India is one of the fastest growing economies in the world, with various developments in industrial aspects. The real estate economy is set to mark the 180 billion dollar by 2020. It is considered one of the lucrative options for great returns on investment.
In major cities like Hyderabad, real estate is booming in both commercial and residential sectors. The city has consistently shown a steady growth making Telangana the second most prominent state in the whole country for the market. Unlike the other metropolitan cities, Hyderabad defied the trend with a growth of 10% increase in sales in the year 2019. The infrastructural development in and around the city of strategic road networks, elevated corridors and excellent connectivity adds to the profitability of the market. The government has also employed specifics laws of ‘RERA (Real Estate Regulatory Act)’ to finish the initiated projects promptly on time and to avoid any losses caused to the general public.
The affordability of open plots puts everything at ease in the city of Nizams. As per the National Housing Bank’s Residex, the South Indian cities touch the average price of 6900/- per sq.foot whereas Hyderabad has the value at about 4500/- for the same. It can be speculated that Hyderabad would still rule in terms of feasible prices.
2. Price rise:
Hyderabad witnessed a steady increase of 17% in the property prices this year as compared to 2% rise of the other cities. The steep rise can be attributed to the affordability of plots. Hence the analysis puts forth the fact that the best time to buy a property is now.
3. Inventory overhang:
The time required to sell the existing stock of property is a significant factor in the real estate market. The pearl city has the lowest inventory overhang, indicating a speedy sales of the ventures in within 14 months as opposed to the 41 months period of Noida. It is speculate at continue in the future because of the raising population near the suburban areas of the city.
4. New Launches:
The new ventures in the residential sales were up by a whopping 70% in 2019 owing to the attractiveness of the community based developmental works. It is predicted to be the same in 2020 due to the expanding communities in the suburbs.
These trends engenders a new interest in the investment of open plots. Technology innovation and sustainability will be key drivers for value of the assets in the future. Involvement of government will become more significant to ensure a transparent process. Competition for main assets will further build up making it the need of the hour to invest in a property. Visishta Infra developers keep up with the future of the real estate to provide the most up to date facilities in our ventures. Our new launches put our customers as priority, creating an excellent value for your investment, To know more, please visit Visishtainfra.in.