GACHIBOWLI

 

Gachibowli is the most lucrative and well-established zone in Hyderabad. It has maximum office supply absorption and maximum potential for capital appreciation and growth for investors with a 5-7 years investment horizon.

Today, it is home to the world’s leading IT giants including Microsoft, CA, IBM, Oracle, Capgemini and Infosys. It has also become a strategic point with the planning of a financial district spread across 140 acres. This area houses ICICI Bank’s landmark building, touted as the country’s largest captive office building. With the presence of UBS, Bank of America and Wells Fargo make Gachibowli the global finance back operations hub as well.

“Gachibowli, in turn, Hyderabad has been put on the global map because of the IT/ ITES companies operating out of this area. The IT/ITES corporates combined with better infrastructure excellent connectivity to the remaining parts of the city, express access to the airport, reputed schools in the vicinity, network of hospitals, entertainment zones has made this location a hot spot for investment,” says Pochendar Shenigarapu, CEO, Lanco Hills.

According to him, if the market continues to grow at the same rate as last year, which looks imminent, i t would fuel further growth prospects of Gachibowli and surroundings. With Gachibowli emerging as the commercial hub, the demand for residential properties nearby has shot up as people want to live near their offices. As a result some of the biggest and high-end residential projects have come up in this area such as Lanco, DLF, Manjeera, Aliens Group and Aparna.

In the commercial spaces, most companies are opting for the renting/ leasing model since these organizations are not operating on ownership model and the pricing in the market is between Rs. 25- 35/ sft. The current prices in the residential range between Rs. 3000 to Rs. 4000 sft depending on the kind of features and ambience the projects provide. “Gachibowli area will remain in high demand in the years to come. Many MNC IT companies like Oracle a re adding people and many more are expected to open offices in this area. In the next three years, the area will see a minimum 5-10 percent appreciation in commercial real estate,” says G Yoganand, chairman and MD of Manjeera Group.

Estimates suggest that the companies in Gachibowli employ about 1 lakh people and with new additions planned, residential property rates will follow the same upward trend. `People prefer to live near their workplaces to avoid commuting time. They want to retain a certain quality of life. Considering that most people working in these companies are youngsters with good earning potential demand for quality residential property will go up,” he says.

In fact, the growth of Gachibowli has also lead to the development of nearby areas like Appa Junction, Tellapur and Manikonda. It is also well connected with other other areas by through an outer ring road. `Gachibowli is almost getting saturated and now development is spreading outside. This makes these areas like Appa Junction a good investment for short term like 2-3 years,” says Anand Reddy, executive director, PBEL City.