Hyderabad Authority investing Big Money in Expressways...
The Hyderabad Urban Development Authority (Huda) is investing about Rs 6,000 crore for an eight-lane access-controlled expressway. Part of the Outer Ring Road (ORR) project, it would be taken up in three phases, said Huda vice-chairman KS Jawahar Reddy.

In the first phase, a 24-km road would be laid from Gachibowli to Shamshabad, which is scheduled to be completed by February next year. In the second phase, a road from Shamshabad to Pedda Amberpet in one stretch and from Narsingi to Patencheru in another, in all 60 km, would be laid at an estimated cost of over Rs 2,440 crore.
Five agencies are working on this project on a build, operate and transfer basis. This is likely to be ready by 2010. The third phase would see laying of a 70-km road connecting Patencheru and Pedda Amberpert. The government would take financial assistance from the Japan Bank for International Cooperation (JBIC) and would soon call for tenders for the project.

Speaking at a seminar on ‘Real estate sector: Opportunities and challenges in Andhra Pradesh’ organized by the Confederation of Indian Industry (CII)’s Andhra Pradesh chapter, he said 33 radial roads would also be laid at a cost of Rs 3,000-4,000 crore for better connectivity to the city. Work on four radial roads has already begun.

Real Estate Prices Rise in Tier II and Tier III Cities
As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run.
The property market is not going to see a slide in price in the near future, says data showcased by various property surveys.

Tier II cities including Jaipur, Kochi, Pune, Nagpur, and Chandigarh have become common hunting ground for ITes companies, reveals a study conducted by recent Nasscom-KPMG.

Hyderabad real estate prices soar as land auction fetches Rs. 700 crore
The Hyderabad Urban Development Authority (HUDA) has realised Rs. 703 crore from the sale of 69 acres of land in the town of Kokapet, 20km from the city. The 15 plots sold in the Golden Mile layout are in a good location next to the Outer Ring road and close to the Financial district and IT hub in Gacchibowli.

HUDA will retain part of the sale proceeds towards its objective of mobilising significant funds for the development of the Outer Ring Road.

While HUDA had set a minimum price of Rs. 4.5 crore per acre, the average price from the auction was Rs.10 crore per acre with the highest being Rs. 14.45 crore per acre for a 5 acre parcel (bought by Hyderabad based Kailash Ganga Constructions). 47 bidders including builders, IT firms, and hoteliers participated in the auction. This included reputed names such as Prestige Gardens from Bangalore, New Delhi based Today Group Hotels, My Home Constructions & Madhucon Properties from Hyderabad, Lake Point Builders, Mumbai, IBC Knowledge Park amongst others. Successful bidders plan to set up residential facilities, commercial complexes including retail & office space, as well as hotels on the acquired land.

Hyderabad, like most major Indian cities, is experiencing a construction boom driven by the fast growing IT sector, development of infrastructure projects such as airports, SEZs, IT Parks, as well as an ever present demand for residential housing. With a lot of money chasing scarce land, prices are soaring.

HUDA plans to auction another 30 acres of land on July 24 including two premium plots near Hitec City each measuring two acres.

Destination Hyderabad - The Deccan Queen is next on the hot real estate
Would you believe that over two thousand bankers and financiers in Asia would meet in Hyderabad. And that they would be part of a convention that was conducted smoothly with world-class facilities. You'd better believe it. The Asian Development Bank concluded its convention at the Hyderabad International Convention Centre (HICC), India's most modern yet.

Promoted by the Cyberabad Convention Centre (P) Ltd, a joint venture company comprising the Dubai-based EMAAR group, and Andhra Pradesh Industrial Infrastructure Corporation, a public sector undertaking, HICC is run in association with Australia's Accor chain. According to Philip Logan, General Manager HICC, the Centre was conceived to offer everything needed for a successful, world-class event whether a conference for thousands of delegates, a seminar or a small meeting. And here's a capacity that will take your breath away -  HICC has provided for banqueting requirements - they can cater a sit down dinner for 10,000 guests.

Another sign pointing to Hyderabad being the next hot business destination is the new international airport at Shamsabad with a phase one capacity of ten million passengers scheduled to be in operation within the first half of 2008.That's not even the half of it. In phase two the airport will increase its capacity to 20 million passengers and in phase three the figure goes up to 40 million. Easy road and rail connections have also been planned with access roads to the National Highway and new rail links.

A rash of hotels are sure to be in the pipeline to cater to the business tourism boom. Several thousand more 4 and 5-star rooms are already in the pipeline with existing chains and new hospitality ventures coming up. It all adds up to Hyderabad joining the real estate band wagon with hot property deals to be made.