The Spurt in Real Estate Potential of Hyderabad

26-8-2014

The real estate scenario in Hyderabad and its surrounding regions are poised for a positive change. According to latest reports, property transactions in Telangana region is reportedly showing positive signs indicated by a 15 per cent growth in terms of revenue from stamps and registrations during the last three months. This is attributed to be state government’s plans for announcing plans to develop Hyderabad as a truly global city.
Realtors are expecting a 50 per cent hike in the real estate market over a period of six to eight months from now. Hyderabad and Ranga Reddy districts, that constitute Greater Hyderabad, have earned the highest revenues by means of stamps & registration in Telangana.
According to reports, the revenues from Ranga Reddy and Hyderabad districts in June 2014 were to the tune of Rs 270 crore and Rs 115 crore respectively. Property and real estate bodies like TREDA and Credai are expecting a correction in terms of prices for the city of Hyderabad on par with other metros such as Chennai and Bengaluru where the property prices are reported to be much more inspite of similar infrastructure facilities such as international airport, ORR etc. The Confederation of Real Estate Developers Association of India (Credai) has also stated that the real estate market has witnessed a growth by 10 per cent over last three months, courtesy restoration of political stability in the city.
Mr C. Shekar Reddy, national president, Credai has stated that the property prices in Hyderabad may have hit bottom over the last couple of few years, but over the last three months, an increase has been observed and they expect the prices to boost the demand in the next six to eight months. This is mainly attributed to factors such as increase in input costs, taxation as well as inflation and when the correction between Hyderabad and other cities such as Chennai and Bengaluru happens, the prices are expected to go on an upward spiral.
According to Credai chief with world-class infrastructure facilities such as international airport, Outer Ring Road and Metro, Hyderabad is at the forefront of its emergence as global city. With the current government embarking on ambitious plans to improve the image of Brand Hyderabad, creating a new Master Plan, proposal to develop the Information Technology and Investment Region (ITIR), special clusters and satellite townships, followed by another ring road beyond the existing ORR, these are all being hailed as a right step in the right direction, giving a perfect impetus and resulting in a spurt for real estate potential in Hyderabad.

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