Planning To Invest In Hyderabad In 2017? Some major localities to invest in Hyderabad

The City of Nizams, Hyderabad, has welcomed the many policy decisions taken by the Centre that had an impact on the real estate markets. The capital of new state Telangana, is riding high on real estate as Builders and developers in Hyderabad have taken the latest developments in their stride. Though many don't feel affected by the recent demonetisation drive, the real estate market here has no doubt slowed, but it has definitely not been written off. The slowdown has made investors and end buyers a bit wary about whether or not to invest in real estate.

Looking at long-term goals, according to a report released by the Directorate of Economics and Statistics of the State government, the state of Telangana is among the six major industrial states in India with Hyderabad being the fastest emerging IT hub of the country. Also known as Cyberabad, it has recently seen an increase in the rentals for the commercial spaces as well increase in the purchase of the residential property in Hyderabad as well. Moreover, the rentals of the residential properties have also seen a considerable increase. The city has a large concentration of IT-based industries, due to which there is a huge demand of residential apartments close to the localities having best of infrastructure and the facilities.

Going by the demand, the best sectors to invest in Hyderabad is buying and renting properties. Of this, the two major localities to invest in Hyderabad are Gachibowli and Manikonda. The major jump in the rental sector has been the result of the setup of the office out of home campus of corporate giants like, Google, Apple, Infosys, etc.

Gachibowli in Hyderabad is one of the fast-growing localities. The locality has become a hot spot for the real estate development. The proximity of Gachibowli to the new international airport; rapidly increasing IT base; and the growing infrastructure has made it one of the most-sought after localities for residential real estate in hyderabad among the IT professionals who want to live close to their workplaces. The price of the properties in Gachibowli, which mostly houses 3BHK apartments and is followed by 2BHK apartments, ranges between Rs 40 lakh-Rs 60 lakh. The consumers, however, prefer 2BHK apartments, even if they are costly. If we go by the demand, the end-users are more interested in buying or renting 3BHK apartments, closely followed by 2BHK houses.

Manikonda, also on par with Gachibowli, is not far behind with regard to the growing real estate demand. Manikonda is for the buyers who are looking for a property and are on a budget. Manikonda like Gachibowli has seen a boom in the IT sector. It has come up as one of the leading localities with high-rise residential projects, software company headquarters. It is a posh locality with the presence of many noteworthy commercial developments. It consists of major commercial players like Reliance, Brand Factory, etc. Manikonda is also connected via Metro rail and state bus service.

Buy a Flat in Hyderabad by paying an Emi as low as Rs 6,000

The federal government has been accommodative of the concerns of the realty sector and met the industrys long pending demand to accord infra-status to affordable homes in hyderabad .

Relaxation on long term capital gains, joint development agreements, tax rebates for builders in hyderabad on unsold stocks would provide a large relief to the actual estate sector, that will be facing a multi-year slowdown, developers and consultants said.

Developers would enter into affordable home projects in Hyderabad with the change in the eligibility norm to carpet area from built up area along with clarity on applicability of 30 sq meter and 60 sq meter criteria.

Realty major DLF CEO Rajeev Talwar said: “It is great and balanced Budget. For housing it is definitely an unprecedented Budget. Infrastructure status to affordable housing will mean cheaper cost of funding and lower tax to developers.

Emaar India CEO Mr Sanjay Malhotra said affordable housing segment getting the Infrastructure status alongside increased allocations under NHB and PMAY-Gramin would enable larger funding offered to home buyers and developers at a less expensive and also make the sector eligible for various incentives.

The Budget provides a big boost to the affordable housing but missed on giving any additional income tax incentives to first-time home buyers or providing higher tax savings on housing loans and house insurance premiums.

Greater Hyderabad Municipal Corporation has spent only Rs 2,038 crore of its total budget of Rs 5,600 crore

The city corporation has spent only 36% of its budget of Rs 5,600 crore for the season, and hasn't taken up a number of key projects for road improvement, rejuvenation of lakes and the strengthening of infrastructure.

With just three months to choose the conclusion of the financial year, it appears likely that the government's plans to turn Hyderabad right into a'Global City'will remain only on paper.

Sources said the Greater Hyderabad Municipal Corporation (GHMC) has spent only Rs 2,038 crore of its total budget of Rs 5,600 crore till January 1, 2017.

