Hyderabad
The state of Andhra Pradesh may be mired in political controversy aggravated further by the continuing Telangana imbroglio but the uncertainty also offers an ideal opportunity for real estate investors to own their dream homes at competitive prices. If the trend in the number of enquiries for residential property over the six month period is any indication across micro markets, there is a growing realisation among prospective buyers that the time to enter the market is now as good times do not last longer.
In the midst of lesser number of new residential projects and the prices remaining steady, existing stocks are getting sold out, according to market sources. There has been a spurt in the overall quantum of home loans disbursed by leading institutions in the city, a clear indication of the improvement in home sales reported by many developers across the city. On an average Rs 800 – 900 crore worth home loans are being disbursed every month in and around the city.
According to industry sources, there has been an increase in the number of enquiries for apartments both for rentals and outright buying across all micro markets. Even though land and apartment prices have moved north in the past six months, apartments at prime locations in the city are still offered at Rs 6,500 – 7,000 per sqft. While retail rentals are quoted at Rs 120 per sq ft per month for ground floor, it varies from Rs 50 – 90 per sq ft per month for upper floors.
Residential property prices are stable and in some areas inching high due to demand exceeding supply levels. “The valuations are attractive today across most micro markets in Hyderabad for any medium-term to long-term investors”, said Aju Thomas, President, APRA. In the midst of limited projects being launched, existing stocks are getting sold and once the market sentiment improves, it would go north, feel property consultants monitoring the price movements of residential property in the city.
Even high-end units are being offered at competitive prices. In areas like Kompally where improved connectivity levels have reduced the commuting time, built 4 BHK villas are offered at Rs 1.2 crore and above with amenities like swimming pool, sprawling garden area, landscaping, servant quarters, etc.
On the commercial front, rentals are up in Hi-tech city areas due to supply constraints including in non-SEZ buildings and the next option for corporates is Gachibowli.
On the commercial front, rentals are up in Hi-tech city areas due to supply constraints including in non-SEZ buildings and the next option for corporates is Gachibowli.