The demand for affordable housing in Telangana is increasing.
Property sales in Hyderabad increased by 277% from Jan 2018 to Sep 2018 among seven major markets for residential housing in India such as National Capital Region, Mumbai, Bengaluru, Chennai, Pune, and Kolkata.
According to JLL India, the new launches in Hyderabad increased by 82% in the first nine months.
What is Driving Hyderabad’s Real Estate Boom?
- Government policies such as RERA, GST, Affordable housing schemes, etc. have been implemented to improve the real estate sector in Hyderabad.
- The policies create a business-friendly environment uplift Hyderabad’s status as an excellent investment destination.
Some of the factors that provide a thrust to Hyderabad’s real estate boom are:
The Telangana government initiatives to develop Hyderabad’s infrastructure include:
- Jawaharlal Nehru Outer Ring Road (ORR)
- Metro rail project
- Widening of roads
- Construction of flyovers
- Foot over bridges on busy roads
- Air-conditioned bus stops
Presence of Multinational Companies
The areas such as Gachibowli, Kondapur, Hitec City, and Nanakramguda are located near to IT companies like Infosys, Wipro, Amazon, Microsoft, Apple, Google etc. To reduce commute time, most people prefer to buy houses near their workplace.
To cater to the demand for houses near the workplaces, many reputed builders are launching new properties in Hyderabad with excellent facilities.
Affordable Property Prices
Property rates in Hyderabad are affordable as compared to other metro cities in the country.
The areas like Kukatpally, Miyapur, Bachupally, Pragathi Nagar, Kondapur, and Gajularamaram offer excellent investment opportunities.
If you want to buy a house in Hyderabad, take a look at properties in these areas as they are affordable.
By: Shailaja K
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