Hyderabad Realty Market is hallmarked by best possible affordability and this is the reason the city is counted in the most affordable realty market among the metro cities of India.
There has been a noticeable increase in the new launches. Most of which were offered to the people with better affordability. Â This sole factor well- affirms that Hyderabad has become, compared to other metro cities of India, the most affordable realty market. Due to this affordability, the properties in the city are hotly sought after, both by the prospective home buyers and investors.
Rising to the occasions, builders launched more projects; majority of the launches was in the affordable housing segment. Areas like Gachibowli, Kondapur, Kukatpally, Madhapur and Raidurgam saw higher number of launches. As against the launches in the other metros of India, nearly 88% of the new launches were in the affordable housing segment.
Affordability is the not the sole factor that attracted the end-users to the city. With the IT and ITeS sectors booming in the city, people have more job opportunities. And this has become one of the main features that attract the end-users mainly. There has been a steady development and growth of infrastructure and connectivity facilities of the city.
Knight Frank, a global real estate consultancy firm, reported that Hyderabad has become the most affordable realty market of India. Acciording to the global consultant’s report the city has been growing since 2008, the year in which the state was shaken by Telangana Turmoil.
Telangana Movment had really damaged the economy of the state. It too destroyed and uprooted the IT basis from the city. In those days the people did not prefer to own any property. Affordability had no impact on them. The situation has gone many changes as IT is booms in the city than it did previously.
Along with the growth the government also initiated many changes; GO 245 is an example, in the city. With all these the city has become capable of providing more affordable homes to the people. In fact the builders, freed from EWS/LIG housing norms by GO 245, remain competitive to each other to bring more affordable homes.
