Hyderabad realty is driven by IT professionals

Q: The IT growth corridor in Hyderabad makes the city habitable for home buyers. Kindly discuss on this news and let me know the details.

Javed, Chennai

12th May 2014

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Replies (4)

Whether dwelling unit can be used for residence as well as for professional use?

Abdul Zafar, Hyderabad

13th October 2015

Comment

A person is “deemed to reside " in any dwelling which he sometimes uses or some portion of which he sometimes uses, though, perhaps, not uninterruptedly. as a sleeping apartment; and a person is not deemed to cease " to reside " in any such dwelling merely because he is absent from it, or has elsewhere another dwelling in which he resides, if there is the liberty of returning to it at any time and no abandonment of the intention of returning thereto.

david.m,

13th October 2015

Hi David, You are right!! Professional offices and studies of a resident of the premises and incidental to such residential use, or medical and dental practitioners dispensaries or clinics of a resident of the building with only out patient treatment facilities without any indoor work, each not occupying a floor area exceeding 30 sq.m. (but not exceeding 50% of the total area).

V. Victor,

13th October 2015

According to High Court decision when residential premises are used for dwelling as well as for business office purposes so however that the dominant user still remains residential, it would not be in breach of the bye-laws and regulations of the society as there is no change of user involved.

david.m,

13th October 2015

As per my knowledge, Professional activities will not be permissible except by Architects, Chartered Accountants, Doctors and Lawyers. Even by these professionals, professional activity will not be carried on in excess of 50% permissible coverage in residential premises and by anyone who is not a resident (dwelling) in such premises.

bashir,

13th October 2015

Hey Can I find a home in Gachibowli for below 30 lakhs ??

Vivek Kulkarni,

12th May 2014

Comment

Hey Vivek, yes Lingampally, at a distance of about 9-km from Gachibowli through the Prof CR Rao Road, also known as the Old Mumbai Road, offers several housing options in the said budget. With property values ranging between Rs 2,500-3,000 per sq ft.

Kunal,

12th May 2014

What is the price range in Hafeezpet ??? How is Madinaguda ?

Vivek Kulkarni,

12th May 2014

@Vivek: The price range in Hafeezpet would be Rs 30 lakh, for 800-900 sq ft in size. located at a distance of 11-km from Gachibowli the locality offers similar options of 1 and 2BHK units. In Madiguda, . If your budget is even lower and stands at somewhere between Rs 15–20 lakh, you may have to settle for 1BHK units of 450-500 sq ft area.

Kunal,

12th May 2014

How is Nallagandla and Kondapur ?

Pranab Malakar,

12th May 2014

Comment

The capital values in Nallagandla is Rs 2,600-3,000 per sq ft. Apartments of 2BHK are available for Rs 30-37 lakh, with sizes varying between 1025-1250 sq ft. And in Kondapur it would be Capital values range from Rs 3,350-4,150 per sq ft. Units of 2BHK are up for sale in the price range of Rs 32-69 lakh. The sizes are between 1000-1600 sq ft.

Gurmeet,

12th May 2014

Hello Javed, the main reason is the realty hotspots in India are mostly driven by the working class. The majority of investment undertaken in the city comes from the IT professionals.

Gurmeet,

12th May 2014

Comment

How is Madhapur ?? What are the capital values here ??

Balwinder Singh,

12th May 2014

@Balwinder : The locality includes IT/ITeS companies, BPOs and multinational companies. Its also adds proximity and resultant connectivity to IT destinations of Hitec City, Kukatpally, Kondapur and others. Hitec MMTS station is the closest and also the Andhra Pradesh State Road Transport Corporation buses serve the locality well.

Madhapur are in the range of Rs 4,300-5,500 per sq ft. Also 2BHK units are available in the range of Rs 36-76 lakh.

Gurmeet,

12th May 2014