Read More About Hyderabad & it's Real Estate Property Market
Hyderabad is the capital city of the Southern Indian state of Telangana and de jure capital of Andhra Pradesh.
Historically known as a pearl and diamond trading centre, Hyderabad continues to be known as the City of Pearls.
It occupies an area of approx 625 square kilometres (241 sq mi) along the banks of the Musi River.
It has a population of about 6.8 million and a metropolitan population of approx 7.75mn, making it the fourth most populous city and sixth most populous urban agglomeration in India.
At an average altitude of 542 metres (1,778 ft), much of Hyderabad is situated on hilly terrain around artificial lakes, like its landmark Hussain Sagar.
The city was established in 1591 by Muhammad Quli Qutb Shah, and remained under the rule of the Qutb Shahi dynasty for nearly a century before the Mughals captured the region.
Hyderabad emerged as the foremost centre of culture in India with the decline of the Mughal Empire in the mid-19th century, with artists migrating to the city from the rest of the Indian subcontinent.
The influence of Mughlai culture is also evident in the city's distinctive cuisine, which includes Hyderabadi biryani and Hyderabadi haleem.
The city continued as the capital of Hyderabad State after it was brought into the Indian Union in 1948, and became the capital of Andhra Pradesh after the States Re-organisation Act, 1956.
In 2014, the newly formed state of Telangana split from Andhra Pradesh and the city became the joint capital of the two states, a temporary arrangement scheduled to end by 2025.
POPULAR TOURIST ATTRACTIONS:
The Charminar: As much the signature of Hyderabad as the Taj Mahal is of Agra or the Eiffel Tower is of Paris. Mohammed Quli Qutb Shah, the founder of Hyderabad, built Charminar in 1591. Four graceful minarets soar to a height of 48.7 m above the ground. Charminar has 45 prayer spaces and a mosque in it.
Mecca Masjid: Two hundred yards southwest of the Charminar is the Mecca Masjid, so named because the bricks were brought from Mecca to build the central arch. The Qutb Shahis never finished the building of the mosque, which was completed by Aurangzeb in 1694.
Laad Baazar: This is famous, colourful shopping centre of the old city, tucked away in one of the streets leading off from Charminar. Bridal wear, Pearls and the traditional Hyderabadi glass and stone studded bangles are sold here.
Golconda Fort: It is one of the famous forts of India. The name originates from the Telugu words "Golla Konda" meaning "Shepherd's Hill". The fort is famous for its acoustics, palaces, ingenious water supply system and the famous Fateh Rahben gun, one of the cannons used in the last siege of Golconda by Aurangzeb.
Qutb Shahi Tombs: The tombs of the legendary Qutb Shahi kings lie about a kilometre away from Banjara Darwaza of the Golconda Fort. Planned and built by the Qutb Shahis themselves, these tombs are said to be the oldest historical monuments in Hyderabad.
Taramati Baradari: This heritage monument is located at Ibrahimbagh, on the Osman Sagar (Gandipet) Road, close to Golconda. The complex is spread over a sprawling 7-acre area amidst lush green environs with the backdrop of the famed Golconda Fort.
Salar Jung Musuem: This museum houses one of the biggest one-man collections of antiques of the world by Mir Yousuf Ali Khan, Salar Jung III. The objects d'art includes Persian carpets, Moghal miniatures, Chinese porcelain, Japanese lacquerware, famous statues including the Veiled Rebecca and Marguerite and Mephistopheles.
AP State Archaeological Museum: A visit to the Andhra Pradesh State Archaeological Museum is a delight for art lovers. Located in the picturesque Public Gardens, the museum boasts of one of the richest repositories of antiques and art objects in the country.
Nehru Zoological Park: Spanning 300 lush green acres, the Nehru Zoological Park is a must for nature lovers. It has over 250 species of animals and birds, most of which are kept in conditions as close to their natural habitats as possible. This is the first zoo to create moated enclosures for animals.
Mir Alam Tank: Mir Alam Tank is a large lake adjacent to Nehru Zoological Park. AP Tourism operates boats on the lake, for which one has to enter through the Zoo.
Hitec City: One of the modern monuments of trade and technology, it embodies the newfound attitude of Hyderabad and today finds a place of pride. Situated on the outskirts of the city, it is the nucleus of Cyberabad, the IT destination in this part of the world.
As per the 2011 Census the population of Hyderabad was pegged at approx 6,809,970, 24 percent of which are migrants from other parts of the country.
Hyderabad ranks among the Top Five cities in India in terms of its population and the sixth most sixth most populous urban agglomeration in the country.
