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