Hot topic: What is the future of Hyderabad real estate?
The buzz over real estate prospects in Hyderabad gathered steam as TDP chief and Andhra Pradesh CM designate N Chandrababu Naidu declared Amaravathi as the State capital.
Hyderabad: The future of the real estate sector, which is witnessing a lean period in Telangana, especially in Hyderabad, has become a hot topic in different circles following the political developments in the neighbouring State of Andhra Pradesh.
With Telugu Desam chief and AP Chief Minister designate N Chandrababu Naidu declaring Amaravathi as the State capital, the buzz over real estate prospects in Hyderabad gathered steam on Tuesday. Many feel that the current slump could turn worse, with prices here standing a chance to fall.
Balaji, an X user said: “Rates in Hyderabad are far beyond the reach for middle class to invest. Correction should happen whereas in AP one can research and get a good deal. Entering with a good price point is the key..”
Viswa, another X user said: “People invest in the areas where they can get higher returns for next 2-3 years… Amaravathi area has that opportunity. Major correction will be there in Hyderabad Real Estate…”
Echoing a similar opinion, Abhi, another X user said “Neopolis is heart of the city? The thing is Hyderabad already has many commercial properties in Gachibowli and Nanakramguda, which are ready to occupy but Amaravathi is different.. there will be exponential growth for initial investors, and Hyderabad Real estate is already saturated..”
Amidst these speculations and debates, CREDAI however feels Hyderabad would continue to excel in the real estate sector. A CREDAI member said there definitely would be buzz from the neighbouring State. A few Andhra origin investors would try to liquidate and may make some investments but that should not be a problem, he said.
“Hyderabad was never a competition to any city, it has its own identity and offers diverse opportunities. When HITEC City was constructed, real estate did not spur overnight, it grew steadily following infrastructure development and other factors,” he pointed out.
“Irrespective of positive or negative, it will take at least three years for the impact to be felt. Meanwhile, the State government here should ensure Hyderabad’s image does not suffer a dent,” he added.