Hyderabad has a tropical wet and dry climate bordering on a hot semi-arid climate. The annual mean temperature is 26.6 °C (79.9 °F); monthly mean temperatures are 21–33 °C (70–91 °F).
The city has a sex ratio of 945 females per 1000 males, higher than the national average of 926 per 1000.
Among children aged 0–6 years, 373,794 are boys and 352,022 are girls—a ratio of 942 per 1000.
Literacy stands at 82.96% (male 85.96%; female 79.79%), higher than the national average of 74.04%.
The socio-economic strata consist of 20% upper class, 50% middle class and 30% working class.
Telugu is the official language of Hyderabad and Urdu is its second language.
Residents of Hyderabad are predominantly Telugu and Urdu speaking people, with minority Bengali, Gujarati (including Memon), Kannada (including Nawayathi), Malayalam, Marathi, Marwari, Oriya, Punjabi, Tamil and Uttar Pradeshi communities.
The Greater Hyderabad Municipal Corporation (GHMC) oversees the civic infrastructure of the city's 18 "circles", which together encompass 150 municipal wards.
The GHMC was formed in April 2007 by merging the Municipal Corporation of Hyderabad (MCH) with 12 municipalities of the Hyderabad.
Law and order in Hyderabad city is supervised by the governor of Telangana.
The jurisdiction is divided into two police commissionerates: Hyderabad and Cyberabad, which are again divided into four and five police zones respectively. Each zone is headed by a deputy commissioner.
JOBS & EMPLOYMENT OPPORTUNITIES:
Hyderabad was rated the largest contributor to the gross domestic product (GDP), tax and other revenues, of Telangana, and the sixth largest deposit centre and fourth largest credit centre nationwide, by the Reserve Bank of India (RBI) in June 2012.
Its US$74 billion GDP made it the fifth-largest contributor city to India's overall GDP in 2011–12.
The service industry remains dominant in the city, and 90% of the employed workforce is engaged in this sector.
Hyderabad's role in the pearl trade has given it the name – City of Pearls.
The city is home to Hyderabad Securities formerly known as Hyderabad Stock Exchange (HSE), and houses the regional office of the Securities and Exchange Board of India (SEBI).
The growth of the financial services sector has helped Hyderabad evolve from a traditional manufacturing city to a cosmopolitan industrial service centre.
Since the late nineties, the growth of IT, ITeS, insurance and financial institutions has expanded the service sector, and these primary economic activities have boosted the ancillary sectors of trade and commerce, transport, storage, communication, real estate and retail.
Hyderabad's commercial markets are divided into four sectors: central business districts, sub-central business centres, neighbourhood business centres and local business centres.
As of 2010, the city manufactured one third of India's bulk drugs and 16% of biotechnology products.
Hyderabad is a global centre of information technology, for which it is known as Cyberabad (Cyber City).
As of 2013, it contributed 15% of India's and 98% of Andhra Pradesh's exports in IT and ITeS sectors and 22% of NASSCOM's total membership are from the city.
The development of HITEC City, a township with extensive technological infrastructure, prompted multinational companies to establish facilities in Hyderabad.
The city is home to more than 1300 IT and ITES firms, including global conglomerates such as Microsoft (operating its largest R&D campus outside the US), Google, IBM, Yahoo!, Dell, Facebook, and Indian majors like Tech Mahindra, Infosys, Tata Consultancy Services (TCS) and Wipro.
In 2009 the World Bank Group ranked the city as the second best Indian city for doing business.
The city and its suburbs contain the highest number of special economic zones of any Indian city.
Other unorganised economic sectors include dairy, poultry farming, brick manufacturing and casual labour.
TRANSPORT & CONNECTIVITY:
Trains, buses and auto-rickshaws are the most popular modes of inter-city transport in Hyderabad.
The city's bus services ferry over 130mn passengers across the entire network.
Hyderabad's light rail transportation system, the Multi-Modal Transport System (MMTS), is a three line suburban rail service used by over 160,000 passengers daily.
Complementing these government services are minibus routes operated by Setwin (Society for Employment Promotion & Training in Twin Cities).
Intercity rail services also operate from Hyderabad; the main, and largest, station is Secunderabad Railway Station, which serves as Indian Railways' South Central Railway zone headquarters and a hub for both buses and MMTS light rail services connecting Secunderabad and Hyderabad.
Other major railway stations in Hyderabad are Hyderabad Deccan Station, Kachiguda Railway Station, Begumpet Railway Station, Malkajgiri Railway Station and Lingampally Railway Station.
The Hyderabad Metro, a new rapid transit system, is to be added to the existing public transport infrastructure and is scheduled to operate three lines.
As of 2012, there are over 3.5 million vehicles operating in the city, of which 74% are two-wheelers, 15% cars and 3% three-wheelers.
