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Property demand picks up in Hyderabad

Property demand picks up in Hyderabad

Property Management Services Hyderabad

The real estate market of Hyderabad is sensitive in terms of property prices. Buyers of the city lean towards reasonably priced homes and the developer community is aware of this inclination. Housing options are plentiful to cater to both investors and end-users.

Other cities such as NewDelhi-NCR, Mumbai, Bengaluru and Chennai are mostly catering to the mid and the mid to higher segment buyers. The New Year seems to be working well for the real estate sector. Though it is too early to comment, but some experts have mentioned that transactions seem to have picked up.

All property types in the city seem to be in moderate demand. Interested buyers from outside the city and overseas are increasingly preferring Hyderabad to other southern cities because of its affordable prices. “Currently, it is a good time to invest in Hyderabad due to its affordable price segments.

The property valuations of Hyderabad are good as compared to other metros. The demand is moderate, particularly in the villas category. Capital appreciation is expected in this category if an individual is thinking to invest now,” says a real-estate developer who is predominantly into construction of villas.

Projects and home preference

The availability of villas in the market is also high. Over 4000 villas are listed on a real estate portal currently and over 190 new projects are under construction. “Post the emergence of Telangana state, the real estate market of Hyderabad has finally started picking up and many are showing interest towards residential houses and independent villas,” says Venu Gopal, consultant, Shriram Properties.

In the villas category, buyers are mostly salaried employees in MNCs or IT companies with a good pay package. The affordability factor helps this section of buyers to invest in villas. “Plots, the once preferred category in Hyderabad, have registered a low demand in the past two to three months. Though enquiries for plots are still coming, very few turn into actual transactions,” adds Gopal.

Where to find villas?

Currently, East Hyderabad has the highest independent housing choices available within 50 lakh. Areas such as Rajiv Nagar Colony, Dammaiguda, Vidya Nagar, Dilsukh Nagar, Boduppal and Uppal are some options for home buyers preferring villas in the city. These properties are available in size ranges of 1000-2000 sq ft. A few apartments are also sized over 2000 sq ft.

Adibatla, located in South Hyderabad, offers independent houses and villas in various price ranges. Independent villas are available for 30-60 lakh with sizes of 1500-2000 sq ft. The locality is a part of the Information Technology Investment Region (ITIR) and thus witnesses majority demand from the IT professionals.

At present, areas in North Hyderabad such as Madhapur, Gachibowli, Miyapur, Narsingi and Bachupally are witnessing a rise in the sale of villas. In Madhapur, the price range of 4BHK villas is 2-4 crore and above, while the size range is 3500-5000 sq ft. You can also find ready-to-move-in properties here.

In Gachibowli, near Hitec City, the size range for 4BHK units is the same as in Madhapur, but the price range is wider at Rs 1-5 crore and above. Miyapur is another area that offers 4BHK villas on rent at low prices. One can rent a 4BHK villa with an area between 2500-3000 sq ft for 20,000-35,000 per month. Though on the outskirts, the area is well-developed and has several schools, hospitals, restaurants and banks within the radius of 4-5 km.

Interestingly, West Hyderabad is offering quality constructions at expensive rates.

Surbhi Gupta and Namrata Roy, Times Property, The Times of India, Hyderabad