Telangana, game changer for Hyderabad realty: Jones Lang

The creation of Telangana is good news for Hyderabad real estate market, feels Sandip Patnaik, MD, Hyderabad, Jones Lang LaSalle India. "The fact that Hyderabad will now become the joint capital for the next ten years is especially encouraging for the city’s real estate market," he says.

The last 3-4 years had been particularly troublesome, the state of affairs had given rise to a lot of doubt in the minds of residential end users, investors as well as companies that were considering Hyderabad for its unique business potential, he says. Also Read: Logic of Telangana sound: Why India needs 50 small states Post the clarity on the Telangana issue, investors are now glad for not pulling out of Hyderabad, says Patnaik. He expects to see end-user demand pick up in the next 2-3 months, leading to better appreciation in many areas. The locations which are likely to see the fastest uptick include those on and around Outer Ring Road, the CBD area of Banjara Hills and Jubilee Hills, and areas such as Gachibowly, HiTec City, Kukatapally, Miyapur and Chandan Nagar, says Patnaik. According to him, in commercial real estate, increased action is expected as corporate clients who were sitting on the fence will now feel comfortable with the idea of entering and expanding in this lucrative market.