The demand for residential properties in Hyderabad declined by 11-12 per cent between June and August period, this year, according to a survey conducted by online real estate portal.Nevertheless, property prices have gone up in 22 out of the 37 localities surveyed in the city. In 15 localities, the prices declined in the range of 1 to 10 per cent in these months. According to portal’s vice-president and business head Aditya Varma, the survey covered 53,577 persons who are looking towards purchase of residential properties. While 44 per cent of the demand is for residential properties costing less than Rs 30 lakh, 25 per cent demand is for properties ranging between Rs 30 lakh and Rs 60 lakh and 20 per cent of the demand is for properties costing Rs 60 lakh to Rs 1 crore.

The demand for properties valued at over Rs 1 crore is 11 per cent.Interestingly, the survey reveals, 62 per cent of the property seekers are willing to purchase residences anywhere in the city provided their essential requirements are met. For the purpose of the survey, the state capital was broadly divided into greater Hyderabad, Hyderabad and Secunderabad. However, the report did not explain on what basis the divisions were made. For instance, Hitec City and Banjara Hills areas were included in the Hyderabad division while Jubilee Hills, located between the two areas, was included in the greater Hyderabad division. Varma said that such “flaws” would be removed in the future surveys. Similarly, with regard to the residential property for rent, the report stated that the sample size was lower than that of seekers looking to buy, which “might cause some error in the analysis”. The demand for rental properties, the report indicated, too declined by 5 to 11 per cent.

The Tatas are proposing to set up the country’s first defence and civil aerospace hub at Aadibhatla, near Hyderabad. Speaking during the inauguration of the India Aviation-2008 at the Begumpet Airport on Wednesday, Chief Minister Y S Rajasekhara Reddy said the Tata Group’s Tata Advance Systems would invest Rs 500 crore in the proposed special economic zone to set up the aerospace hub to manufacture radar and satellite systems. The AP Government would provide 50 acres of land to the Tatas at the SEZ near the hardware park to set up the aerospace hub.

The Tata’s aerospace hub is over and above the Lepakshi Aerospace Station and Academy that may also come at Chilamatur in Anantapur district. Besides, the Lepakshi Aerospace Station and Academy will also come up at Chilamattur in Anantapur district for design, manufacture and maintenance of military and civil space vehicles. Besides several small business jets by Dassault, Bombardier and other companies, an Airbus 319 acquired by Air India landed at the airport during the country’s first-ever international aviation exhibition and air show. The Airbus 319 would be inducted into the Air India fleet. Airbus, Boeing, Hindavia, Jeppesen, Bell Helicopter are also participating in the show. The much-awaited Airbus A 380 would land at 12 noon on Thursday.

Inaugurating the exhibition, Civil Aviation Minister Praful Patel said the aviation industry in the country was in the midst of a crisis but the Government was doing all it could to help them out. “It is a tough time for the entire industry worldwide,” he said. “We have set the ball rolling for the development of the Indian aviation sector. We are also committed to making aviation safer and cleaner with the co-operation of other countries like the US,” he said. “Indian aviation is here to stay.” Patel said to develop the sector in the country, about 400 old and unused airports would be made operational in a phased manner.

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The Union government said the Hyderabad Metro Rail project would be showcased as a model for other public transport and infrastructure projects. The Union joint secretary for investments, Mr Sidhartha Pradhan, who reviewed the progress of the Metro Rail project here on Monday said the bidding process of the project reflected a win-win situation for both the government and the private developer.

He congratulated the HMR managing director, Mr N.V.S. Reddy, and said the agreement would pave the way for development of largescale infrastructure projects in the country. Metro Rail officials said work would begin as per schedule with the cooperation of civic bodies. Shifting of utility services will begin very shortly so that the actual work would start in the first quarter of 2009.Mr Pradhan's observations assumed significance in the backdrop of the comments of the Delhi Metro Rail chief, Mr E. Sreedharan, who had reportedly raised doubts over the motive of the developer and said the further expansion of the Metro Rail would lead to real estate business in Hyderabad. The state government reacted swiftly and said the exchequer would receive around Rs 30, 000 crore over a period of 30 years with the agreement.

The government snapped ties with the Delhi Metro Rail officials after the controversy and threatened to file a defamation suit against Mr Sreedharan. The issue subsided with the intervention of the Centre which had reportedly asked officials of both the Hyderabad and Delhi Metro Rail authorities to maintain calm.

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Malls are coming up at a rapid pace in newly developed areas of Hyderabad. In the next two years, new residential areas will also have facilities on par with the main city. people in smaller neighbourhoods will no longer have to visit general stores for their everyday shopping. With the advent of malls in every part of the city, shopping was never as convenient. In a bid to cater to the changing needs of people, The real estate and infra companies are now focussing on malls and multiplexes. real estate and infra companies say, residents of their townships and people in the nearby neighbourhoods can get the best of everything under one roof.

Some companies also expect that the commercial activity in the surrounding areas, will enhance the value of the residential projects, ensuring returns on the investments of property buyers. Many companies, including Lanco, GVK, Manjeera, DSL Infrastructure Private Limited, have already taken up projects in city. The Lanco group is coming up with 16 theatres in its multiplex as part of the Lanco Hills project at Manikonda. “We are investing Rs 650 crore for developing the multiplex with 2 million sft by the end of 2011. It will be the biggest multiplex in South-East Asia,” said S.Pochender, CEO of Lanco Hills project. GVKOne, which is being constructed with an investment of Rs 100 crore in Banjara Hills will house fashion labels, hypermarket, food courts and a 5-screen multiplex.

“Our project will provide a wonderful experience to people,” says Isaac George, CFO, GVK. DSL Infrastructure and Space Developers Private Limited, has already begun the construction of a 4-screen multiplex in 5 acres of land in Uppal, anticipating a huge response from residents of surrounding areas, including LB Nagar, Dilsukh-nagar and Ramanatapur. The construction work is likely to be completed in 18 months. “Multiplexes will rule the entertainment industry as the spending power has increased. More over, viewers are giving top priority to quality experience,” said Manoj Agarwal, managing director of DSL Infrastructure. Manjeera Projects has acquired six-and-a-half acres of land for the construction of a 5 screen-multiplex along with a shopping mall and residential project.

“people who live on the outskirts of the city need not go too far for their entertainment needs once this multiplex project is completed,” said G.Yogananad, managing director of Manjeera Projects. these companies are also giving top priority to parking, since it has become a major problem in the existing shopping malls and multiplexes. “GVKOne provides parking space for more than a 1000 cars,” said P. Surya Prakash, MD of Satyavani Projects, consultancy firm of GVKOne.

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