Posts Tagged ‘Sri kishna Committee report’

Real Estate: Manikonda Flats At Flat-Rates

Thursday, January 13th, 2011

A new lease of life has come into the worst hit real estate market and that is due to the Sri Krishna Committee report which ruled out Telangana. The realtors who were busy mending their wounds are now slowly emerging with the hope that things will change for better and the focus is again on Hyderabad.

However, few realistic realtors still feel that though the upward trend is expected, it would be a while for that to happen. One of the most sought after areas such as Manikonda has got builders selling their flats at flat rate whatever may be the situation.

Apparently, even if they are seeing a marginal increase in the selling price, they are not hesitating to dispose the property and are not waiting for a 30%-40% price rise. For now, their focus is on gaining some liquidity to clear their arrears and hopeful that brighter days may come at a later stage.

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Telangana protests hamper brand Hyderabad

Wednesday, January 12th, 2011

Real estate prices and investments in Hyderabad have dropped following the Telangana protests, raising questions over Hyderabad’s future.
Brand Hyderabad is about pearls, biryani, Charminar and Information and Technology. But for a year now, the city’s also been a hotbed of pro-Telangana support. The Osmania University campus – a centre of politics – remains tense after the Srikrishna panel’s report became public. Students continue to agitate for Telangana despite police warnings.
The metropolis is the bone of contention, as the Srikrishna committee report acknowledges. And with no party willing to part with the Nizam’s city, bandh calls & violence, though restricted, have become more routine – making investors edgy.

Real estate has been the big loser. The Telanagana issue, market players say, has made valuations worse – with land sales dropping by 35 to 40 percent. They say, bulk real estate investment has gone to the likes of Bangalore and Chennai. But investors remain hopeful, especially now that the Srikrishna Committee report has been made public.

With the festival of Makara Sankranti approaching, even the ferment at Osmania University campus has come down.

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Trouble may erode bizconfidence in Hyd: Panel

Friday, January 7th, 2011

“T”-rouble may erode bizconfidence in Hyd: Panel

Stating clearly that growth of Hyderabad was the key to the growth of the region irrespective of what contours the area takes, the Sri krishna Committee report has said that any further unrest would further destabilize the economy, trigger flight of capital and erode business confidence in the city.

Quoting industry statistics, the report said while 128 projects worth Rs 61,971 crore are under various stages of implementation in and around Hyderabad, 223 projects to the tune of Rs 1.87 lakh crore that were announced are awaiting to take off and would stand to be derailed in case of any further unrest in the region.

The committee report pointed that Hyderabad is now quite closely linked to the national economy and indeed to the global economy as evidenced by the recent investments by firms such as JP Morgan and Facebook. Focusing on the high proportion of modern services, especially financial services, developed in the city, the committee pointed that the city has all the characteristics of a world city economy.

Almost seeking special status for Hyderabad, the report detailed the size of the Hyderabad economy as compared to the three regions. Hyderabad controls over 19 per cent of the transport revenue, 39 per cent of the revenue from modern services and 16 per cent of traditional services in the Gross Domestic Product (GDP) of Andhra Pradesh.

Source: Times of India

Real Estate Hopes A Good Year

Thursday, December 30th, 2010

Though the tension is palpable among all sections of people, but particularly those settled in Hyderabad and surrounding areas from the Seema-Andhra region, on the fallout of the Sri krishna committee report, realtors are strangely optimistic about enjoying good sales in 2011.

The Confederation of Real Estate Developers’ Association of India (CREDAI) doesn’t see any drastic change in real estate prices in the New Year.

Hyderabad and surrounding areas have seen a major real estate boom during the past few years though immediately after the December 9, 2009 announcement on Telangana by the Union home minister, Mr P. Chidambaram, the environment had been vitiated somewhat.

The IT sector too has reported good growth and scores of IT companies, including MNCs, are back recruiting on campuses, indicating that the companies no longer fear the fallout of the Telangana agitation.

The Chief Minister, Mr N. Kiran Kumar Reddy has assured industries and entrepreneurs that the government will provide security and a healthy environment for investments.


Real Estate Hopes For clarity On Telangana

Thursday, December 30th, 2010

Struggling to find recovery path after the boom went awry in the last couple of years, real estate Hyderabad has been going through a lean patch and has pinned its hopes on some clarity emerging on the Telangana issue.

The real estate need some clarity and cannot operate with this kind of dilemmas. Uncertainty is just going to kill the prospects of city’s growth and the more the Telangana issue is dragged, more the city’s progress is going to get stagnant,” says K. Ravinder Reddy, chairman and managing director, Janapriya Properties.

Some in the industry are distressed at the property sales dipping further with the Sri kishna Committee report date inching close. “As it is, the sales get affected till Sankranti festival since this period is considered inauspicious for property acquisition. But the T-factor has further affected it,” points out C. Prabhakar Rao, president, Greater Hyderabad Builders Federation.

Source: The Hindu