The remaining 8% include buses, goods vehicles and taxis.
The large number of vehicles coupled with relatively low road coverage—roads occupy only 9.5% of the total city area has led to widespread traffic congestion
The Inner Ring Road, the Outer Ring Road, the Hyderabad Elevated Expressway, the longest flyover in India, and various interchanges, overpasses and underpasses were built to ease the congestion.
Maximum speed limits within the city are 50 km/h (31 mph) for two-wheelers and cars, 35 km/h (22 mph) for auto rickshaws and 40 km/h (25 mph) for light commercial vehicles and buses.
Hyderabad sits at the junction of three National Highways linking it to six other states.
NH-7 runs 2,369 km from Varanasi, Uttar Pradesh, in the north to Kanyakumari, Tamil Nadu, in the south; NH-9, runs 841 km east-west between Machilipatnam, AP and Pune, and the 280 km NH-163 links Hyderabad to Bhopalpatnam, Chhattisgarh.
Five state highways, SH-1, SH-2, SH-4, SH-5 and SH-6, either start from, or pass through, Hyderabad.
Air traffic was previously handled via Begumpet Airport, but it was replaced by the newly-built Rajiv Gandhi International Airport (RGIA) in 2008.
RGIA has a capacity of handling 12 million passengers and 100,000 tonnes of cargo per annum.
In 2011, Airports Council International, an autonomous body representing the world's airports, judged RGIA the world's best airport in the 5–15 million passenger category and the world's fifth best airport for service quality.
Regardless of the political uncertainty in the state, investments into building the city's infrastructure have continued.
The infrastructure in Hyderabad is gaining impetus towards the development of highways in an integrated way.
A number of major infrastructure projects have contributed to improve Hyderabad's capacity to absorb investments.
Some of the key projects that have bolstered Hyderabad's infra network include:
The new state-of-the-art Rajiv Gandhi International Airport
The Narasimha Rao Expressway, an 11.6 km elevated Expressway connecting the Rajiv Gandhi International Airport to the city.
The Outer Ring Road, which is a 159 km ring road that connects Patancheru, Shamshabad, Hayathnagar and Medchal.
The ORR also provides connectivity to various state and national highways and the Rajiv Gandhi International Airport.
The Hyderabad Growth Corridor initiative plan to develop - well planned and well connected urban settlements - around the Outer Ring Road.
The 158 km long outer ring road connects the newly developed areas beyond Madhapur.
This is a joint venture of HMDA and Infrastructure Corporation of Andhra Pradesh (ICAP), both state agencies.
The Hyderabad Multi-modal Transport Service (MMTS): A city train service, associated with the South Central Railway (SCR), which has integrated ticketing with APSRTC. It presently runs 84 services a day, covering 27 stations.
The Hyderabad Metro Rail project: The first phase envisages a route length of 72 km covering three high density traffic corridors of the city.
REALTY MARKET OVERVIEW:
The city's property market which recently weathered a political storm with the bifurcation of the state is expected to see a revival over the next few quarters.
While the residential realty has not performed on expected levels, the market for commercial / office space continues to do well.
Hyderabad is expected to add 3-4 million square feet of office space this fiscal year, led by a strong demand from the IT and ITeS sector.
The first half of last year saw residential sales volumes in the city plunge by over 27 per cent to 7,300 units.
The city gets an influx of approx 15,000-20,000 residential units annually, which is around 20 per cent of the average for any metro.
The demand for homes here is led mostly by end-users looking for affordable properties.
Popular localities such as Gachibowli, Kondapur, Manikonda, Hitec City and Miyapur offer 3 and 4BHK villas options reasonably priced from INR 60 lakhs onwards.
The peripheral areas along the northern and eastern corridor are witnessing the development of value housing and budgeted villas.
APPA Junction, Narsingi and Kismatpur are emerging as alternate residential destinations along the western corridor.
The region surrounding the International airport at Shamshabad is witnessing plotted development projects. This market is predominantly being viewed as an investment destination
The region surrounding Nanakramguda is witnessing development in the higher mid-segment. Projects are in the price-band of INR 4,200 psf-INR 5,000 psf, depending on the location, builder and specifications.
Hyderabad witnessed an 18 per cent drop in sales in the second half of 2014 and new project launches have fallen by 38 per cent in the city.
Even though the city witnessed a marginal rise in prices (around 5 percent), there were 35,183 unsold units in Hyderabad.
However industry experts expect a demand revival from the second half of 2015.
The average cost of residential property in Hyderabad currently stands between INR 3, 500 -4,000 psf.
The rental values for office space in the western part of the city, the most sought-after area by large companies and IT majors is approx INR 40-60 psf.