Time Ripe to invest in Realty in Hyderabad
There could not be a more opportune time to invest in residential property in Hyderabad. Property prices in Hyderabad have lowered considerably in recent times, inspite of the rise in prices of construction materials, due to a plethora of factors. They include political uncertainty surrounding the bifurcation of the state, economic slowdown, surplus supply compared to the demand, and the shift in focus to other realty markets.
ORR corridor presents growth potential:
There are mainly three growth corridors in the city that are seeing an unprecedented growth in realty. One of the corridors is the area in the proximity of the Outer Ring Road (ORR), about 20-25 km between Kokapet and Gachibowli. It comprises areas like Nallagandla, Tellapur and Adibatla. The important advantages of this corridor include excellent connectivity to the IT hubs as well as to the International airport.
Other growth corridors of the city:
The second growth corridor of the city is the Miyapur-Bachupally corridor. The prominent features of this corridor include the proposed Metro terminal and the Intercity bus terminal. Besides, there are also many prestigious educational institutions in this area. The third major growth corridor of the city is the Ghatkesar area. It holds immense growth potential as it was recently declared as a Information Technology Investment Region (ITIR) zone.
Demand-supply scenario of the city:
The real estate properties available in the city can be categorised into three namely, multi-storey apartments, independent villas and residential plots. The demand-supply scenario for these three categories varies largely. Currently, there is an oversupply of apartment units in the city, while for independent villas, the demand is more than the supply. This is because there are very few developers who cater to the requirements of this segment.
Demand equitable across all budget segments:
Requirement for residential plots is quite stable, with buyers looking at it more from an investment point of view. Another important aspect with regards to the realty market of the city is with regards to the budget segment which is pushing realty. In this context, it can be said that there is no particular segment as such for which demand is more. There is equitable demand across all budget segments, based on the purchasing capacity of the buyer.
Future realty prospects of city bright:
The future realty market of Hyderabad presents a bright picture, with the exponential growth in population of the city as well as the rise in size of the mid-income group. Currently, the population of the city is estimated at about 6.8 million, which is expected to touch about 1 crore in the near future. The rapid growth in population of the city coupled with the proportional growth in the size of buyers with larger disposable incomes increases the growth prospects of realty in the city.
Serious and committed developers to hold future market:
However, only committed and policy-abiding developers following all statutory requirements and who stick to best project management principles in construction will be able to sustain themselves in future. Stringent rules imposed by the Hyderabad Metropolitan Development Authority (HMDA) as well as the Greater Hyderabad Municipal Corporation (GHMC) will help to segregate the ‘wheat from the chaff’. Besides, the introduction of the Regulatory Bill will also act as a deterrent for errant developers, planning to make a fast buck through hook or crook.
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