An Overview On Hi Tech City And Why It Is A Favored Property Destination
With the growth in the IT sector real estate market I Hyderabad has witnessed major changes in the last few years. After the Telangana issue has been resolved the property prices have reached stability.
If you want to invest in Hi Tech City in Hyderabad now is the right time. Hi tech City was set up in 1990s during the Telugu Desam regime. This IT hub is a home to major tech giants in the world which include IBM, Microsoft, Oracle and GE. Leading Indian IT firms too have set up their base in the Hi Tech city which includes big names like Wipro, Infosys and TCS.
This has led to eth creation of Cyberabad which is how Hi Tech city is popularly known. It has been estimated that one IT job creates 4 other jobs. With the increase in employment opportunities there is a growing demand for residential and office spaces. Professionals working in the IT sector comprise of 2.5 lakh of the total population in the city. Hi Tech city has witnessed a strong potential for growth in the real estate sector. After 2006 real estate prices in Hi tech City witnessed a boom. Although the demand for spate statehood did affect the property prices, now it is the right time to invest.
Major requirements of working population
After 2006 several companies set up their units in this region. With the growth in commercial hubs in and around the region property prices witnessed an upsurge. The arrival of new companies triggered the demand for real estate. Working professionals are always on the lookout for residential units which are located close to their working spaces. This saves travel time and commuting is more convenient. With introduction of the metro realtors predict that property prices will shoot up. On the whole real estate market in Hyderabad has been showing a positive trend.
Investing in office space
If you want high returns from investment you can consider investing in this IT hub. With growth of the IT sector age of home buyers has come down to 25 to 30 years. Hi tech city is a state of art information Technology Park which generates large employment opportunities. It spreads over 151 acres including swanky office space and offers world-class infrastructure. 50% of the construction is on built up space while another 50% is as independent campus. Fats development is taking place in the area in phased manner. Realtors predict that office space will be in large demand in the next few years.
In Hi Tech City
Through multiple service providers you can enjoy seamless data and voice communication. The region enjoys uninterrupted power supply through redundant feeders. A residential township is underway which will span across 87 acres of land. You can choose across 2,3,4 BHK apartments in Hi Tech City which will stand tall in serene surroundings away from the hustle bustle of the city. If you consider investing in residential property in Hi tech city you can look forward to enjoying facilities like clubhouse, community center, shopping complex and recreational facilities. You will enjoy your stay in the eco-friendly township.
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ABOUT THE AUTHOR
Ramya Mane is an experienced Content writer and publisher.She also provides advice and tips on real estate.