HYDERABAD: The Confederation of Real Estate Developers’ Associations of India (Credai) Andhra Pradesh Chapter is commissioning a study to assess the demand-supply situation in the real estate sector in the rapidly expanding metropolis of Hyderabad.
The Chapter has invited expression of interest from consultants such as CBRE, Jones Lang Lasalle, Ernst & Young and Cushman & Wakefield and couple of others to facilitate the study. The idea is to assess the current demand supply situation, the status of various projects, including pending projects and those under completion, S. Ram Reddy, President of Credai Andhra Pradesh said.
“Once the consultant is chosen, we will provide them access to various agencies in Hyderabad, including Greater Hyderabad Municipal Corporation, Hyderabad Metropolitan Development Authority, local administration in the neighbouring areas of Hyderabad, Government departments including stamps and registration, so that they will be able to assess the ground realities,” he said.
There have been several perceptions about the demand-supply situation in Hyderabad. But the ground realities are different. In fact, the supply is less than the demand. But what is missing is the speculative buying which was rampant before the 2007-08 realty crash. The speculative buying was responsible for price hikes in the sector. This is leading to different perception among general public and those seeking to buy property, he said.
“Therefore, the study will seek to provide insights into the market, pricing patterns and the available stock,” he said.