High level of interest from Indian and multinational companies in the IT/ITES sector has been driving the demand for office space in the city over the past few years. Madhapur, Manikonda, Gachibowli and Raidurga are the technology hubs. Office space supply has increased from 1.6 mn sft to 12 mn sft in 2010.
Commercial / Office Space Rentals INR /sft /Month are as follows,
- CBD (Begumpet/ Raj Bhawan Rd, Banjara Hills) Rs 65
- Secondary market (Jubilee Hills, parts of Banjara Hills) Rs 55
- IT Corridor – Madhapur, Gachibowli, Hitec City - Rs 42
- Suburban – Himayat Nagar/Ameerpet/ SD Road - Rs 35
- Gachibowli, Hitec City Shamshabad, Pocharam - Rs 30
Expect rental/capital values to correct in prime suburban and peripheral locations, owing to slowdown in demand and near-term supply pipeline. Vacancy levels are likely to increase further over the next few quarters on completion of the large planned projects.
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