Hyderabad: Lucrative areas to invest in realty in 2014
Hyderabad has gained the status of being one of the most affordable cities in India for investing in real estate. The political instability coupled with the economic slump has resulted in real estate prices in Hyderabad touching rock bottom levels. However, a resurgence is the Hyderabad realty market is expected in 2014 as it is in other cities in the country.
Hitech city and Gachibowli are lucrative options:
From a buyer’s perspective, the prospects of buying property in the city at lower costs is still very much possible, provided it is not delayed further. This is because the prices are expected to shoot up post the General elections in the country. Considering that this is the best time to invest in property in the city, a pertinent question still remains. This is with regards to the area in which to invest which depends primarily on the budget one is looking to invest. Hitech city and Gachibowli are two neighbouring areas on the west of the city that presents immense prospects. There are various projects that are coming up in these areas in different price ranges due to the wide-spread development in terms of social and physical infrastructure as well as connectivity.
Buyers can negotiate with developers for good deals:
Considering the infrastructural development as well as the future prospects that these areas offer, prices here are certainly not on the lower side. The average prices for residential apartments in Hitech city ranges between Rs.4,600-5,200 per sq.ft, while those in Gachibowli ranges between Rs.3,500-4,500 per sq.ft. Considering that these are upmarket areas of the city which are part of the IT hub on the west, prices have not dropped compared to many other areas. Hence, if buyers are prepared to stretch their budgets a bit, they can avail of fantastic deals considering that many developers in these areas are willing to negotiate regarding the prices to a certain extend. However, this provision may not be available post the elections, when prices are expected to increase.
Areas for the budget-conscious buyers:
The budget-conscious buyers can avail of residential apartments in areas like Narsingi, Tellapur and Appa Junction on an affordable budget. Apart from offering apartments at affordable prices, these areas also provide easy accessibility to the IT hubs like Hitech city and Gachibowli. Besides, there are many other areas on the fringes of the city that offers affordable residences. However, it would be wiser to invest in areas which have a better growth potential in future considering the higher price appreciation that these areas would command in future. It is in this context that areas like Tellapur, Narsingi and Appa Junction would appear more appealing. Prices in these areas range between Rs.3,000-4,700 per sq.ft, with many options from apartments as well as villas to choose from.
Depending on one’s budget and other preferences, this would be an opportune time to invest in realty in Hyderabad before prices start to shoot up, post the elections.
