by : George Gonigal

Real estate at the peripheral locations of Hyderabad is likely to undergo a sea change with the recent formation of Greater Hyderabad Municipal Corporation (GHMC). At present, the urban density at peripheral areas such as Madhapur, Raidurga, Gachibowli, and Manikonda is growing at quite a staggering pace.

And that's why it's expected that after the formation of GHMC, these areas may be re-classified as suburban or prime suburban locations anytime now.

Besides the aforementioned locations, Shamshabad is also emerging up as an active real estate market in Hyderabad. The location is near to the site of International Airport that is expected to become operational in 2008.

Spotting the underlying business opportunities in this area, real estate developers have already launched large projects in and around. Undoubtedly, we cannot ignore role of IT and ITeS industry in the development of commercial properties in Hyderabad. K Raheja has launched an Information Technology Park in Shamshabad while Indu Projects have also launched IT Zone in the area.

Similar are the developments at Madhapur, which is home land for Hyderabad's famous HITEC City. This peripheral location is witnessing enormous interest from the technology giants from all across the world. Recently, global technology major CISCO hired some 17,000 sq. ft of space at Madhapur.

The supply side too, in this area, is in tandem with the demand curve. Infrastructure giant Larsen and Toubro (L&T) is engrossed in building HITEC II after success of HITEC City. Huge commercial real estate projects like Divyasree Omega and Divyasree Solitaire are also scheduled to be completed in the early half of year 2008.

As far as the state of infrastructure is concerned, GHMC has been entrusted with the task of managing and improving the same.

Overall, the outlook for commercial properties in Hyderabad and its peripheral areas is positive and both real estate agents and consultants expect live markets.

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