Why real estate is still good for investment purposes
The pandemic notwithstanding, the outlook of residential property in Hyderabad looks promising if its performance in the entire year, 2020, is something to go by. The real estate market continues to thrive in the City of Nizams as the demand for new homes shows no signs of floundering yet.
1) According to Indian Union Budget 2021-22, an interest exemption of up to INR1.5 lakh for affordable housing was extended until 31 March 2022, which was earlier only applicable up to 31 March 2021. For the uninitiated, affordable houses are residential properties whose value is worth below INR45 lakhs and measures below 60 square meters in the six metropolitan cities of India, including Hyderabad. In smaller cities, affordable homes should not measure over 90 square meters.
2) Apart from that in February 2021, the central bank of the country, the Reserve Bank of India (RBI), continued to hold the interest rates low and left the repo rate unchanged. According to New Indian Express, these two factors are bound to make people living in rented houses opt to buy homes in Indian cities.
Where to buy in Hyderabad
3) Many real estate advisors suggest that people should look to buy homes in areas where physical infrastructure is solid. Besides providing proper water and power supply, these areas need to be close to shopping zones, workplaces, educational institutions, etc., and must be well connected to the other parts of the city through road, rail, or metro facilities. Other amenities, like banks, restaurants, movie halls, will automatically spring up near such zones if they have not already yet.
4) With environment-friendly becoming a buzzword, more aspiring real estate buyers are eyeing properties in areas that have more lung spaces. In fact, many property builders, taking cognizance of this fact, are building apartments and gated communities with independent houses by investing their bit in afforestation and encouraging others to do the same.
As people have also become fitness conscious, playgrounds with badminton, tennis, volleyball courts, mini cricket grounds, swimming pools, jogger’s parks, etc. are being offered by new-age real estate developers in the City of Pearls.
5) Earlier, neighborhoods with good physical infrastructure attracted mostly upmarket home buyers. That concept now has percolated to other people employed in sectors such as IT and BFSI. Since most of them are being sent by their firms abroad to work at the clients’ offices for short periods, these people have been exposed to lifestyles in developed countries and are attempting to replicate the same in Hyderabad and other Indian metros.
Avail assistance before buying
6) Once you narrow down on the property you are buying, it is always recommended that you seek the help of real estate experts who have been studying the developments in the city for the last two to three decades. Conduct a background check on their credentials before hiring them. They will tell you what the pros and cons are in buying property in a particular neighborhood of the city.
7) Most important of all, forms of documentation are property titles. They come in documents known as deeds and contain legitimate information about the ownership of the asset that you are looking to buy. Buyers should ensure that there is absolute clarity in the title and should buy from the genuine owners of that property.
Areas where real estate buyers are heading to?
8) Earlier, Banjara Hills and Jubilee Hills were suburbs with excellent facilities. Now, other neighborhoods like Madhapur, Nanakramguda, Kondapur, Serilingampally, Gachibowli, Nallagandla, Narsingi, and others have followed suit of the erstwhile prime areas of the city by providing excellent physical and social amenities. If you buy in one of these areas and the property is RERA approved you ensure that if you consider selling it, you will definitely be able to sell it for a profit.
Real estate that is value for money
9) Hyderabad has an edge over other metros in terms of affordability. It is one of the most economical markets among India’s top cities. Parcels of land are available in this city at lower costs. This may not remain so forever, with more high-net-worth individuals thronging to this city, realty prices are bound to move northwards.
Why is Hyderabad realty prospering?
10) Before the onset of the millennium, and even until the early 1990s, many people did not think Hyderabad would become a haven for real estate investment. It all changed with developments in information technology. When Microsoft said it was setting up a facility in Telangana’s capital not many could digest this piece of information. Following this behemoth were other IT companies and globally reputed organizations, including Google, Facebook, IBM, the Indian School of Business, Deloitte, IIT, IIIT and so many others. Though IT companies set the trend of opening operation centres in Hyderabad, followed by pharmaceutical companies, institutions of excellence like the Tata Institute of Social Sciences and others across the board believed that Hyderabad was indeed becoming a global city to reckon with and started operating from here.
If you are also looking to buy a residential property in this burgeoning city, contact Nestcon, one of the renowned real estate developers of Hyderabad, for more informed advice.
