Independent houses buzzing in Hyderabad
Hyderabad: A large independent house with a beautiful front space and a bigger area which one can call their own is the kind of property that a majority of property buyers in Hyderabad are dreaming of. While a few years ago having an apartment with two bedrooms or even three bedrooms for a larger family […]
Hyderabad: A large independent house with a beautiful front space and a bigger area which one can call their own is the kind of property that a majority of property buyers in Hyderabad are dreaming of. While a few years ago having an apartment with two bedrooms or even three bedrooms for a larger family was considered good enough, now buyers are keen on having a land of their own with a house that is constructed as per their desire and needs.
If the pandemic accelerated the process of desiring a larger home, the growth of infrastructure, higher levels of income, and the growing real estate in the city are the other factors pushing this growth. According to a report by NoBroker.com, Hyderabad has the maximum buyers of independent houses with 59 per cent of the respondents answering in affirmative. Meanwhile, society flats’ share stood at 29 per cent and plot was preferred by 12 per cent of the respondents.
“There is an increase in investment from people outside of Hyderabad investing in the city. Low prices of properties along with growing infrastructure facilities are making the city the preferred choice for real estate investment. Telangana has shown its prowess in medical infrastructure through various vaccination drives and in terms of safety, so this is also encouraging people to look at the city. Now, when people start investing in a city outside of their native place, they look to buy land and an independent house makes for a good investment decision,” says Kalisetti Naidu, real estate space analyst, Yards and Feet Property Consultants.
Naidu also mentions that the State has seen an increase of 34 per cent in office space and 22 per cent in industrial space, which is manufacturing units. This means that people who get employed in manufacturing units prefer a mid-range home, but the office space growth is creating a buzz for high-end buyers – which is buyers who are looking at the property over Rs 4 crore.
The new State policies like the Integrated Townships are also paving way for the availability of land at a lower price thus pushing the growth for independent houses. Along with this, the new record approval of HMDA lands and RERA have pushed developers to increase plotting and this has, in turn, made Hyderabad a buzzing city for larger homes.
“Areas like Shadnagar, Kottur, and beyond are buzzing with lands that are available at affordable prices. For the mid-range segment, people are looking at the Karimnagar highway and the Warangal highway,” Naidu informs.
Not just property owners but even tenants are looking at independent houses which shows a tectonic shift in the mindset of people towards bigger and private homes. According to the same report by NoBroker.com, 43 per cent of tenants prefer an independent house while about 30 per cent of them prefer an independent floor in an apartment building. Meanwhile, only 22 per cent of the respondents sought a society flat and only 5 per cent wanted to stay in a co-living space.
“When asked about why the tenants are looking at moving home, about 31 per cent of them answered that they are looking for a bigger house, while 25 per cent of them had moved to a different workplace,” the report says.
89% of Hyderabad buyers agree that property purchase is the best investment option
59% of Hyderabad buyers prefer independent houses
What factors do tenants in Hyderabad look at?
79% — facilities
31% — distance from places of frequent travel
48% — safety
40% — water supply
48% — lower rent
31% — proximity to public transport
Accommodation preferred by tenants
22% — society flats
30% — independent floor
43% — independent house
5% — co-living
Reasons for renting a new place?
31% — need a bigger house
25% — moved to a different workplace
17% — lower rent
8% — uncooperative landlord
19% — working from home
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