Q: I had bought an apartment in Tellapur in the year 2009, so I could invest in the real estate sector. But the market fell after that so I’ve been waiting all these days for things to get better. Now that the dispute is solved, is the market better? Should I consider selling my property now? Please advise guys
Talking about capital appreciation percentages, real estate experts have predicted the total appreciation in the year of 2014 to be around 10%. No doubt this is a very good time for Hyderabad real estate, and those who, like you, are looking to sell their property at such a time, or even rent or lease it out, are going to have a huge profit. The time you bought the property, I think the square foot price rate was Rs 2900, right? See how much it has increased since then. Though I think you should consider renovation works, since your property is over 5 years old. Renting should be a lot easier, though. Good luck with it!
I agree with him. Many people in Hyderabad still cant believe how rapidly the prices here are rising. It had fallen to an all time low in 2010, with the average square foot price being Rs 2800. After the state division was finalised, it rose to a whopping Rs 3600 by the first quarter of 2014. Capital appreciation in the city happened by 7.8% last year, and 4.34% in just the first quarter of this year. Imagine how much more it will grow by the time the year is over!
I think you’re very lucky that you have an apartment to sell in hand. I really feel bad for those trying to buy new apartments now that the prices are climbing up steadily. It will be the perfect time for you to get a good deal out of your apartment. Post the Telengana issue, Hyderabad is seeing a lot of growth in real estate, what with the development of the ITIR, and the educational hub and all that. You could sell it now, or wait it out a bit more, because henceforth prices are going to go up.