Economical Apartments Below 20 L available in South Hyderabad
For those who are looking at investing in residential properties in the economical category of less than 20 lakhs in South Hyderabad, it is music to the ears. This is due to the fact that an upsurge in the supply of residential property in the ‘below 20 lakhs bracket’ has been seen during the quarter ended June, 2013 compared to the previous quarter, when the supply quotient in this bracket was relatively lower. Residential plots are the type of property that is commonly available in this bracket.
Areas of availability:
Some of the areas where residential property are available in South Hyderabad in this price range are Shamshabad, Shadnagar, Sri Sailem Highway as well as along the Bangalore highway. All these areas are located towards the south of Hyderabad, towards the periphery or outside the city limits, as in the case of Shadnagar. The common feature in these areas is that real estate development has not caught up as it has in many of the other parts of the city. Hence, due to the availability of undeveloped land, developers can look to exploit these plots of land for investment purposes.
Developers who have invested:
There are many vacant plots in these areas, while residential apartments are yet to come up on a large scale. Prices of residential property in these areas are as low as Rs. 1,500-3,000 per sq yard, which explains the availability of residential apartment in the below 20 lakhs range. Some of the developers who are cashing in on these untapped areas are the HMDA (Hyderabad Metropolitan Development Authority), Mahesh Villa Builders and Developers, City Square Enterprises, and Suvarnabhoomi Developers.
Most of the real estate developments in South Hyderabad are plotted developments, which is largely investor driven. Investors had maintained a cautious approach hitherto with respect to investing in residential apartments is concerned. This can largely be attributed to the fact that demand was considerably low which when coupled with easy availability of residential properties, resulted in the prices in these areas being relatively low when compared to other fringe areas of the city which had relatively easier connectivity to the commercial hubs.
Infrastructure developments in South Hyderabad:
But, with large scale infrastructure developments taking place in the southern parts of the city, the potential that the areas in this part offers is immense. Some of the major infrastructural projects that are proposed to come up in the southern part of the city in the near future are the International airport coming up at Shamshabad, the first phase of the Outer Ring Road (ORR), the third phase of the metro, renowned tech parks such as the Rajiv Nano Tech Park, TCS IT SEZ, Pharma SEZIT Parks, Mucherla IT Park, etc. With all these projects awaiting completion, prices are set to move up soon. It is expected that prices will start peaking in 6-8 months time. Hence, it would not be a bad time to start investing in residential apartments so that their completion would co-incide with the completion of the prestigious infra projects in the southern areas of the city.
Positive investor climate:
With the city being plagued by various ills since 2009 like the economic slowdown and the political instability surrounding Telangana, investors were wary to go ahead with investments in realty due to projects tending to be non-lucrative. However, with the change in the economic as well as political climate of the city, investments are likely to stabilise and grow. So, this move by investors to sell apartments in the economic category of less than 20 lakhs is a welcome move to assuage the sentiments of buyers and thereby, provide a much needed boost to realty in this part of the city.
