential units.

The key launch in the month was Aparna CyberZon in Nallagandla by Aparna Constructions. Aparna Cyber Zon was of good interest amongst buyers in the prelaunch stage itself.

In addition, there was launch of Neclace Pride by Salarpuria Sattva Group on Kavadiguda Main Road. Some of them were Jyothi Vistas, Jyothi Lotus and Jyothi Anri. NSL Sindhu by NSL Homes was launched on the Medchal Highway.

Meanwhile, Isola was launched by Giridhari

Residential	Rents	Capital Value
Key Areas	Rs. per month for a 1,000 sq ft 2 BHK Flat	Rs. per sq ft
Banjara Hills	15,000 to 20,000	5,500 to 10,000
Begumpet	12,000 to 16,000	3,700 to 5,000
Kondapur	12,000 to 16,000	2,800 to 4,500
Tellapur	8,000 to 12,000	2,800 to 3,500
Kukatpally	7,000 to 10,000	3,500 to 3,800
Miyapur	5,000 to 6,000	2,200 to 3,500

Office demand..!

Office demand improved in December, 2012. However, the supply constraint of special economic zone (SEZ) spaces continued to remain in the city.

Interestingly, Gachibowli witnessed an improved pre-leasing activity over the month as Amazon expanded into Jayabheri Orange Towers. Vacancy increased in Hyderabad Information Technology Engineering Consultancy (HITEC) City submarkets as few companies consolidated their operations.

However, pre-leasing remained strong in HITEC City as Oracle pre-leased space in Salarpuria Cyber Park. Other major leases in December were UHG pre-leasing space in Phoenix Infocity Avance SEZ in HITEC City and Questdial renting space at Ashoka Raghupati Chambers in Begumpet CBD. KRC Mindspace Building 20 (SEZ) in HITEC City started operations in December, 2012.

This building was fully occupied, with Cognizant Technology Solutions as its major tenant. Rents and capital values remained stable over the December month.

Office	Rents	Capital Value
Key Locations	Rs. per sq ft per month	Rs. per sq ft
Begumpet	45 to 55	4,500 to 6,500
Banjara Hills	50 to 60	4,500 to 7,500
Hitec City	34 to 42	4,000 to 5,200
Gachibowli	34 to 38	4,000 to 5,000
Uppal	25 to 35	3,000 to 4,000
Shamshabad	20 to 25	3,000 to 4,000

Retail Demand..!

Demand continued to focus on the high streets of Hyderabad, with retailers such as Neeru's and Nissan leasing space on Road 36 Jubilee Hills, and Karachi Bakery taking space in Madhapur.

Fashion boutique stores also leased spaces in prime high streets of the city, with Shantanu and Nikhil leasing space on Road 36 Jubilee Hills in December, after designers such as Ritu Kumar, Tarun Tahiliani and Sabyasachi started their fashion boutique stores in Hyderabad.

Vacancy in malls remained stable, whilst high streets continued to see fast absorption. Rents and capital values remained stable over the month.

Retail	Rents	Capital Value
Key Areas	Rs. per sq. ft per month	Rs. per sq ft
Banjara Hills	100 to 130	10,000 to 13,000
Jubilee Hills	110 to 140	11,000 to 14,000
Secunderabad	80 to 100	8,000 to 10,000
Hitec City	100 to 130	10,000 to 13,000
Kukatpally	100 to 120	10,000 to 12,000
Dilshuknagar	100 to 120	10,000 to 12,000

 INFRASTRUCTURE ONGOING ..!

 The first girder and the launcher of the Hyderabad Metro Rail Project commissioned on Corridor 3 between Uppal and Habsiguda in end of November, 2012.

For more information about our research

Ashutosh Limaye

Head, Research and REIS

ashutosh.limaye@ap.jll.com

+91 98211 07054

Trivita Roy

Assistant Vice President, Research

trivita.roy@ap.jll.com

+91 40 4040 9100

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For further information, please visit www.joneslanglasalle.co.in

For more information about research

Ashutosh Limaye

Head, Research and REIS

ashutosh.limaye@ap.jll.com

+91 98211 07054

Trivita Roy

Assistant Vice President, Research

trivita.roy@ap.jll.com

+91 40 4040 9100

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