In residential real estate, experts foresee a possible decline in the number of new housing developments launching in Hyderabad.
Hyderabad: After the news broke that TDP leader Chandrababu Naidu took the oath as his fourth stint as the Chief Minister of Andhra Pradesh, development talks have taken center stage in the state of Andhra Pradesh. Also, it will certainly be interesting to see how the new government plans to enhance infrastructure growth and pull more businesses into Hyderabad and other Telugu regions.
Most interestingly, the real estate experts reckon that giving Amaravati a facelift might draw businesses and people back to Andhra Pradesh, which could stir a temporary swing in property prices in Hyderabad, as per a report by the Hindustan Times.
Possible Decline In Housing Projects For Hyderabad?
In residential real estate, experts foresee a possible decline in the number of new housing developments launching in Hyderabad. This is driven by the shift of investors and buyers who are now attracted to bountiful alternatives in Andhra Pradesh, more so in Amaravati. These emerging areas of growth in the city are expected to witness substantial progress.
Prashant Thakur, Regional Director and Head – Research, ANAROCK Group was quoted as saying, “While this dream project was shelved by the previous government, there are now very distinct possibilities of its revival. However, the development of a new capital city and the massive eco-system it entails is a task of epic proportions. Despite all political will and support, it will take time to fructify – and to emerge as real competition to Hyderabad.”
Challenges To Hyderabad’s Real Estate
Looking forward, the Hyderabad real estate market shows a lot of promise. However, it’s critical to understand that it won’t be all smooth sailing. There’s a chance that business entities or denizens might be enticed to Andhra Pradesh due to appealing perks that could cause a shift in investments away from Hyderabad. This situation could bring about a short-term tweak in Hyderabad’s property prices and even a potential dip in its commercial property sector, as pointed out by Anarock Research.
About Hyderabad’s Housing Market
Hyderabad’s property market is a hot pick because of its key position as a vibrant hub serving both Telangana and Andhra Pradesh. The charm of the city rests on its abundance of education facilities, job openings, leisure facilities, excellent healthcare, and great shopping experiences. This makes Hyderabad extremely attractive and the number one choice for folks from nearby towns and cities, especially those from Andhra Pradesh.