Hyderabad on a fast track

The city has been taking bigger strides towards progress and is continuing to grow, be it in the realm of realty or mega projects like SRDP, Metro Rail or BRTS, writes T Lalith Singh

By Author  |  Published: 18th Aug 2019  12:55 amUpdated: 18th Aug 2019  6:26 pm
Photo: Hrudayanand

Hyderabad is evolving. And the continuing metamorphosis is constantly and engagingly changing the city’s outline and skyline.

From its ranking among the most laidback cities to a pulsating metropolis that spread its wings in a wide and varied developmental aspect to usher in a new era of development, Hyderabad’s march of progress has been steady and well sustained in the last few years.

Not surprisingly, having garnered global attention and winning accolades and high rankings, Hyderabad has become a dear destination for real estate. From those seeking to put together a nest of their own, those keen on making investments in property to the commercial spaces that fly off the shelves, the city is where most have started to look to.

Many a global tech giant and reputed names among educational institutions, medicare facilities to hospitality and entertainment industry already boast of Hyderabad as their address. A series of mega projects, whether it is the Strategic Road Development Plan or Metro Rail services or proposals such as Bus Rapid Transit System are adding a new sheen to the city.

The city’s realty has been spreading in ever-widening circles embracing newer areas into its fold of growth. The once sleepy outskirts are now bustling and as new residential areas spring up, come in infrastructure and amenities. And the rush to own a slice of the growth either in the form of an apartment flat, house, villa or a commercial space continues.

For some, the question remains: is this the right time to buy property? Skeptics do cite reasons and the die-hard optimists always seek to count on the possibilities of prices dropping down. Seniors in the realty sector point out that ‘now’ is always the right time.

“When one wants to or can afford to buy property, then ‘that’ is the right time to buy,” avers one seasoned developer.

Most in the industry rule out the possibility of property prices hitting a plateau now or in future. Hyderabad property prices have been the lowest and most affordable compared to most other metro cities in the country.

“Property prices are always commensurate with the growth of a location or a city. Hyderabad is progressing and property prices will only grow,” argues another.

The prices in Hyderabad did leap unchecked early last decade during a reality boom, but now in retrospect, most builders and developers in the city concede it as an aberration. A developer, in fact, describes it as ‘unscientific’. The prices then escalated all of a sudden fuelled by investors and fly by night operators who wanted to make a quick buck.

That trend got checked in the last few years and after undergoing corrections to get rid of that unscientific rise, prices have now stabilized and development is even.

From Nagole to Nallagandla and Miyapur and beyond areas, vast expanses can be seen getting dotted with rising structures. Metro Rail propelled it further and as the government draws more plans to venture the project into untapped areas and head to and beyond Shamshabad, more locations are poised to grow.

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