It is more than an year since the real estate scene has been real bad in Hyderabad, the credit for that goes to the Telangana chaos. Now, with the issue becoming silent, a new lease of life has come.
Reports say that in just few weeks, the rates of several apartments in the city have shown increase by about 10% - 15%. This is seen only in projects which are ready to occupy or nearing completion.
Notable among the properties are Aditya Sunshine at Kondapur, NCC’s complex in Gachibowli, Manjeera’s twin towers at Kukatpally, PBEL’s project at APPA junction. The price hike has gone anywhere between Rs 200 – Rs 400 per sft in all these ventures, as per sources. Added to that, the rates are not negotiable.
The experts say customers are not willing to put their investment at risk so they are opting for almost complete projects. There is still the concern of the T-chaos happening again and putting everything on hold.
Few projects like Manjeera Majestic, Manjeera Trinity have become hot properties since they are almost ready for occupation. While all this is good news for the builders, it has become a burden for the buyers. They were hoping that prices would remain quiet for a while but this sudden upsurge is draining their income big time. It is heard that areas like Lingampally, Hafeezpet, Miyapur are quoting nothing less than Rs 3000 per sft. Just few months back, they were being sold at Rs. 2500 – Rs 2700 per sft.
Now, the prediction is that prices will go further up. On one hand, the T-effect is hampering and on the other side, there is the GO 45 which is yet to be resolved by the government. Sources say builders are not going for new ventures unless government revises this clause which has led to a shortage of market. The experts say if the same trend continues, the prices will be up by nearly 20%. There are also those who say that the builders are taking advantage of the situation and appreciating the prices without any limit.
