rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Telangana, Andhra are next big realty investment destinations

Telangana, Andhra are next big realty investment destinations

June 02, 2014 10:22 IST

Telangana, Andhra are next big realty investment destinations

     Next

Next
N Madhav

The property market in bifurcated Andhra Pradesh is likely to forge ahead, owing to pro-industry policies and a grassroots-level economic agenda.  

While most realty players agree the leadership in Telangana will harness the most it can of the established information technology (IT) sector and the infrastructure here, many say the pro-business credentials of Chandrababu Naidu will be a shot in the arm for real estate in residual Andhra Pradesh.

Click NEXT to read more...


Image: To keep investor interest strong in Hyderabad, the government in Telangana has to come up with a pro-active agenda, just like those of previous chief ministers.
Photographs: Reuters

     Next

Telangana, Andhra are next big realty investment destinations

Prev     Next
Prev

Next

Even as most developers consider Hyderabad a key market, next only to Bangalore and Chennai in the south, they expect many tier-II and tier-III regions, in both residual Andhra and Telangana to catch up. 

Though the Telangana Rashtra Samithi (TRS) manifesto wasn't flamboyant on the party's agenda for the services sector, it is expected the leadership will primarily rely on this segment to boost jobs and living standards.

Click NEXT to read more...


Image: The property market in bifurcated Andhra Pradesh is likely to forge ahead.
Photographs: Reuters

Prev     Next

Telangana, Andhra are next big realty investment destinations

Prev     Next
Prev

Next

Trivita Roy, assistant vice-president, Jones Lang LaSalle, Hyderabad said, "To keep investor interest strong in Hyderabad, the government in Telangana has to come up with a pro-active agenda, just like those of previous chief ministers.  

Keeping the focus on the services sector intact, the government here can also try to unlock the potential of the manufacturing sector to create new jobs and keep the investment sentiment buoyant." Trivita Roy, assistant vice-president, Jones Lang LaSalle, Hyderabad.

Click NEXT to read more...


Image: Keeping the focus on the services sector intact, the Telangana government can also try to unlock the potential of the manufacturing sector.
Photographs: Reuters

Prev     Next

Telangana, Andhra are next big realty investment destinations

Prev     Next
Prev

Next

She added Naidu's earlier record in drawing IT giants such as Microsoft, Cognizant, Tata Consultancy Services and Infosys to Hyderabad, coupled with the rapport he shared with Prime Minister Narendra Modi and other Bharatiya Janata Party seniors, was considered a positive by many domestic and foreign investors.  

In united Andhra Pradesh, Hyderabad was the single-largest investment destination. But after the state is bifurcated, new avenues, including the fringe regions of Medak, Nalgonda and Warangal in Telangana; and Visakhapatnam, Guntur, Vijayawada, Kakinada, Rajahmundry, Tirupati, Nellore and Ongole in residual Andhra, have turned attractive for property investment.

Click NEXT to read more...


Image: Presence of IT giants such as Microsoft, Cognizant, Tata Consultancy Services and Infosys in Hyderabad makes it an attractive investment destination.
Photographs: Sherwin Crasto/Reuters

Prev     Next

Telangana, Andhra are next big realty investment destinations

Prev     Next
Prev

Next

Jayashree Kurup, head of content and research at MagicBricks, a real estate portal said, "Even before the division, besides Hyderabad, Visakhapatnam and Vijayawada attracted active interest from buyers." 

Data compiled by MagicBricks show in the year ended April, per sq ft values across four key locations in Visakhapatnam rose 5-14 per cent; the prices stood at Rs 2,350-3,650/sq ft. Kurup said there was no sudden jump in end-user interest in other tier-II & tier-III locations.  

"It is too early to predict real estate growth based on the policies Naidu will propose in the new state," she added.

 

 

 

 

 

 

 

 

 

 

 

 

 

Click NEXT to read more...


Image: Even as most developers consider Hyderabad a key market, next only to Bangalore and Chennai in the south, they expect many tier-II and tier-III regions, in both residual Andhra and Telangana to catch up.
Photographs: Reuters
Tags:

Prev     Next

Telangana, Andhra are next big realty investment destinations

Prev     Next
Prev

Next

At its meeting with TRS chief K Chandrasekhar Rao, the Confederation of Real Estate Developers of India (Credai) stated the need to fast-track land clearances and suggested the government take full responsibility for setting up basic infrastructure in investment zones. "KCR (K Chandrasekhar Rao) reacted positively," said Credai president C Shekar Reddy.  

Credai considers the BJP's plan to carve out 100 new cities a major boost to the country's realty sector. 

Click NEXT to read more...


Image: Credai considers the BJP's plan to carve out 100 new cities a major boost to the country's realty sector.
Photographs: Punit Paranjpe/Reuters

Prev     Next

Telangana, Andhra are next big realty investment destinations

Prev     More
Prev

More

This might result in a rise in land prices across tier-II and tier-III locations. Besides, an affordable housing scheme, part of the TRS election manifesto, will have a positive spill-over on other sectors.  

Meanwhile, rumours that the capital for residual Andhra might come up near Guntur-Vijayawada have sent land prices soaring in this region; the prices are being quoted at 100-150 per cent more than a year earlier.  

"Active interest will take another six-nine months, as consumers expect prices to rise only six months after the elections," says Sudhir Pai, business head, MagicBricks.

Click NEXT to read more...


Image: Property prices in tier-II cities is likely to increase.
Photographs: Reuters

Prev     More
Source: