Projects Details

Type: Commercial Office Space
Project Location:Kondapur-Hitech City Phase II, Hyderabad

Area:3.78 Acers

Size Ranging:300 Sqft - 600 Sqft
Price Starts From:29.46 L

Buy Summit

Purva Summit is a latest commercial development by Purvankara. This project is located in Kondapur, Hitechcity Phase II, Hyderabad. The office market in Hyderabad is dominated by the IT/ITeS sector. Which occupies 78% of the total Office space the manufacturing and BFSI sector occupies 6% and 4% respectively.

Other service sector companies like consulting and media, constitutes almost 15% of the office market. The IT/ITES sector accounts for approximately 2.84 million square feet of absorption in 2013. IT/ITES Sector companies such as Cognizant, Google and Amazon were among the companies that took up large format office spaces during this year. The reasonable rental values and better infrastructure are the prime factors working in favor of the Hyderabad office market as compared to other IT/ITeS dominated cities. The whole of office space of Hyderabad is divided into different business districts: The CBD & Off-CBD, The SBD, The PBD West & the PBD East. The SBD (Sub-urban Business District - SBD)

Accounts for over 60 % of the office stock in Hyderabad and is the most dominant part of its absorption pie. Its market share has stayed practically the same year on year as approximately 64% of the transactions during 2013 took place in the SBD market. The HI-TEC City and Kondapur together accounted for a massive 91% of the total space transacted.

THE GROWTH

Hyderabad recorded a net absorption of 2.3 msf, outperforming Mumbai, the commercial hub of the country, with an absorption of 1.9 msf. The top three performing cities in Office space absorption during the first six months of 2014 were Bangalore, Delhi-NCR and Hyderabad. Together they contributed 7.7 million square feet, which is 57% of the total net absorption of 13.4 million square feet (msf).

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