With vast land options, Hyderabad offers everyone their equal share of luxury villas, independent homes, apartments and affordable houses which suits to everyone taste and budget.
As the property prices are never stable enough, it is always good to invest as earlier as possible in the real estate business. Real estate is one thing which never fails its investors in returning a handsome amount in future.
Want to find all the best properties for sale in Hyderabad at affordable prices? The propertyadviser team, being a pioneer in the real estate data directory creation, has had helped a lot of home buyers with accurate real estate information to make their home vision come true.
Hyderabad with its competitive property pricing, increase in commercial activities, massive infrastructural development, government projects there is no other place like it to get an excellent financial return.
Sensing the growth in residential real estate, a lot of top IT companies has had invested in Hyderabad, which showed a significant impact on Hyderabad’s real estate.
Unlike other cities, Hyderabad property prices don’t startle its investors. As the city has a vast scope to develop furthermore, it still offers the best places to reside at affordable costs. With huge infrastructural development, competitive property pricing when compared with other metropolitan cities like Bangalore, Delhi, Mumbai, etc.
But, does the real estate trend continue to increase in 2019 as well? With the emerging economy and a rise in GDP, the real estate is not going down any time soon.
Let’s look at how real estate performed from last year and the factors that promote the growth of real estate in 2019
Infrastructural Developments in 2018
In 2018 Hyderabad real estate has made a massive comeback with many major infrastructural developments.
The outer ring road constructed in Hyderabad has proven to render a multi-dimensional stretch to other places.
Gachibowli, Financial district, and Hi-tech have become a commercial space with major IT companies.
The massive extension of Metro-rail projects have been done
Hyderabad real estate market increased by 30% in the residential sector.
In 2018 foreign investments has risen, making Hyderabad as the leading investment destination in south India.
Telangana RERA has launched its online portal to regulate hassle-free online facilities for property buyers and sellers.
Telangana RERA Impact
RERA aims to promote the real estate sector by ensuring the sale of the plots, apartments or buildings are made efficiently and transparently. The Telangana RERA rules notified by the Telangana Government is called the Telangana State Real Estate (Regulation and Development) Rules, 2017.
On September 2018 the state government stated that all builders who acquired permissions for their projects on or after January 1, 2017, must register their plans to avoid any penalties. The state government stated that builders should credit 70% of the total amount in the bank account and must utilise the amount for the construction of the project.
One of the significant moves budget 2019 highlights, unveiled is an exemption of tax for individuals with a 5 lakh annual income. Indian union budget 2019, disclosed to extend a helping hand to property owners.
The finance minister had proposed that landowners can enjoy the benefits of self-occupied properties up to two residencies. No notional rent will be payable on the second house. Under section 80-IBA, the government of India announced an extension of benefits for all housing projects for up to one year to make the housing dream come true to all citizens.
Unsold Property Reduced
Comparatively, Hyderabad offers the best affordable properties in all metropolitan cities in India. For the past few years, the unsold properties in Hyderabad have declined at an overwhelming rate of 29% approximately. Property Sales have been significantly increased by 16% over the previous year with 18,630 units sold in 2018.
Positive Effect of GST on Buyers
Real estate is one of the significant contributors to the Indian GDP. In terms of employment actual state stands at the second position after IT industries. Until GST came into the big picture, home buyers used to pay Value Added Tax, Service Tax, Registration charges & Stamp duty on purchase of properties under construction properties.
But, since the government imposed GST, they are needed to pay only 12% (a single fixed rate) on under construction projects. And GST is not applicable on completed or ready to sale projects.
In the latest GST 33rd council meeting, The GST Council, headed by the Finance Minister Arun Jaitley, announced that the developers could decide whether they want to pay high-priced rates on raw materials with input tax credits (ITC) or fewer charges for under-construction projects without any added benefits.
There is no doubt that the Hyderabad real estate market is booming. So, if you want to stay ahead in this rat-race its best to invest in advance. Have a desire to reside in Hyderabad? What are you waiting for? Get in touch with our propertyadviser team, and know about the best apartments for sale in Hyderabad to find your ideal home in this affordable metropolitan city.
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