Hyderabad: Experts on the real estate sector and developers are optimistic on the future potential in real estate sector across Telangana as the burgeoning Hyderabad and proposed industrial corridors are poised to generate more demand in the State in the days to come.

It’s estimated that more than 17million square feet of new office space is required in Hyderabad over next three years.

Real estate experts foresee growing demand for commercial space and is likely to remain robust in 2016-17 financial year. It’s estimated that more than 17million square feet of new office space is required in Hyderabad over next three years.

Property consultant CBRE also observed that global majors such as Google, Amazon and Apple have chosen Hyderabad for business expansion. This has further boosted the confidence on Telangana government. The industry-friendly TSiPASS and measures to create infrastructure facilities for the industry are further creating demand for the office space.

The rising industrial and business activity is also pushing rental growth particularly in the IT corridor. The higher rents are likely to be sustained over the three years. Many companies need to pre-commit their requirement on leasing space during the construction phase to protect themselves from future rental rise.

The rising industrial and business activity is also pushing rental growth particularly in the IT corridor. The higher rents are likely to be sustained over the three years. Many companies need to pre-commit their requirement on leasing space during the construction phase to protect themselves from future rental rise.

Several leading property consultants and research agencies in their reports predicted encouraging growth in real estate segment in Telangana. Hyderabad will see future demand for office space to the tune of 17 million square feet over the next three years.

Particularly, Ranga Reddy district around Hyderabad will see robust business and industrial activity as it’s home to IT and the Extended IT Corridors. The consolidation in the industry and expansion of IT companies are the major factors for the rise in office space demand.

The IT sector continues to top the list of industry verticals in creating demand for office space. The banking financial and insurance services (BFIS), pharmaceuticals and outsourcing sectors will account for more demand for office space after the IT industry.

The IT sector continues to top the list of industry verticals in creating demand for office space. The banking financial and insurance services (BFIS), pharmaceuticals and outsourcing sectors will account for more demand for office space after the IT industry. Other emerging sectors such as e-commerce and bio-technology are also catching up.

Several major projects are coming up in and around Hyderabad offering high quality office space. The new supply is expected to cater to the ever-increasing demand for office space in the next two years.