Real Estate Business Is Now Picking Up Again In Hyderabad

Hyderabad : With the rejection by Andhra voters of the Telengana Rashtra Samiti, real estate business is now picking up again in Hyderabad after the recent elections.

The non-residents of India (NRI)’s and the foreign direct investors have started taking interest in the real estate because the demand for a separate State does not seem to be on the cards.

Some believe that if the Telagana state was possible, then the prices would have gone down heavily but now the situation is different and people hope that the separation of the State is not on the cards.

“Some of the people in the coastal regions had withdrawn their investments but now they have come forward and want to invest further which will definitely give a boost to the real estate business,” said E. Peddi Reddy, TDP leader.

Since people are clear that Telangana would not be formed, a number of new ventures has risen in the city. Some builders believe that the Telangana factor was not the reason for the rise in investing. The reduction in the rate of interest by banks and the increasing value of dollar are some of the reasons for boom in the city.

“Two months after the by polls there was a little lull and it was a wait and watch situation. After by polls a lot of NRIs, foreign direct investors are showing interest. The ‘T’ factor impact should not have been there in the first place but for the past few days, we are getting a lot of calls and there is a lot of prospect to buy property,” said Y.Kiron, Suchir India Private Limited.

2 Comments

  1. Posted June 29, 2008 at 11:48 pm | Permalink

    After a dream run of three years, it is time for the real estate prices in Hyderabad to mellow down. Prices, which shot up by up to 300 per cent in most areas, have started cooling off, witnessing very low growth rates or stagnation.

  2. Posted July 18, 2008 at 6:58 am | Permalink

    The Hyderabad Urban Development Authority (Huda) is investing about Rs 6,000 crore for an eight-lane access-controlled expressway. Part of the Outer Ring Road (ORR) project, it would be taken up in three phases. Five agencies are working on this project on a build, operate and transfer basis. This is likely to be ready by 2010. The government would take financial assistance from the Japan Bank for International Cooperation (JBIC) and would soon call for tenders for the project. Also 33 radial roads would be laid at a cost of Rs 3,000-4,000 crore in Andhra Pradesh for better connectivity to the city. Work on four radial roads has already begun. Huda has also identified land for setting up the digital entertainment city and will soon form a special purpose vehicle for the purpose. It is also planning a health city with participation from global players. The government is also intent on developing townships along the Outer Ring Road. With all these developments taking place in the city, it seems Hyderabad will leave all the other cities in the race.For more view- realtydigest.blogspot.com

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