The impact of aggressive policy changes in 2016-17, may portray an image of a sluggish real estate market in India. However, the fact is that market, at the micro level, has been up and running. Investors can expect good returns in metro cities, as they are offering reasonable property prices.
With the introduction of Real Estate Regulation Act (RERA), developers are in an urgency of completing their ongoing projects. Owing to these policy changes, Indian home buyers are also exercising due diligence while taking decisions. They now spend ample time doing in-depth research of the property they are investing in.
The micro market of Hyderabad could offer value to the home buyers. On its revival path, the city has displayed a positive price growth in the recent years. It is reinstating the popularity as one of the prominent locations for real estate in the country. For the third time in a row, it was also ranked as the top Indian city by the Mercer’s Quality of Living rankings 2017.
Several leading developers of Hyderabad, including Prestige Group, Modi Builders Group, Ashoka Developers and Builders Ltd and Dream India Group, among others, are shifting their focus from premium houses to the affordable and mid-priced properties.
Apart from the government policies, the political stability has also played an important role in lifting up the realty market of Hyderabad. After the Telangana state got separated from Andhra Pradesh, the political drift has also contributed towards the revival of the city’s economic conditions.
The demand for both residential and commercial sector has been witnessing a surge. Reports show that several IT and warehousing companies are creating office spaces in Hyderabad. Besides, with the return of IT companies in the city, residential demands, in proximity to the IT hubs, are picking up.
Different locations of the city are becoming preferable among the homebuyers for varied reasons. While South-Hyderabad is considered as one of the best options due to its affordability, areas in the West-Hyderabad are preferred for their proximity to Hitech City and Gachibowli.
An expert from Dream India Group considers locations like Srisailam Highway, Balapur, Adibatla, and Shamshabad, as lucrative investment options in South-Hyderabad for their affordable land parcels.
Another expert from Modi Builders Group is of the opinion that destinations like Kukatpally, Nanakramguda in Financial District, Madhapur, and Kondapur, among others, have the potential to witness strong residential sales drive. These locations make the best option for employees seeking houses in the vicinity of hubs like Hitech City and Gachibowli. Developers are aiming to provide quality features and amenities in the dwellings of these areas.
Hyderabad has been regarded as one of the best cities of India to live in. Over the last couple of years, it has been one of the few cities to display sustained growth in housing sales and new launches. The establishment of metro in the city has further enhanced it as an attractive real estate destination.
With its enormous talent pool, exceptional infrastructure, and growing robustness in its realty markets, Hyderabad is all set to make an evident mark on the Indian real estate sector.