Good days continue for Hyderabad’s realty
Bucking the usual trend of witnessing a slump during elections, the real estate sector in the city is robust and is continuing its good run, that too, despite an escalation in prices, according to those in the sector. Generally, before any elections, investors are apprehensive about the formation of a new government, especially with regard to stability. Such factors influence investors in making a final decision. But that is not the case this time in the city. There is a sense of confidence among investors about the ensuing elections and most are hoping things will remain stable and that their investments will bring in good returns for them, says Telangana Builders Federations Secretary J. Venkat Reddy. Echoing the same views, C Shekar Reddy, convenor – Infra, Real Estate and Smart Cities, CII – Telangana, says there is no pressure on the investors and they are not worried about the elections. Business is continuing as usual as there is no sense of panic among both buyers and sellers. Bookings and transactions are continuing with the same frequency as was the case a couple of years ago. This was evident at the Telangana Real Estate Developers Association’s Property Show held a few days ago where the footfalls were very encouraging, he says. Another striking aspect is that despite the prices escalating considerably, it is not turning into a deterrent for investors in buying apartments or villas. Depending on the location and type of ventures and amenities provided, prices of apartments in the city are ranging from Rs.4,000 per sq.ft to Rs.10,000 sq.ft. Land prices have shot up and eventually this was adding to the cost of apartments or villas. In addition to this, labour and material costs have also increased. “Despite the price revision, Hyderabad is still the best place to invest as prices are much cheaper, compared to the other major cities like Bengaluru, Chennai and Mumbai, which are saturated,” adds Reddy. In addition to this, most are opting for investing in land or buying an apartment over deposits in banks and other financial institutions.
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