According to many in the know, property in Hyderabad is at a point where a positive change in the national economy can lead to rapid appreciation in the price of real estate in the city. Already Hyderabad has bested cities such as Bangalore and Chennai in attracting large multinationals allowing them to set up offices in the city and since the price of real estate in Hyderabad is low, an upward trend in the nation’s economy will have a greater impact on the price of property in Hyderabad than on property in other cities. These factors make real estate in Hyderabad more attractive for investors and end users alike than real estate in other Indian cities.
Apartments in Hyderabad are Relatively Inexpensive
Apartments in North West Hyderabad are priced at 3,000 to 3,400 rupees per square foot and villas in the same region are priced at 3,900 to 4,100 rupees per square foot. Hence nearly ninety percent of the projects in the region are priced within the affordable range and luxury property in Hyderabad in this region is priced between 8,700 to 9,000 rupees per square foot. Notably, the luxury apartments in this region are found in Kukatpally and Kondapur.
Emergence from Strife and Coveted by Google and Amazon
Now that Hyderabad has emerged successfully from the political instability due to which it was its status was uncertain, the authorities in Hyderabad have taken steps to bring about greater ease of doing business in Information Technology and manufacturing. The uncertainty which led to a fall in the price of real estate in Hyderabad and increased the number of unsold flats is passed and experts believe that there are great times ahead for Hyderabad and in particular for real estate in Hyderabad. Actions taken by the authorities in Hyderabad have led companies such as Google and Amazon to take advantage of rosier trends in Hyderabad by establishing large offices in the city.
Fewer Restrictions for Builders in Hyderabad
Chief among the reasons for affordable homes in Hyderabad is the fact that builders in Hyderabad are able to build higher than they can in other large metros in India. This is the result of the state government’s unstipulated criteria for Floor Space Index in the city. Thus builders and developers in Hyderabad are able to build buildings as high as they possibly can which means that land is used more efficiently as buildings are taller. Naturally, this leads to the creation of a larger number of residential projects in Hyderabad in a smaller area than is possible in other large metros in the country. More apartments in Hyderabad means a lower price for such apartments since the more of something there is, the cheaper is the price of such an item.
Other advantages Hyderabad enjoys is that there are few limitations on the built-up area in the city expect in the case of setbacks which state how far a building must be from a road, river, or any other physical structure or obstruction. Many experts believe that if setbacks in the city are relaxed the price of property in Hyderabad will rise even further.