Hyderabad best destination to invest in realty
Hyderabad's real estate is now being eyed by businessmen and employees from the Northern States, including Punjab, Delhi, Gujarat and others, with many purchasing flats and lands in and around the city.
Hyderabad: After real estate developers and builders, Hyderabad’s real estate is now being eyed by businessmen and employees from the Northern States, including Punjab, Delhi, Gujarat and others, with many purchasing flats and lands in and around the city.
While businessmen and high-income groups are opting for plots and villas, employees are keen on buying premium 3 BHK flats. The trend of businessmen and employees from other States purchasing flats and properties in and around the city has increased by nearly 15 per cent, especially in the last couple of years.
National Real Estate Development Council (NAREDCO) Telangana Secretary General Vijaya Sai Meka acknowledged the surge in buyers from other cities focusing on Hyderabad.
“It is mainly due to the fast appreciation of property value in Hyderabad. Within a short period, buyers get good returns for their properties compared to other cities,” he said.
Apart from this, maintenance of law and order, good road infrastructure, cosmopolitan culture, education, and lifestyle are some of the other factors that are considered by many before zeroing in on a property. And Hyderabad leads the chart among all metros in delivering these living standards, Vijaya Sai Meka added.
Apart from a faster appreciation of property values, NAREDCO members said affordability was another key factor that draws the attention of many property buyers from other cities to Hyderabad.
Despite being ranked as the best in terms of livability index, office space absorption, prices of both commercial and residential properties in Hyderabad are much lesser than in other metros. This serves as a good investment opportunity for buyers to reap good profits.
In addition to these factors, people from Telangana, who work in other metro cities like Bengaluru, Chennai are now evincing interest in buying properties in Hyderabad.
Prior to Covid-19 pandemic, most software and other sector employees in Telangana preferred purchasing flats and houses in cities where they were working. Now, with work from home and more recently, hybrid modes of functioning, a majority were opting to buy flats and villas in Hyderabad, a NAREDCO member said.
“This gives them the double advantage of staying in their own house and purchasing assets in native cities,” he explained. Hitherto, many had to shell out huge rents in other metros and now they are diverting the same amount towards home loan payments, he added.