Less than 20% of the funds allocated for major infrastructure projects have already been used. While Rs 3,630 crore was earmarked for capital expenditure -used for construction of bridges, road and large projects -civic authorities have spent only Rs 512 crore.

For instance, under Smart Hyderabad initiative, the corporation proposed e-citizen services, free wi-fi, an intelligent Hyderabad property project, and a secure city project at a high price of Rs 46.15 crore.But the corporation hasn't spent any funds on these proposals. Underneath the  Residential Project in Hyderabad -Green Hyderabad project, Telanangaku Haritha Haram and Lakes Rejuvenation, Protection and Beautification were proposed. Of the Rs 235 crore allotted, the civic body has spent just `20 crore.Another big initiative, the Musi Rejuvenation project, was allocated Rs 21 crore but work is yet to begin.

The corporation engineering wing proposed road works at a high price of Rs 860 crore. Only Rs 170 crore has been spent. In contrast, a year ago the civic body spent Rs 424 crore during exactly the same period. The case is comparable with storm water drains improvement -of the proposed Rs 257 crore, only Rs 39 crore was released.

“The state government pushed GHMC right into a debt trap with additional burdens such as for instance providing financial assistance of ` 337 crore to Telangana State Road Transport Corporation.The government hasn't released grants like entertainment tax and property tax for government luxurty properties in Hyderabad ,“ said M Srinivas, secretary of CPM city unit. Srinivas, who procured the important points via an RTI application, said the government promised Rs 378 crore to the corporation in 2015-16, but released Rs 11 crore. In 2016-17, their state government earmarked Rs 70 crore, but hasn't released any funds.

GHMC commissioner B Janardhan Reddy admitted that the expenditure on major works was low as many projects required interdepartmental support like shifting of sewer and power lines. He explained road work usually begins in November and December and is completed before the conclusion of the financial year. On financial support from the Centre, he said GHMC is expecting about Rs 95 crore underneath the 14th finance commission.

Realty market of Hyderabad sees positive growth

Real estate property in Hyderabad could not see much improvement because of the political issues for the last couple of years. After the issues have settled down, the city has begun hinting at the restoration with loads of positive opinions among the purchasers. Many blue chip organizations, IT firms and other multinational company has additionally moved their concentration to Hyderabad that has altogether fuelled industrialization in the city. This has likewise helped the realty advertise in Hyderabad. Real estate Trends in Hyderabad is good to go to blast.

Luxury apartments in Hyderabad has developed as a favored goal for venture in India as well as abroad. A decent number of NRI's have likewise showcased their enthusiasm for as far back as decade in Hyderabad property. Reasonable lodging in Hyderabad has additionally pulled in a tremendous spotlight.

Enhanced Infrastructure

A few activities are in the pipeline and once these undertakings are finished, it is relied upon to support the further framework. The Jawaharlal Nehru Outer Ring Road is being moved toward the lines of Beijing's 8 bangles (ring streets) of availability, peopling go in and around the city inside a limited ability to focus time. The forthcoming Metro Rail extend has all the earmarks of being a promising undertaking as it will associate the eastern and western passages which are mainstream IT center points. Once useful this venture is relied upon to offer continuous availability, chop down movement troubles, activity, battle air and commotion contamination, help business openings and different other monetary exercises. Moderate lodging in Hyderabad has likewise fuelled the request.

In the long run, everybody who possesses New projects in Hyderabad will store everything on the cloud. All things, for example, pictures, documents, recordings will move to the cloud flawlessly as the speed by which we get to the cloud turns out to be fast to the point that it has the effect between getting to a hard plate and information on the cloud indistinct.

While hard circles may even now be around the individuals, who utilize them will be viewed as dinosaurs and as being unhip. Such a change is pivotal as a great part of the information we have today is excessively urgent, making it impossible to first save money on a hard place before exchanging it to the cloud, unquestionably huge numbers of those with essential parts work solely on the cloud, however even straightforward documents may end up being vital to the fruition of an undertaking and may initially should be made and saved money on the telephones or tablets worked in memory before being exchanged securely to the cloud. The requirement for moment stockpiling on the cloud will demonstrate essential to numerous in the following couple of years in the event that it has not as of now turn out to be so for some today.

