Real Estate Development shift focus from Bengaluru to Hyderabad

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Several Bengaluru-based property developers, facing land availability and cost hurdles in the Karnataka capital, have shifted focus to Hyderabad where land is cheaper and demand for large office spaces is rising, according to some real estate consultants.

The development is seen benefiting the property market of Hyderabad, popularly known as the City of Nizams, where there is good availability of land at prime locations and is comparatively more affordable. It is also attracting large IT companies which were finding the Bengaluru market too saturated for their expansion plans. According to global property consultants, nearly half of Hyderabad’s office space supply is being developed by Bengaluru-based developers, which has helped the city improve¬†the quality of grade-A office stock.

MasterKalyani Developers is the latest entrant into the Hyderabad market. It has proposed a 3-million sq ft office space project involving Rs 1,200 crore of investment, the second highest in Hyderabad’s office space market this year. RMZ, Slarpuria Sattva, Embassy, Divyashree and Purvankara are among the other Bengaluru-based developers who had entered the Hyderabad market earlier, enthused by the growing demand on the back of stable political environment.

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