New IT Space in Hyderabad.

Google Omega Kondapur

I think this is the most beautiful build in Hyderabad, built by DivyaSree. This photo is not of good quality. If you wanna see you can visit Kondapur to have a look, construction is completed.

Divyasree UBS Campus



DivyaSree Orion




DLF IT Park work in progress...
Seating capacity between 20k to 25K professional!!

Buying a house in Hyderabad.

A comprehensive list of big residential projects going on in Hitech City area in Hyderabad.

This post is to help home buyers to make right decision when buying a house in Hyderabad.
Users can see, compare and evaluate buying options. This is not an advertisement nor it is a recommendation.

Before buying an apartment you may be in dilemma whether to buy or wait for prices to cool off.
Here are few points to consider.

Case for prices falling:
Right now profit margins that builders are having is over 150% in many areas (See cost analysis at bottom). So there is a huge scope for correction.
In Hyderabad as of Q1 2008, shortage in residential space is coming down with new projects getting announced with every passing day. So chances of property prices coming off is very high.
So there is a general feeling of property prices cooling off in the city with policy reforms and sensible property builders entering Hyderabad.

If you are a speculator in realty or an investor then it's not the right time to enter.

Case for prices holding or going up:
More and more retail and commercial space is getting added in and around Gachibowli.
More and more professionals are coming to Hyderabad. NRIs returning back to India is also a growing trend. All above may keep up the demand and may out pace the supply resulting in property prices.

However, my prediction is that prices will either fall or at best hold where they are. So I feel safe to hold on for a few months or an year.

Here's the list of Residential projects in and around Hitech City. Over 15000 apartments to choose from.

Newly added properties:


Sree Swati
http://www.sreeswati.com/


Highlights:

Inaugural Launching Offer: Duplex Home 2 BHK 1100 Sft @ Rs.25 lakhs Duplex Home 3 BHK 1400 Sft @ Rs.30 lakhs Duplex Home 3 BHK 2000 Sft @ Rs.40 lakhs Apartment 2 BHK 850 Sft @ Rs. 15 lakhs (Inclusive of Car Parking & Amenities) Apartment 2 BHK 650 Sft @ Rs. 11 lakhs (Inclusive of Car Parking & Amenities)

Comments: Location is in Shankarpalli, far away beyond Tellapur. But I take this project as first signs and triggers toward price corrections. Though apartments are not in deluxe segment but it surely is a step towards affordable housing.



SHL Ventures
http://www.shgroup.in/
Casa Rouge - Kondapur - Around 200 Apartments.

Price: Rs 5500/SFT Phew!

Comment: I have no idea what's going in the mind of this builder to come up with that price. Apartments layout look congested and outdated, they have a look of budget apartments.
Maybe builder is counting on location, but let me warn readers that the road beside E-Park is can't support more than 2 cars and is a lot muddy. I give this apartment both thumbs down both for price and quality.
Also, this builder has hatcheries business and it's his first realty project, so don't expect anything great in terms of build quality. I am sorry for being so biased against this project and builder.



Properties in Hyderabad (Hitech City Area)
1. Lanco Group
http://www.lancohills.com/
Over 1000 apartment units. Luxury and super luxury.
Tall tower you see below is Signature Tower. As per my latest information it is yet to get approval.
Price: 4750 Rs/SFT (Preferential facing 100+; From 6th floor onwards 30 Rs/per floor up)
Apartment starting from appro Rs 9600000

Status: ( 14-04-08) RCC structure reached 3rd floor. Pics and status available on http://www.lancohills.com/



2. Aparna Constructions:
http://www.aparnaconstructions.com/
Aparna Sarovar: 1200+ units. Luxury apartments

Price: 3890/SFT
Apartment starting from Rs 70 Lakhs

(As per some report, in an event organized for Oracle they offered apartments for Rs 3000/SFT.) One of my friend from Oracle informed me that his colleague got a price of Rs 2600/SFT. See bottom of the list for apartment cost analysis.

Status: Construction is in full swing. RCC structure reached at least till floor 6. Status is not available on their website as of 23-04-2008.


3. Nagarjuna Constructions:
http://nccurban.com/
Nagarjuna Residency: 400+ luxury apartments.
Price: 4000 Rs/SFT
Apartment starting from Rs 80 Lakhs

4. Aliens Group
http://www.aliensgroup.in
Aliens elite: 350+ units
Aliens Space Station One: 1200+ luxury apartments.

Price: 3500 Rs/SFT
Apartment starting from Rs 40 Lakhs

Status: Excavation has started (Expected possession in Dec 2010). Builder will pay Pre-EMI till we get the possession. Cool!
Their sales department said they got all the approvals.

