Amidst the long period of political uncertainty over Telangana issue, it was the presence of IT/ITeS industry that kept the real estate market of Hyderabad alive. Now that the issue is over and Hyderabad has been declared to be the common capital of both Andhra Pradesh and Telangana, the real estate sector in the city is expecting a major transformation – not in the short term though.
Property prices in Hyderabad are far less, compared to other metros such as Delhi, Mumbai and Bangalore. As per MagicBricks.com research, the average capital values of residential properties in localities such as Miyapur and Kondapur range in between Rs 2,500-Rs 4,000 per sq ft. Thus, you can expect a good 1,000-sq ft apartment in Rs 25-40 lakh. It is not that these localities are lagging behind or are situated far away from the city centre. They are among the top residential locations in Hyderabad, and enjoy decent physical and social infrastructure.
“In Hyderabad, property prices have moved very slowly as compared to other metros in the country. The buyer sentiment remained low and investors stayed away from the market due to political uncertainty,” says Afaque Ahmed, a city-based realtor.
Perhaps the lack of interest from the investor segment proved to be a blessing in disguise for the end-users. Properties are still affordable and price levels are moving realistically. In fact, as per MagicBricks.com research, the top localities such as Begumpet and Madhapur witnessed a drop of as much as seven per cent in capital values of residential properties, in the Jan-Mar 2013 quarter.
“Presence of active investors is good for real estate developers, but people who wish to buy a home for themselves have to bear the brunt of it. That’s what has happened in other metros where property prices keep rising for no major reason,” says Rajeev Kalra, a property dealer.
Meanwhile, now that the Telangana issues has been sorted out and the city will also be receiving Metro Rail, it will be interesting to observe whether Hyderabad remains an affordable, end-user driven market or becomes an investors’ heaven.
source:- http://content.magicbricks.com/will-property-prices-in-hyderabad-remain-affordable/
Property prices in Hyderabad are far less, compared to other metros such as Delhi, Mumbai and Bangalore. As per MagicBricks.com research, the average capital values of residential properties in localities such as Miyapur and Kondapur range in between Rs 2,500-Rs 4,000 per sq ft. Thus, you can expect a good 1,000-sq ft apartment in Rs 25-40 lakh. It is not that these localities are lagging behind or are situated far away from the city centre. They are among the top residential locations in Hyderabad, and enjoy decent physical and social infrastructure.
“In Hyderabad, property prices have moved very slowly as compared to other metros in the country. The buyer sentiment remained low and investors stayed away from the market due to political uncertainty,” says Afaque Ahmed, a city-based realtor.
Perhaps the lack of interest from the investor segment proved to be a blessing in disguise for the end-users. Properties are still affordable and price levels are moving realistically. In fact, as per MagicBricks.com research, the top localities such as Begumpet and Madhapur witnessed a drop of as much as seven per cent in capital values of residential properties, in the Jan-Mar 2013 quarter.
“Presence of active investors is good for real estate developers, but people who wish to buy a home for themselves have to bear the brunt of it. That’s what has happened in other metros where property prices keep rising for no major reason,” says Rajeev Kalra, a property dealer.
Meanwhile, now that the Telangana issues has been sorted out and the city will also be receiving Metro Rail, it will be interesting to observe whether Hyderabad remains an affordable, end-user driven market or becomes an investors’ heaven.
source:- http://content.magicbricks.com/will-property-prices-in-hyderabad-remain-affordable/
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