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Hyderabad Real Estate Market: On Its Way To Recovery
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The bifurcation of Telangana that was considered the biggest impediment to Hyderabad's realty market has taken a back seat now. It was only recently that all the political uncertainties were laid to rest after passing of the Bill in Lok Sabha. With the creation of new state have arisen new opportunities for realtors as well as investors. Telangana, which comprises of regions like Karimnagar, Nizamabad, Nalganda, and Waranagal, is expected to stand on its own feet in the coming years. With Hyderabad as its common capital, the hopes for futuristic development are all high.
Properties in Hyderabad, currently are highly undervalued, if compared to other tier-1 cities like Chennai, and Delhi NCR. The realty rates have shown a modest growth of only 12-13% since 2009. Over all these years, the city, in spite of good physical infrastructure and excellent connectivity, the overall real estate market never picked up, thus leaving the prices crawling along lower side of the graph. But with the division, the hopes of investors and developers have started building up again.
There is a high scope for Hyderabad real estate market to flourish and be at par with other metropolitan cities. In the last quarter of 2013, city's Housing Sentiment Index(HSI) underwent an appreciation of 22% as compared to previous quarter; this clearly indicates that the buyers' sentiments have improved and an average purchaser seems to be more receptive. HSI catches the mood of the buyers, and a decent value of 101 indicates that the real estate buyers are coming out of their shell. As per a research report, the percentage of buyers form Mumbai and Chennai, who are keen to buy a flat in Hyderabad, comprises of good number. This, in addition to city's own predilection, can do wonders for its real estate market.
The rates of properties in Hyderabad, hitherto, refrained from going up because of other factors too. The jaw-dropping interest rate and the crumbled rupee value against dollar played a dampening effect on buyers' sentiments. Inflation was an all-time high, diluting buyers' sentiments even more. But the things have ameliorated now and the developers are back in action. According to Hyderabad IT minister, Ponnala Lakshmiah, the city is a vibrant one and shall continue to grow, thanks to its stronghold over IT and up-to-the-mark infrastructural facilities.
One needs to wait and see which way city's property market heads. The rates are expected to see a good rise in another 8-9 months, and after that the market shall pick up even more.
Makaan.com is a leading India property sites that features 2, 3, 4 BHK property Hyderabad across different budget brackets. The site features price rates for Hyderabad real estate over a given quarter of year.
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