Hyderabad’s growth continues despite ‘T’ heat

News pulse, Politics | admin | July 27, 2011 at 4:26 am

The Telangana issue may have kept Andhra Pradesh on the boil, but Hyderabad continues to beat the T-heat by reigning as a hot and happening destination for IT/ITeS (information technology and IT enabled services) sector, according to the latest report of real estate consultancy major Cushman & Wakefield.

In fact, with the exception of Bangalore, Hyderabad beat other key IT/ITeS destinations like Chennai, NCR and Pune when it comes to luring IT/ITeS players to mop up office space during the April-June 2011 quarter.

According to Cushman & Wakefield, of the total 1 million sq ft space that was lapped up by companies in Hyderabad during the quarter, nearly 8 lakh sq ft space was mopped up by the IT/ITeS sector, with the remaining being picked up by sectors like BFSI (banking, financial services and insurance), engineering and consulting.

In comparision, NCR saw 6.4 lakh sq ft space being picked up by IT/ITeS players, Chennai 5.4 lakh sq ft and Pune 4.8 lakh sq ft space. Bangalore saw a whopping 2.96 million sq ft space being lapped up by IT players during the quarter.

The quarter saw social networking giant Facebook expand its presence in the city by leasing another 1.2 lakh sq ft space at the Raheja Mindspace, where it had made its debut in the middle of last year.

Interestingly, the total 1 million square ft space absorption during the April-June quarter this year marks a 13% jump over total office space absorption in the city during the January-March 2011 quarter, putting to rest the fears that the T-stir was taking its toll on the city’s growth prospects.

This should clear the clouds that the Telangana movement has hampered the growth of Hyderabad. Except a few bandhs that were necessitated to exhibit severe dissatisfaction over the Government’s inability to solve the T-issue, Telanganites have made sure that the movement does not hinder the prospects of its capital city.

Telanganites have adopted innovative ways to protest like vanta-varpu, human chains, peace rallies, and hunger strikes.

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