HITEC CITY – THE BUSINESS HUB!
The Hyderabad Information Technology & Engineering Consultancy City, also known as the HITEC City is a business district located in Hyderabad, Telangana. It is located within 2 Kilometers of the residential and commercial suburb of Jubilee Hills!
Property prices in HITECH City are less as compared to other posh areas of Hyderabad thus making it a hotspot of investment for new home buyers including families as well as bachelors. Jubilee Hills has picked up traction due to it’s close proximity to the HITECH CITY and other parts of Hyderabad in addition to the fast-paced infrastructural growth and development thus giving the Hyderabad Real Estate market a boost.
The HITEC City has been known to be on the grade A list for office leasing. In the first quarter of 2023, 76% of the total leasing was held by HITEC City! The new office supply in quarter 1 of 2023, was steady at 2 million square feet. Therefore one can say that the increased job opportunities with newer companies has led to a fresh new wave of opportunities and thus an increased demand in the field of real estate.?
The average office rent is Rs. 95.1 per sq. ft per month. Looking at the leasing shares & considering the new demand in the market, Bengaluru is at the top with 42% share, while Hyderabad is at the 2nd position with 25% share, followed by Delhi with 13%, Chennai 9%, Pune with 7% and Mumbai with 4%.
It is HITEC City’s proximity to mainstream areas that has attracted a lot of attention for it’s infrastructural development and has created a boom in the Hyderabad Real Estate world too!?
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