| The real estate speculator is out and the serious end | | | | was in the range of 100-200%. However after March, |
| user is in. Hyderabad saw a property boom with plum | | | | it has been between 5-25 per cent depending on the |
| real estate returns in the last three years giving birth to | | | | area where you invest." |
| a lot of speculators in the real estate market. | | | | Typically these real estate traders would park only up |
| According to M V Sudarshan of Manjeera | | | | till a maximum of Rs 5 lacs and would go up till two |
| Constructions, a Hyderabad based real estate | | | | installments. After an increase in the property values in |
| developer," It is true that there were a lot of | | | | that project, they would sell this off to a genuine buyer |
| speculators who were trading in real estate. They | | | | and then park their funds in another new project. |
| would buy a property at say Rs 1200/sq. ft and sell it | | | | Today, it is the IT professionals who are driving the |
| at Rs 1800/sq. ft. After making a fast buck, they would | | | | property market in Hyderabad. They are serious |
| invest elsewhere. They would invest only up till 20-30 | | | | buyers and want to invest in upmarket residential |
| per cent of the total value of the apartment and then | | | | projects. Experts opine that even though supply is a lot |
| exit. These were mere traders in real estate, we can't | | | | in this segment, the demand is also increasing what |
| call them investors and they were definitely there until | | | | with IT companies recruiting professionals by the day. |
| March this year." | | | | The dollar to rupee ratio has not had any negative |
| Then what led to their exit, all of a sudden. According | | | | impact on recruitments, rather the demand is very high |
| to a Hyderabad based property dealer, "From 2004 till | | | | for good apartments especially in Hi tech city, |
| 2007, the annual appreciation in residential real estate | | | | Madhapur and Kachiguda. |