Thanks to the much hyped Telangana
division that Hyderabad real estate market managed to remain in news all
through 2013. There is no denying to the fact the creation of a new
state has been seen by both the developers and buyers as an issue of
much importance. Now when the Bill has been given green signal, everyone
is anxious to know in which direction shall the prices go. As per a
report by the research firm Jones Lang LaSalle, the market prices shall
see an appreciation in 2014. The market is heading towards recovery
after facing a long period of stagnation.
The prices to buy property or rent house in Hyderabad
have not budged an inch from their values since 2009. This makes the
city a highly affordable market. But from investors' point of view, it
lacks any major potential. But in 2014, the things are expected to
undergo a change. Currently, even the high-end localities in the city
like Banjara Hills and Jubille Hills have an average per square feet
rates lower than the other top-notch localities of Delhi, Chennai,
Mumbai, or Gurgaon. Even a tier-2 city like Vijaywada has higher psf
values than Hyderabad. This clearly indicates that the city has, so far,
not succeeded in utilizing its potential to its fullest.
Hyderabad property has
a leverage of carrying IT-driven localities, a factor that makes it as
the popular choice for expatriates who wish to settle here. IT industry
has proliferated in areas like Hi-Tech City, Miyapur, Gachibowli, APPA
Junction, Kondapur, and Madhapur. These colonies remain high on demand
for residential properties in the city. In spite of their up-to-the-mark
infrastructure, presence of commercial giants, they haven't seen any
appreciable growth in their rates. According to Jones Lang LaSalle, the
rates are expected to see a marginal increase of about 5%. It has
predicted that market shall burgeon more once the Telangana issue is
over.
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