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Residential Real estate in Hyderabad
Residential Real estate in Hyderabad

Hyderabad is observed to be a price conscious market. The city witnessed some improvement over the past few decades but the market is yet to pick up in terms of demand. Actually, we understand it as a very conservative market. The year 2015 has been sluggish and there was least demand.  At present, the city is the cheapest real estate market among the TIER-I cities and offers scope for end-use investments. Affordability of housing sector in Hyderabad has been one of the key factors which has pushed the market sentiment in an optimistic manner.  

Scenario of the year 2015

Residential Real estate in Hyderabad is mostly dominated by the end - users.  It has been observed that the absorption rate during 2015 was low as consumers continued with a wait and watch policy. Reports reveal that the Hyderabad market has performed much better than other TIER-I cities. It stands at a much more comfortable unsold stock situation.

Areas such as Gachibowli, Kondapur, Miyapur and Manikonda continued to promote Affordable housing in Hyderabad while Banjara Hills and Hitech City led the premium segment of the city.

But as the real estate market stepped in the year 2016, consumer sentiments were bullish with increasing demand of home buyers. The housing demand is also likely to be concentrated towards the mid-segment and high-end projects in emerging or peripheral neighborhoods of the city.

 

The infrastructure development in the city, such as the under construction Hyderabad Metro Rail project have played an instrumental role in accelerating the demand of Residential Real estate in Hyderabad. It continued to attract more and more investor interest for property. “The Metro Rail project plans to connect the city’s important residential and commercial hubs across parallel stretches. The key objective of this project is to decongest road traffic and reduce commuting time within the city”.

The commercial market in Hyderabad also witnessed a boom.  The year picked up momentum with increased pre-commitments, expansions and relocations as compared to the past few years. Many blue chip companies and giant players shifted their focus to this city with an intention to set up their base in Hyderabad.

It was observed that residential markets took time to pick up, as end-users were still cautiously optimistic and were evaluating options more carefully. Pre-bifurcation uncertainty had impacted the market in late 2013 and 2014 but project launches increased in 2015. Projects close to completion in the western quadrant of the city have attracted a good demand.  The western corridor emerged as a promising destination with a spate of promising residential projects.  The year 2016 was flooded with the waves of optimism and positivity in the Hyderabad residential real estate market. Residential market witnessed a boom on the back of infrastructure improvements, lower interest rates, positive job market and most importantly, lower prices as compared to other cities.

Lifestyle quotient of the city with plenty of fun and entertainment avenues; robust social infrastructure with hospitals, schools and colleges; rapid infrastructure development and not to forget the proactive government, are the major factors that have led to the fast revival and boom of Residential Real estate in Hyderabad.