A Huge Fall in the Registration of Property in Hyderabad's Old City

 

Registration of property in Hyderabad Old City has fallen by nearly sixty percent since the government's demonetization push was announced in the second week of November. Revenue department officials state that while there has been a drop in the registration of new property in Hyderabad, the number of gift deeds has risen since demonetization was announced. 


Those employed with the concerned department state that prior to the November 9th decision by the central government to demonetize high denomination notes, district registrar office employees would register nearly ten to fifteen sale deed documents, today this number has fallen to nearly five or seven new registrations. Employees with the DRO (District Registrar Office) state that the number of gift deeds has risen considerably while the number of new registrations has fallen. 

Some Homebuyers Were Just in Time
Homebuyers who had entered into an agreement to buy a residential property in Hyderabad just before demonetization had been announced went ahead and bought their new house, however the number of new homes purchased post demonetization has fallen significantly. As a matter of fact one registrar from Azampura has plainly stated that post demonetization he has not come across a single real estate sale deed that was not between relatives or friends. 


A Sign of the Times
Since demonetization, residents of Hyderabad have visited the office of the registrar with regards to rental agreements, mortgages and will deeds, however the number of new sale deeds registered was barely seen. To put things in perspective, towards the end of last month, a stamp counter, which pre demonetization, always had a huge line of people wanting to register their property, recently did not have a single person eager to buy stamp paper.  

Staffers at the registrar's office have stated that pre demonetization they would sell nearly 5000 to 7000 pages of stamp paper every day. This has now fallen to fewer than 2000 new pages of stamp paper sold every day. Staffers who deal in encumbrance certificates stated that while before November 9th' they would issue nearly 30 to 40 new encumbrance certificates everyday, today this number has fallen to below 15. Hence far fewer residential real estate in Hyderabad's old city is being bought and sold. 


The Reason For Decline in Registrations
Those who earn their living by registering property documents claim that the prime reason for the registration of new properties is the lack of cash in the hands of those willing to buy and sell Luxury apartment in Hyderabad.  According to such registrars, those who register Echallans prefer to pay using cash and since many banks still have huge lines of anxious people willing to stand in line for hours to withdraw cash, it demotivates many who are dealing in buying and selling property in Hyderabad since many such individuals are unwilling to stand in line for hours to withdraw cash.
 

Conclusion
While demonetization in its early phases had brought much of the commerce, particularly in real estate, in the country to a standstill, most experts agree wholeheartedly that its impact, in the long term, on real estate in India, will be largely positive. Demonetization has made possible other measures announced by Mr. Narendra Modi on December 31st which will make affordable housing in Hyderabad possible for Lower Income Group households in the city and across the country. 

Is Indian Real estate in Hyderabad on the growth curve?

 The city of Nizam, Hyderabad is the fastest growing real estate market. The popularity of the real estate in Hyderabad has increased due to its affordable properties. The property prices in all segments have increased positively in this city. The existence of several multinational companies like Google and Apple has attracted many people to Hyderabad. Many more companies are expected to open their offices in Hyderabad. There is a prediction of additional 16 million square of new offices spaces over the next one year. The mushrooming IT/ITES office space has worked as stimulant and demand driver of residential space. There is a massive development in the housing sector due to the well-planned retail and hospitality.

Hyderabad real estate market is growing and expected to witness price appreciation. Several new projects are coming up in Hyderabad. According to a realty consultant, the developers in Hyderabad are consistently focusing on the new projects in Hyderabad to meet the demand. During the first half of 2016, there was a growth of 4% in the new launches.

The most available configurations are 2BHK, 3BHK and 4BHK.The low budget segment has witnessed a significant demand. The flats are available in the price range of Rs.3, 000-4,000 per square feet in this affordable segment, which makes it popular among the consumers. In Hyderabad, the areas such as Miyapur, Uppal, Manikonda, Sainikpuri and Secunderabad have good options available in the market.

The government is also focusing to build affordable homes for people. The homebuyers are showing immense interests to buy properties in the affordable range. It is a best time to invest in the property market because there is expectation that the market may witness downward pressure on prices.

Therefore, if you have been dreaming to buy a home in Hyderabad, then it is the time now. The young working crowd who are living in the rented locations can consider of buying home here. The government is focusing hard on Hyderabad real estate so that the city is able to attract potential investors and buyers in the near future.