Hyderabad is the capital city of the newly formed Indian state of Telangana. It is growing and the city has a good status in global market. Are you planning to buy a property or flat in Hyderabad? With the booming ShantaSriramTechpark, the city is now also gearing up for the influx of millions of international travelers who will be commuting through the new Shamshabad International Airport, also various mega projects like new Hardware Park, IT Parks, Textile Parks, Seven Star Hotels and many more projects have put Hyderabad city on demand.
Hyderabad apart from its rich history and Mughlai cuisine is blooming in its Real Estate and the land prices are skyrocketing. The city’s infrastructural development plans took a strong step forward three years ago. People in Hyderabad do not prefer staying in apartments and believe investing 20 odd lakhs to buy an apartment is not worth, and rather prefer buying a land and building their own house. Today is the time of investing money in Real Estate business in Hyderabad.
The announcement for the creation of the separate state of Telangana, marked an end for many developers across Hyderabad a long period of uncertainty that had undermined business growth in what was once a booming real estate market in the country’s fifth largest city. There is a renewed hope that this decision will spur economic growth in the city, which is home to the Indian headquarters of Microsoft, Google, Facebook, Amazon and Yahoo.
The market has already discounted the Telangana effect. “Hyderabad is predominantly an end-user market. The dip in the sale of flats in Hyderabad, however, is not confined to Hyderabad alone. Other cities in Seemandhra, such as Guntur and Vijayawada, have also reported lacklustre business as sellers await further price appreciation.
Though, the real estate market had revived after the elections. But, potential buyers see no further decline in prices – Ruling out price erosion on two simple premises. First, developers cannot sell properties at less than cost price. Second, prices in Hyderabad, which has world class superior infrastructure, are now on par with those in smaller cities like Bhubaneswar, Vijayawada and Pune.
Prospective buyers are adopting a wait-and-watch approach in both Telangana and Seemandhra. People are waiting to see if there will be a further drop in prices, whereas some are waiting for the selection of the new capital. Also, property transactions usually drop during the closing of the financial year, and that people don’t purchase flats before the general elections.
Hyderabad has enormous properties to select from in a variety of different neighborhoods. As per your requirement you can select to reside either near schools, parks, IT companies or any recreation activity. Flats in Hyderabad for salecontinue to grow in leaps and bounds. Hyderabad real estate is home to a number of incredible properties. Shopping, food, nightlife and sports events are ranked high on the list of Hyderabad amenities.
The one important point one should consider is to take legal advice from your legal advisor while purchasing any type of property in Hyderabad city to avoid any kind of mishap or fraud. Properties in Hyderabad vary from plots, flats, apartments, independent homes, office and commercial space to beautiful villas and luxurious resorts.