Greater Hyderabad lies in close proximity to Hyderabad, the capital of Andhra Pradesh. Its closeness to the ‘City of Nizams and Nawabs’ Hyderabad definitely proves to be an advantage as it is an important ‘Gateway to the South’.
As Hyderabad grew to be a cosmopolitan city and a prominent IT capital of India, Greater Hyderabad too started gaining attention. This region has seen immense development in a short span of time owing to its ultra-modern planned structure and provision of the basic amenities. As the twin cities of Hyderabad and Secunderabad became known for large scale developments in IT sector, real estate in Hyderabad began to grow by leaps and bounds. The tremendous growth of realty industry left the city congested and choked ultimately shifting the spotlight to nearby cities like Greater Hyderabad.
Greater Hyderabad has a high population like metro cities and the rapid development of its real estate has become instrumental in supporting them. Property development trends follow similar paths in all the cities of India as consumerism patterns remain identical. There has been a swift upsurge in the demand for residential property in Greater Hyderabad chiefly because of better educational and employment opportunities.
Among the favorite residential areas in Greater Hyderabad are Gaddiannaram, Alwal, Uppal Kalan, L.B. Nagar, Rajendranagar, Kapra, Patancheru, Qutubullapur, Serlingampally, Tukkuguda, Malkajgiri and Ramachandrapuram. In the commercial sector, offices of prime enterprises, various shopping complexes, cinema halls, hotels, restaurants, health care centres, etc. have been coming up.
The real estate of Andhra Pradesh is in a very amusing position as property prices keep facing uncertainties about the potential rise and fall. On one hand is the upping of cement prices according to the new budget and on the other is the Telangana agitation. Property costs should ideally fuel up given the rise in cement prices but the disturbances in the state force them down. Adding to the woes of the property dealers is the fact that in spite of the fresh exit of global recession from the country, property prices can’t be hiked up. Realty prices have already been low from past one year and just when the good times for property agents and brokers arrived, Telangana conflicts delayed them further. But, this situation of low real estate prices in Greater Hyderabad is temporary as they are soon expected to touch the skies. The primary reasons for shooting up of realty prices in the city would be:
Property developers are aware of the fact that buying capacity or the disposable incomes of the consumers have grown. After the recovery from the depressed period of global recession, investors are showing more interest in buying property and so, the demand has increased. This growth in demand will lead to a supply deficit ultimately raising the prices.
The cement prices have risen up further in wake of the new budget announced by the Finance Minister, Pranab Mukherjee. Realty developers will now construct apartments and building at a higher cost, thus, elevating their allotment costs. Clearly, realty prices are all set to sky rocket soon.
As soon as Telangana issue gets resolved, investors who have been deferring their purchases would throng the city. The sudden rush for Greater Hyderabad property would naturally result in shoving up the prices. Also, anew developments would start afresh, thereby, attracting more buyers to invest in this neighboring city of the Nawabs.
Apparently, it is the best time to invest in Greater Hyderabad property sector as prices can bolster up anytime. You can get the cheapest deals in the current times like never before.