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Hyderabad became the capital of the newly formed state of Andhra Pradesh in 1956. Located 650mts above sea level, the physiography of the city is dominated by hills, tanks, forests and rock formations. The city is strategically located on the Indian map blending the cultures of North and South India, National Highway No.7 and 9 passing through it. It is a city of cosmopolitan character embracing people of different religions, languages and races.
The city's population in 2001 was 3.6 million and it has reached over 4.0 million by 2009 making it among the most populated cities in India, while the population of the metropolitan area was estimated above 6.3 million. Hindus form a majority in the city. Muslims constitute about 40% of the population, making Hyderabad's Muslim community the largest in Andhra Pradesh. Muslims have substantial presence across the city and are predominant in and around Old City (Hyderabad), where they form 70% of the population. Christians constitute a small amount of the city's population. Churches are located across the city and the popular ones are in Abids and Secunderabad areas.
Hyderabad has a number of universities, research and training institutions, including defence, police and administrative academies. Hyderabad plays a major role in the field of Information Technology as well (SEO Services). Besides major industries both in state and central sectors, it is famous for tourist attractions like Charminar, Qutubshahi Tombs, Golconda Fort, Zoological Gardens, etc., Hyderabad was founded in 1591 by Mohd. Quli Qutub Shah after the earlier capital city of Golconda became over crowded. As per 2001 census, the population of Hyderabad Metropolitan Area was about 6.5 million, spread over an area of nearly 1864 sq kms. with decadal growth of 29% and ranking 6th in population among the major metropolitan cities in India.
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Its hard to find an optimist in the Hyderabad Real Estate scene now a days.
DLF recently launched an apartment complex at Rs 1850 per sqft and with all amenities included you will get your apartment at the golden mile [ kokapet ] for around 2300 per sqft. Builders are scared and the local mafia is trying to play it down saying that
a) Land is not cleard
b) Permissions are not clear
c) DLF is going to cut corners in quality etc., but I think DLF finally brought some sense of relief to the market led by lies.
They had the guts to agree that Land had some issues in the past and that some permissions are still pending. When it comes to quality, I dont think DLF will fare any worser on the Quality front compared to the local Hyderabad Builders. My Take, if you are ok with waiting for 3 years and have the cash, its a good buy. There are still some issues with the overall project, but its better to invest in a company that is being transparent instead of your neighbour’s milk man who turned into a real estate baron. Will DLF stay afloat ?, thats a different question and only time will tell.
HUDA Auctions:
HUDA put up a number of plots at slashed prices and could not evoke any interest in the plots at nallagandla etc. Last I heard is that they received 20 bids for 500 open plots. Remember those days when they used to get 6 times the number of open plots? DC recently reported that there are 20 thousand apartments up for Auction from defaulters. They dont call them foreclosures but this is equivalent to a Hyderabad Foreclosure list. Most assets I hear are from the overstretched Software Engineers who bought expensive homes based on future earnings and when jobs are tough to retain and when increments are hard to come by, they have no option but to default. I am still trying to figure out how I can get more info on these auctions and will post it if I get some more details.
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