Revival of Boom Imminent, Say City Realtors
Realtors in the city are a happy lot, due to political ambiguity in the state ending with the Centre’s move to bifurcate the state. Hyderabad will once again emerge as an investment destination which will lead to an uptick in real estate prices, according to realtors believes.
At the ongoing Property Show-2014 organised by the Confederation of Real Estate Developers’ Association of India (CREDAI), realtors anticipated that the city would compete with other metros and is expectant of revisiting the boom period within no time.
Hyderabad has not reached its saturation point in terms of real estate market with the availability of many open lands in and around city, unlike other metros, as stated by realtors.
In the words of Realtors
“It is a misconception that the city has reached its saturation point. In fact, one can easily find that Gachibowli, Kokapet, Maheshwaram and Adibatla stretch has a great potential for both residential and commercial establishments. With a few IT companies having already planned to establish their centres nearby, there will be a huge demand for the land here. Likewise, there are many other places, “said by Saif Ali of Aparna Constructions.
In the coming years, , the city is expected to give a tough competition to other metros as an ideal investment centre due to the availability of well-developed infrastructure and transport connectivity
City to have better connectivity
Ch Ramachandra Reddy of RV Nirman Private Limited said, “Nowhere in the country is a city where one can reach any place within 30 minutes to 45 minutes from any nook and corner of the city, except Hyderabad. The connectivity will be further enhanced with the metro rail.”
As reported by realtors when the Hyderabad realty market was doing well in 2007 on a par with the other metros the economic slowdown and following political crisis in the state had a devastating effect on the city investment scenario.
Another realtor mentioned, “In 2007, the real estate market in the country was at its peak. The land prices in Hyderabad were on a par with those in Chennai, Bangalore and Pune. When you compare the prices in 2013, the prices of other three cities have doubled but those in Hyderabad stagnated. If there is any increase in the cost of buildings, it is only due to the increase in labour charges and material prices.”
Buyers feel that investing in Hyderabad is the safest bet even though the talk that many cities in coastal Andhra are competing for the capital of the truncated state. K Subrahmanyam, a retired employee of Singareni Collieries said, “I agree there is a lot of speculation that cities in coastal Andhra are likely to become development centres in the near future. Though I belong to Vijayawada, it is better to invest in Hyderabad as the city has already got good hospitals and well-developed infrastructure.”
Source: Indian Express
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