What Makes Hyderabad A Positive Real Estate Market
Hyderabad, one of the most affordable cosmopolitan cities in India, has a reason to be happy. According to PropTiger DataLabs report on the second quarter of the financial year 2017 (Realty Decoded - Q2'FY17) while most Indian cities have been lagging behind in terms of housing sales, the Telangana state capital has garnered an increase of sales by 24 per cent when compared to the previous quarter (Q1'FY17) .
Price correction
In comparison to other leading real estate cities, unsold inventory here is also the youngest and stands at 21 months. On the other hand, this number stands at 66 months in Gurgaon and 53 months in Noida. While the factors that make the real estate in Hyderabad lucrative are many, an interesting trend to note is that capital appreciation is pushing up as well. With selling price rising by three per cent. “Buyers are always looking for price correction. The cheapest is the best. However, nobody wishes to compromise on the value for money aspect. In fact sales stagnated only when there was no appreciation. Prices are picking up which means the market is recovering and it is encouraging for a lot of buyers,” says Nishanth Reddy, broker, Vinayaka Group Homes.
In fact, about 25 per cent of the unsold inventory in the city continues to be in the mid segment giving this price-sensitive market more reasons to go for a value-buy. Here are top five affordable projects in Hyderabad.
Commercial growth triggers new launches
Data also suggests that new launches have gone up by 20 per cent. At a time when developers were looking at limiting their inventory in the market, Hyderabad's market is indicative of a revival and this rides on the back of a happy commercial market. Some of the big names such as Apple, Uber, IKEA, Google and Amazon have already lined up mega investment plans, raising the bar for commerce in India along with creating a large number of job opportunities in a short span of time. Big names apart, startups, pharma companies and fin-tech solution companies, too, are planning on increasing their headcount.
Opening of new avenues
Pent up demand for housing, too, would further make the market lucrative for potential buyers as well as investors. Thus, making now one the most opportune time to invest in Hyderabad with prices at their rational best and with commerce spreading its wings. One of the most sought after areas is West Hyderabad that has many leasing transactions on the cards. Even the eastern zone is marked for a new high despite being the slow sibling for many years. The Metro network, affordable prices, new companies and their investment, the construction of the ORR – work to the favour of the city.
Government initiatives to provide further acceleration
With Real Estate Act 2016 about to take full form across Indian territory, it is just a matter of time that an already up market of Hyderabad will get an additional push.
The government is also stepping up its game. From Land Management System to tackle illegal land to digitised records, from new infrastructure (expressways in Bowanpally and Tivoli Junction) to property registrations under the scanner, there has been a considerable push to governance that indirectly benefits real estate.
The urban state ministry also started off with a 24/7 call centre to note and address civic issues. You may have also come across an app called 'My GHMC' that helps you pay taxes online as well as register grievances. That's not all. If you have been facing water-related issues, you could soon 'Dial Your Chief General Manager'.