Hyderabad real estate is to be supported and boosted by the proposed metro rail. With the arrival of new metro services the city is to become more transit oriented.
N.V.S. Reddy the Hyderabad Metro Rail (HMR) Managing Director said that the metro rail will foster the real estate development in the city in a higher level. Pointing to the varying prices existing in the city, he added that most of the people desire to have low budget homes which may cost below Rs.20 lakhs.
While addressing the Property Expo -2012 by the APREDA – Andhra Pradesh real estate Developers’ Association, he pointed to the unbearable prices of land which cost the construction a lot. Once the land price is limited no doubt the cost of residential projects will come down.
Commissioner at Hyderabad Metropolitan Development Authority (HMDA) Mr. Neerabh Kumar Prasad commended that the Hyderabad real estate developers should try to deliver more affordable homes.
APREDA’s Property Expo -2012 remained to be a great success as it could draw large number of people to it.
HMDA and HMR are going ahead with their transit oriented development (TOD). People are always seeking high level connectivity. By constructing good infrastructure the government can increase the demand.
On the occasion of APREDA’s Property Expo -2012, Mr. Prasad said that the Authority will aim at constructing high level infrastructure. Further he added that the Authority will provide incentives to the real estate developers as well.
The supply and demand ratio determines the price of the area. If an area has high demand that area will have higher prices too. This is almost what was expressed in the words of Jones Lang LaSalle’s Anuj Puri. He highlighted the necessity of creating Tier- II cities.
He pointed that the creation of such tier-II cities will take away the over burden on Hyderabad. However the Hindu reported that the real estate property expo was a great success as it could drag people at greater levels.
Festive season filled new hope to the real estate builders all over India. This was further facilitated by the reduction of interest rates by the banks. The proposed Metro rail would bring greater changes in Hyderabad real estate.
