Hyderabad's realty sector set for recovery
Sep 06, 2013
Source : The Times of India

 

HYDERABAD: The spiraling rate of the dollar coupled with modest pricing is likely to attract NRI investment to the city's real estate sector in the near future, said representatives from the industry on Thursday.

In an attempt to allay fears of consumers, members of the Confederation of Real Estate Developers Association of India (CREDAI-AP Chapter), insisted that the market condition had improved post 2012 and is currently on the path to a steady recovery.

"It is true that whenever there has been an unrest owing to the Telangana issue, the industry has slipped into a state of turmoil for a about two to three weeks. But that dip in business has always been temporary. Now that we have a clear picture about the fate of the state in general and the city in particular, things are only likely to look up," said C Sekhar Reddy, national president of the organization.

Reddy claimed that in the last six months, the sector had already started its transition from being a buyer's market to a seller's market. "There are projects that have been launched at a higher price (of over Rs 3,000 per sft) than the earlier prevalent rate of Rs 2,500 (average) in the last few weeks," he added.

However, despite this marginal jump, developers said that property values in the city are still at "rock bottom" (in comparison to other metros in India) and therefore more affordable for consumers. Given Hyderabad's "world-class" infrastructure and other amenities, they said that the local market was the best investment destination at present. "The average price is between Rs 1,700 per sft (only in the outskirts) and Rs 2,500-Rs 3,000 per sft. Clearly, buying property here now would be a wise decision," said S Ram Reddy, the newly appointed president of CREDAI-AP.

Chalking out a two-year roadmap for the confederation that comprises 1,300 members from across the state, its office bearers said that the body would work towards initiating the process of procuring online building permissions, reducing cost of construction through bulk material purchases, enhancing the pool of skilled labourers and compiling data on the availability of built-up space in the city.

Reiterating that the slump in the market, post 2008, was not solely rooted in the local political crisis but the global recession as well, members said that the aforementioned issues have, by and large, faded out and that the real estate prices in Hyderabad are now set for a northward ride.

Latest Realty News

‘NHB data on Hyderabad realty do not reflect ground situation’
Sep 06, 2013
HYDERABAD: The Confederation of Real Estate Developers’ Associations of India (Credai) today said that the recent report by the National Housing Bank on real estate price fall of about 4.5 per cent in Hyderabad does not reflect the actual situation.
AMC plans to build 10,000 additional houses
Sep 03, 2013
AHMADABAD: Urban local bodies across the state are now demanding faster turn-key systems and construction technologies to deliver affordable houses in bulk and in a time-bound manner over the next five years. A seminar on ‘New Construction technology for affodacle housing‘ was organized at the Ahmedabad Management Association (AMA). The seminar was hosted by Ahmedabad Municipal Corporation (AMC).
Integrated building approvals to check graft in Hyderabad
Sep 02, 2013
HYDERABAD: In a bid to bring in transparency, avoid delays and check corruption, the Greater Hyderabad Municipal Corporation (GHMC) has decided to integrate online building approvals with occupancy certificates and property tax assessment.
Realty prices push schools to outskirts of Ahmedabad
Sep 02, 2013
AHMEDABAD: Real estate prices are pushing schools outside the AMC limits. From Bopal to Vaishnodevi Circle, several schools are springing up to cater to the increasing urbanization.
SMR Holdings to invest Rs 1,000 crore in satellite township project
Aug 30, 2013
HYDERABAD:Real estate company, SMR Holdings today announced the launch of a satellite township project close to the IT hub of Hyderabad.
Credai study to assess demand-supply scenario at Hyderabad
Aug 30, 2013
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.
‘Curbs on property investment abroad may boost premium segment in India’
Aug 17, 2013
HYDERABAD: RBI curbs on overseas property investments to protect the rupee seems to be good news for Indian real estate as capital which otherwise would have been diverted abroad will now stay in the country.
RBI move to limit forex outflows could impact overseas property buys
Aug 17, 2013
HYDERABAD: The Reserve Bank of India's move to limit foreign exchange outflows from resident individuals is likely to impact Indians making investments abroad in property and education.
RBI move to limit forex outflows could impact overseas property buys
Aug 16, 2013
HYDERABAD: The Reserve Bank of India's move to limit foreign exchange outflows from resident individuals is likely to impact Indians making investments abroad in property and education.
Top brands to converge at construction, architecture and design summit
Aug 12, 2013
CHENNAI: Construction, Architecture & Interiors, the Build & Design Exhibition 2013, to be organised by Business Line, will showcase prestigious brands from across the globe in Chennai.

Latest Realty News Of State

Realty Talk's