HYDERABAD: Property prices in Hyderabad have remained subdued for far too long and there is a potential for upside once the Telangana statehood issue settles down, according to Credai, the real estate apex body.
While the input costs have continued to go up making development of a new property costlier by about 30 per cent, the prices in Hyderabad in particular have remained stable for several quarters putting severe pressure on builders, S.Ram Reddy, Secretary General, Credai Hyderabad said.
Addressing a press conference to announce Credai Hyderabad property show to be hosted here during February 28 to March 2, he said that more than 100 properties, all from the members of Credai will be displayed at the event so that they get a platform to interact with developers, bankers and other vendors.
N.Jaiveer Reddy, President, Credai Hyderabad, said Hyderabad has witnessed rapid urbanisation with over 8 million people inhabiting the city and is on the threshold of an exciting phase of development. The city is poised to witness tremendous growth in the next few years.
The strong infrastructure already developed, such as the outer ring road, radial ring roads and new townships that will come up along these areas will attract more buyers to new locations, speakers at the conference said.
Ram Reddy said Hyderabad has seen a gradual and certain increase in residential demand and absorption over the past few years. Given the current demand and supply scenario in the city, the property show will serve as an ideal platform for potential buyers, he said.