Realty in few areas of city picking growth momentum
Hyderabad’s Real estate’s scenario appears to be coming on its own, especially after grappling for a while with the negative sentiments associated with the state’s bifurcation. Certain areas in the city have set on track the real estate growth momentum even while real estate in many other parts of Hyderabad have more or less remained stagnant . As per the quarterly report for July – September 2015, Manikonda has seen a whopping 26% year- on- Year price appreciation. But some locations have under gone exceptional price apperception like Manikonda , Gachibowli , Jubilee Hills, Nanakramguda and Yapral owing to their habitability quotient and the supporting Social infrastructure.
An interesting fact that emerges from the findings of the report is that, areas that are at a considerable distance from the city’s ITeS hub of Madhapur and Gachibowli. While there are IT and ITeS professionals who live in Yapral, a large chunk of government officials and military personnel of higher cadre prefer to buy Flats in Gachibowli.
Gachibowli is one of the few localities that offer high-end villas and Apartments in Gated Communities with all modern amenities. There are also flats options here catering to the mid-segment market.
Pointing out the distinct advantages of Manikonda and Gachibowli , Manikonda is just 3 Km away from financial district. While Jubilee Hills is barely 3 Km away from Hi-Tech city, the other factors that contributed to an exceptional price appreciation of 96% is that fact that the area is the most elite real estate destinations of the city and it’s a status symbol to own Apartment here. Gachibowli has very few projects as there is a restriction on building apartments here.
One of the findings of the report that demands attention is, the city has existing stock of 1700 housing units which are in the Ready to Occupy state and these Flats have failed to attract home buyers in affordable Category of less than 50 lakh. Also, the report estimate the oversupply of Flats/Apartments in the city to be nine times more than what could be absorbed and 60% of this of Flats or Apartments stock falls in the cost range of less than 70 lakh.
Hyderabad’s commercial real estate has picked up , growth in Residential Real estate market will also pick up, however it will be more stable this time.
Is the right time to invest on Property in Hyderabad?
Hyderabad is a growing market. First time home buyers kept away from investing in new properties due to project delays and uncertainty over the Telangana region while homes in the resale market remained in demand among serious buyers. This showed that investors were keen on buying ready properties, preferably in areas with established infrastructure. However, investors are also showing interest in investing in premium properties located at Gachibowli, Manikonda and Hitech City.
The most available properties types in these localities are 2 BHK, 3BHK and 4 BHK Flats or Apartments. The size range for 3 BHK flats is 1845 – 3125 sqft and price between Rs 83 lakh – 3 crore and above.
Why are Apartments in Demand in Hyderabad?
The real estate market of Hyderabad is the most prices conscious when compared to Chennai, Bengaluru and others. However Luxury Apartments within Gated Communities are gaining buyer interest due to the social infra structure and security.
The City has properties for mid and affordable segments that account for almost 85% of active listings in the market. In Fact Hyderabad is a cheaper and reasonable market for both investors and buyers. The capital values are also flat and incentives provided by developers during the festive season have helped to gain some traction in the market.
Currently it is good time to invest in Hyderabad due to its affordable housing segments. The property valuations of Hyderabad are good as compared to other metros. The demand too is high in the Flats and Apartments categories. Overall the city is an ideal place for investing in the real estate market. for more detials: www.brcinfra.com