Thursday 12 March 2015

Infrastructure to enhance real estate in Hyderabad

The city of Hyderabad is set to undergo a mammoth change in terms of infrastructure. The government of Telengana is planning to give the city a major infrastructure overhaul. The state government is planning to pump in nearly INR 21000 crores into revamping the infrastructure of the city. This is akin to giving the city the much needed face lift it deserves.

The main aim behind this move is to make the city more attractive to investors. Multiple reasons have worked against the city and have worked towards destroying investor confidence towards this city. The most important reason was the political unrest which was plaguing the state of Andhra Pradesh. The demand for the bifurcation of the state and the resultant unrest ensured that the city got little to no developmental projects. This unrest affected the real estate segment as well. But with the bifurcation of the state, the city has gotten a new lease of life. There is a clear path set in front of the city now and there is hope that things will take a turn for the better here.

The government of the state of Telangana is planning to develop multiple projects in this city. A series of skywalks, major corridors and flyovers are set to hit the city. This will not only be of great use to the common man, they will also serve to enhance the real estate profile of the city. Prices for properties such as plots and residential apartments in Hyderabad will go up once these projects start rolling out.

The money will be obtained from both state agencies and the central government. The money will be doled out over the course of the next five years. The initial plan is to pump in about INR 1500 for the first year alone. Focus has been given to transportation related infrastructure. The plan is to develop six-lane roads, ten highways, and grade separators in the very first phase according to reports of indiaproperty.com.

There is a large amount of unsold inventory in terms of new apartments in Hyderabad. Realtors are trying to get rid of this unsold inventory. The real estate market here has been going through a slump for the past few years. The news of these new infrastructural projects will give a good boost to residential apartments in Hyderabad. This market was expected to recover in 2014, but that did not happen as end users and investors chose to stay away.

But things are expected to turn for this city in 2015. Most experts predict that the market might just recover in the first quarter of 2015. Then there might be demand for new apartments in Hyderabad. Currently the market is very buyer friendly as most of the real estate here can be picked up for really affordable rates. But this might not be the case in a few months’ time experts say. Taking into account the infrastructural developments that are going to come up, now might be the perfect time to purchase properties in this city.

1 comment: