After the big slowdown in 2014, Hyderabad Real Estate market has been growing at a steady clip with the property prices showing a marked increase on a year-on-year basis. According to a market survey report, while the overall home sales in India’s nine premier property markets declined by 11% in the quarter ending June, 2019 on a Y-O-Y basis, Hyderabad bucked the trend by registering an impressive 10% growth in home sales. At the same time between June 2018-2019, inventory backlog declined by 42%, said to be the highest ever recorded in Hyderabad.
During the same period, prominent Real Estate builder and developer in Hyderabad, Fortune Builders and Developers, was making significant inroads in the realty market with its high-class residential projects in Hyderabad including quality apartments in Marredpally; apartments in Whitefield; apartments in ECIL; and several residential projects in Kondapur, residential projects in Banjara Hills, residential projects in Begumpet and many more.
WHAT KEEPS HYDERABAD REALTY AFLOAT?
When many Indian cities are experiencing a slowdown in the real estate market, Hyderabad city still manages to keep going at a steady pace, with a 30% increase in the residential sector.
Market analysts attribute this trend to the following reasons:
- AFFORDABLE PRICING: Property prices in Hyderabad are comparatively steady and moderate when compared to those in other cities. Thanks to the vast land options that Hyderabad possesses, customers often get the best places to reside in, at affordable rates.
- QUALITY INFRASTRUCTURE DEVELOPMENT: During the past few years, Hyderabad has seen several infrastructure developments. Some major ones have been:
– Outer Ring Road which offers a multi-dimensional stretch to other places in and around the city;
– Massive overhaul and up-gradation of Metro Rail projects across the city;
– Healthy foreign investments making Hyderabad, the number one destination for investments in South India;
– The Massive growth of Gachibowli’s Financial District leading to an influx of major IT companies. This has led to a spurt in the areas in and around Gachibowli and Hitech city becoming a major commercial space; and so on.
- POSITIVE EFFECTS OF GST ON BUYERS: GST has been a big boon to buyers. For instance, homebuyers earlier used to pay separately, Value Added Tax, Service Tax, Registration Charges, & Stamp Duty on purchase of properties under construction properties. But now under the new GST rules, the buyers are paying only 12% (a single fixed rate) on under-construction projects, while no payment is applicable on completed or ready-to-sale projects.
- RERA IMPACT: Introduction of RERA in 2017 by the TELANGANA GOVERNMENT through online portal facilitating hassle-free online transactions to property buyers and sellers, has helped to vigorously promote the REAL ESTATE sector. End-result has been efficient and transparent processing of plots, apartments or buildings. Besides, RERA has also made it mandatory for every builder to credit 70% of the total amount in the bank account and use the same for their project’s construction. Finally, RERA also facilitates smooth registration of projects, avoiding the danger of penalties.
Hyderabad city provides a good quality of life when compared to other Indian cities. Mercer’s Quality of Living survey has ranked Hyderabad at 143, the best Indian city to live in. Further, as per a report compiled by IQAir AirVisual, Hyderabad is comparatively cleaner than most mega Indian cities.
In the real estate sector, leading builders and developers in Hyderabad, Fortune Builders & Developers, has built up a formidable reputation with a solid portfolio of landmark residential projects in Hyderabad’s prime locations; plots in Hyderabad; and above all, several valued commercial property Hyderabad. Working alongside prominent architects and interior designers in Hyderabad, Fortune Builders & Developers has built many classic building landmarks, fuelled by creativity, craftsmanship, and comfort value with detailing that assures secure living for inhabitants.
Hyderabad city has seen a 17% rise in property prices, attributed to its reputation as an affordable destination compared to other excessive overvalued cities in India which as per market reports are on the way down, rate-wise. With several positive factors working in its favour,
Hyderabad remains by far the best destination in India today to invest in advance in real estate properties.