Hyderabad builders worried about an oversupply of office space

With the fear of global recession, Hyderabad's property market has at least 25 to 30 million square feet of ready-to-occupy office space in its IT corridor.  

Another 50 million square feet is in the upcoming pipeline to be set up in the next three years time.  

A senior real estate consultant has recently said that Hyderabad might be unable to fill its existing office supply in the upcoming four years.  

He has also mentioned that not many corporates are willing to sign leases in the Financial District.  

P Ramakrishna Rao, the President of Credai-Hyderabad, had said that post-Covid, there have been issues that are inevitable, but they are temporary.  

Once all the offices open up and their staff returns, things will start looking up, he assures.  

Hyderabad's sale of units has increased to over 80,000. Factors like exorbitant land rates led to the developers building 4 to 6 lakh sqft per acre.