The real estate sector of Hyderabad offers a huge growth potential. Having evolved in phases, the realty market in the city was not the same, a couple of decades ago. However, it took off around 2004, as the IT sector started generating demand for residential properties across the city.
It was a perfect time for the abnormal rise in the rates, with real estate boom in Hyderabad opening the doors for investors and developers. The prices went up by five to six times and a major transformation raised speculations of a healthy future for the real estate sector in the South Indian city, explain industry experts at Modi Builders.
The land rates also jumped by three to four times and the people started investing in various locations in the city. Since residential areas in Mumbai, Delhi and Pune have been saturated, Hyderabad is turning into a leader of the pack by attracting various corporates and residential real estate seekers from other cities.
Young people are also migrating to Hyderabad due to the cost factor and a huge potential on purchasing a property. Experts at Modi Builders, one of the top builders in Hyderabad opine that the residential real estate sector in the city is not about small and affordable projects anymore. There are many luxurious projects in and around the city, which offer plethora of amenities to the residents.
Swimming pools, play areas, gymnasium, security, etc., are some of the basic amenities offered by all these projects. With great eco-system for healthy and hassle-free living, the buyers are preferring these spacious apartments over small spaces in the main city.
In terms of quality of life and residential pricing, the city is still offering better value for money, compared to the other metro cities. Hyderabad is set to add another 14,000 to 15,000 residential units to its inventory this year, which will further boost the growth of realty sector in the city.