Hyderabad News. Hyderabad Real Estate Sees Signs of Awakening. Push for prime property drives city real estate recovery.     Hyderabad News. TOI 15.04.2012

After passing through a three-year lull caused by recession, political instability and the Telangana agitation, things seem finally to be looking up for the prime real estate scene in the city.
 

Revenue collection figures at the land registration offices for the city's hot spots show handsome collections for 2011-12, post the boom phase in 2006.
 

This despite the Sakala Janula Samme agitation during which land registration offices remained shut for 45 days.
 

The Rangareddy district revenue earnings for the year 2011-12 have gone up to Rs 818 crore against Rs 678 crore in 2010-11 and Rs 417 crore in 2009-10.This registration office, which has areas like Gachibowli,Madhapur,Kondapura and Miyapur under its purview, Is recording between 40 to 50 Registrations daily.

The scene at the registration office for Hyderabad (south), covering areas like Jubilee Hills, Banjara Hills and Punjagutta is more or less the same. This office is now seeing close to 20 registrations a day unlike in the last couple of years when the market was sluggish.

Revenue generated by this registration office for the year 2011-12 was Rs 153 crore, the highest in the post-2006 period. In 2010-11,that figure was Rs 133 crore and Rs 104 crore in 2009-10.
 

Real estate people say this is a welcome sign. RK Narra, managing director of Aditya Nirman Pvt Ltd, said : People who could not purchase land or flats when the rates were unnaturally high have now started investing.
Earlier, those in the IT sector were the biggest investors, but that has changed now.
 

He feels that at the moment it appears that things can only get better for the real estate scene in Hyderabad, irrespective of any turbulence.
 

Land rates for prime locations are showing an upward trend with residential segments, particularly in Jubilee Hills and Banjara Hills, seeing rates hover around Rs 60,000 to Rs 80,000 per sq.yard.