Can 2015 be the year of recovery for real estate market in Hyderabad? Analysts believe that post-bifurcation and formation of a stable government in Telangana State and at the Centre in 2014 should pave the way for the sector to recover in Hyderabad.
In fact, a December-2014 Pan Indian real estate survey of Indiaproperty.com in Hyderabad, Delhi NCR, Mumbai, Chennai and Bangalore says that “Everybody wanted a change and 2014 saw the formation of new the governments. Many impact areas such as real estate, stock markets, fuel and gold prices were buoyed by positive sentiments. These changes paved way for 2015 which is expected to be the year of recovery”.
The survey says that a major buying trend that can be seen in the real estate industry, include high proportion of end-users looking for mid-segment properties, buyers giving importance to infrastructure, presence of public transport and security before deciding the locality. Nearly 64 per cent of prospective buyers who participated in the survey in Hyderabad have expressed an increase in confidence in real estate.
The top localities that have generated a lot of interest among buyers in Hyderabad are Uppal, Chandanagar, Gachibowli, Kondapur, Kukatpally, Manikonda and Miyapur. Close to 78 per cent of the respondents contacted in Hyderabad during the survey were looking for a property for end-use and 60 per cent of buyers are first time home buyers.
When it comes to purchasing property, apartments continue to be the most popular choice among buyers in Hyderabad and elsewhere. More and more property seekers are also looking for affordable housing. Demand for properties under Rs. 30 lakh has increased in most of the cities across India. Close to 44 per cent of the buyers in Hyderabad prefer properties below Rs. 30 lakh. Only 27 per cent of persons in the survey were looking to invest on land in Hyderabad.
The real estate survey points out that “A stable government brings in hope for development in the Country.
And if the government puts infrastructure and housing for all amongst its list of main agendas, the confidence among buyers on the real estate sector is bound to increase.
Sixty-four per cent of buyers in Hyderabad and Delhi NCR who purchased a property in 2014 felt the same”. According to the survey, buyers in Hyderabad and other top cities were also looking beyond simply buying a home.
“Prospective buyers take into consideration a number of aspects before finalising their property purchase. Infrastructure like roads, availability of public transport, security and scope of future price appreciation in the locality are some of the trending parameters in all the Indian cities,” the real estate survey said.
