A few days ago, I praised the rise of Chennai as a serious contender to Bangalore in one of my entries. If you have read the post then you know already that Chennai was declared as the most attractive destination in India for offshoring services in the survey of US-based A T Kearney. Hyderabad was in the second position and today I like to cast some light on this city.
The rise of Hyderabad is dramatic and rapid. In just 11 years, it has become one of the top 3 cities of India (along with Bangalore and Chennai) in IT success. Now many multinational companies (MNC) are heading towards the city and as a result the price of real estate is becoming sky high. Intel, Hyundai, Infosys, ISB, IIIT, BITS- all are here in this South Indian city. The price hike is going at an incredible fast pace and buying or renting a house in the city center is now out of reach of even many rich Indian. The price hike is much that even the government has now decided to revise land values 10% upward.
Reading about the price hike of land in Hyderabad I was thinking today that may be it is now even better for a businessman to invest in buying a land than trying to start an IT company in this city. After all, if you open up an IT company and got outsourcing, you run the risk of incurring loss but if you buy a land then you can only make profit.
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