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Prices In Hyderabad Rise After Telengana Issue Was Resolved
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Now that the issue of Telangana seems to have resolved, Hyderabad property rates are expected to undergo appreciation in the months to come. A double digit increase in price per square feet is predicted for in the next year. The city better known as Cyberababd, has seen a tremendous growth in IT sector which, in turn, has influenced the rates of property here.
In localities like Kondapur, Gachibowli, and Hi-Tech City, the rates are quiet high. In Banjara hills, the per square feet rate is all set to grow, a figure much higher as compared to other cities. In a plush locality like Kondapur there has been an increase in rates of property in Hyderabad, a trend that is attributed to it being a major IT hub. Also the nearness to other IT parks like Hi-Tech and Gachibowli make Kondapur a much sought-after locality for professionals.
Property in Hyderabad, in the famous Jubilee Hills, has also been rising infact many new retail markets are set come up in this region in the coming months. New retail markets are also coming up in the Begumpet area. Many commercial development are also been seen in the suburbs of Hyderabad. Development of commercial Hyderabad property and bifurcation of the Andra state has given a boost to properties in Hyderabad.
Touted as a major commercial spot and seen as a lucrative option in the corporate sector, Jubilee Hill is facing higher supply-demand ratio in case of rental properties. A study last year showed that a lot of commercial spaces are either empty currently or have a lower number of tenants as can be accommodated. This is due to the high rental rates in this area with the owners fixing a high price rates for their spaces. In many cases, house owners charge such exorbitant prices for the unfurnished properties too. All these have forced an average buyer to look out for other options while on the look-out for a residential property for sale in Hyderabad.
One of the other trends that can be kept in consideration while purchasing properties in Hyderabad is the preference of buyers. Most of them look forward to buy 'ready-to-move-in' property Hyderabad rather than opting for under-construction projects or the very old ones. The city has seen a rise in property rates in both residential and the commercial spaces as people are looking to invest in 1,2, 3 BHKs, villas, apartments, plots, shops, PGs, malls, and office spaces in the city.
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