5. Ramky Construction Group
http://www.ramkyestates.com/
Ramky towers: 450+ unit
Price: 3800 Rs/SFT
Apartment starting from Rs 80 Lakhs

6. Meenakshi Group
http://meenakshigroup.net/
Sky lounge: 432 luxurious apartments.
Trident Towers: Ultra Luxury apartments
Price: 4400/SFT

Status (Sky Lounge): A huge pit is dug for the basement as on 23-04-2008.

Alert: As per Exclusive ventures a public notice is issued against this project
http://www.exclventures.com/newslink-346.asp

7. Indu Group
http://www.induprojects.com/
500+ apartments
Price: 4000 Rs/SFT


8. Aditya Construction Company
http://www.adityaindiarealty.com/
Many gated community projects, Villas, Independent houses.

9. Amsri
http://www.amsri.com/
More than 3 projects in and around Hitech City.

10. Sri Sairam Group
http://www.srisairamgroup.com/
Sri Sairam Towers: 578 Luxury Apartments.

11. SMR Builders
http://www.smrbuilders.com

12. Emaar MGF
No update yet on their website. As per some reports they have started booking for Premium apartments facing Golf course in prime land at Gachibowli. As per reports base price set is Rs 6700/SFT!


13. Sri Sreenivas Constructions
http://www.srisreenivasa.com/
Fortune towers: 200+ Luxury apartments
Fortune Nest: 64 Apartments

14. Legend
http://www.legendindia.co.in/serilingampalli.html
Close to 1000 apartments at Gachibowli.
Price: 4000/SFT
Status(23-04-2008): Land leveling and other works in progress.

15. Narne Homes
http://narnehomes.com/
Narne Elite (Is now Jain Housing's Carlton Creek): 756 Luxury Apartments

Price: They did not start booking as they are yet to get approvals. Though they gave expected price to be in between Rs 3500/- to 3800/- per SFT.

16. LT Infocity
http://www.ltinfocity.com/residential/

Status(24-04-2008): Few towers are already occupied, few are under construction.

17. IVR Prime
http://www.ivrprime.com/
Price: 4000 Rs/SFT
Status: Construction completed.

18. Dhatri
http://www.dhatriconstructions.com/v2/index.html
Cygne: Approx 1000 Apartments
Impero: Approx 2000 Apartments
Valley View: 55 Apartments

19. L&T Phoenix
http://www.phoenixindia.net/Projects.html
L&T Intellicity: 400 Luxury apartments overlooking Emaar Golf club.

20. Aditya Homes
http://www.adityahomes.com/
Multiple projects around hitech city.

21. My Home (Builders of Home Navdweepa)
http://www.myhomeconstructions.com/
My Home Jewel: 500 Apartments

22. Sri Sai Ram Group
http://www.srisairamgroup.com/public_html/current-project.html
SriSaiRam Towers: 300+ apartments

23. Manjeera
http://www.manjeera.com/index.html
Diamond Towers: Approx. 900 Apartments. (Added to list as suggested)
Price: Rs 3400/- Per SFT.

These are not the only properties in Hitech City area. I may have missed many of them. I shall regularly find and add more...

Cost analysis:
When you buy an apartment builder sells you USL (Undivided Share of Land) and undertakes construction agreement.

For a project like, Aparna Sarovar you get roughly 40 yards of USL. Cost of land in Nalagandla is less than 20K per Sq Yard (Around 10 Crore per acre).
So land cost comes to 8 Lakhs.
Construction cost for apartment is roughly 1600/SFT.
Construction Cost of 1800 SFT apartment would be 29,00,000.

Total cost: 8 + 29 = 37 Lakhs. In advertisements Aparna has quoted 70 Lakhs for this apartment.
Remember builder has not brought the land for 10 Crore Per acre but at much lower rates.

Construction cost 1600/SFT includes recent cement and steel price rise.

3 years ago I brought apartment in Kondapur for 900/SFT including false ceiling, 5'/5' large marble flooring, generator backup, french window etc. 900 includes every thing land cost, construction cost, contractors profit, builders margin everything!

Cost of land in Hitech city is between 40k to 60k per Sq Yard (20 to 30 Crore per acre!).


I intend to put up current prices for all properties soon. Going to cover Miyapur and Kukatpalli area soon... (which includes Vertex, Maytas, Cecon etc...)

Keep checking this space for updates...

That's Hyderabad Real Estate for you.