The city of Hyderabad has experienced a big inflow of people coming from different parts of Andhra Pradesh as well as the country. This condition has already led to population explosion and thus requires the sufficient number of residential properties, mostly houses for rent in Hyderabad. With the due course of time, the residential segment of the city was almost occupied and people started looking for other options if they wished to own a property in Hyderabad. The investors found it a good option to invest in the sub urban areas in and around Hyderabad, which proved to be the potential places for residing at affordable prices.
The real estate developers and builders in Hyderabad have already grabbed the attention of the global investment groups to invest in real estate segment of Hyderabad. Lately, the builders and real estate agencies in Hyderabad have roped a number of international banks and financial institutions to enter the Indian real estate markets.
The most targeted areas for foreign direct investments (FDI) as well as investments from Indian investors and builders have been Abids, Ameerpet, Banjara Hills, Begumpet, Dilsukhnagar, Jubilee Hills, Koti, Mehdipatnam, Punjagutta and Secunderabad, among others.
Factors adding to the growth of suburbs of Hyderabad
The saturation, congestion and unsanitary within the city resulted in the growth of the suburbs, which were 470 in 1982-83 and increased to 964 in 1991, where 600,000 people were staying. The main reason that caused the growth of suburbs was the exorbitant land prices. As the poorer strata of society could not afford to buy a plot and build a house of reasonable quality, many of them occupied state land and built temporary dwellings, which were of poor quality. The local administration could not take the responsibility of creating civic endowments in these unauthorized settlements, and this led to the deterioration of the environment.
Introduction of new projects
The city came up with a number of sustainability projects, which led to restoration of the environment as well as offered good residential facilities for the dwellers.
The objectives of the project for the improvement of the suburbs were to:
- Create a sense of social coherence to achieve public participation.
- Improve the quality of the physical environment.
- Generate employment and improve the living conditions of the people.
- Modernize primary health care in suburban areas.
- Revitalize schooling programs, aimed particularly to illiterate adults and women.
- Promote organizing initiatives by the participating communities.
The latest trend in the real estate market is the increased interests of investors and buyers in the studio apartments and serviced apartments in Hyderabad, particularly in its suburbs, which are away from the hustle and bustle of the main city. Those who invest in these types of properties mainly belong the investor population who later lease them to the clients, mainly the corporate world, which requires cost-effective accommodations for the guests and trainees.
Some of the latest developing like opening of Shamshabad airport and the widening of Outer Ring Road (ORR) has also led to increased demand of the real estate properties in and around these areas. the prices of land itself have touched Rs 12,000 per square yard in adjoining areas, which are home of big IT companies like Infosys and Microsoft. A number of NRI investors are also investing in such lands for investment purpose. Investing in real estate market of Hyderabad is like reaping benefits before time. Therefore, it is always the best time to invest in the properties and get returns on investments in the short time.
Author Bio: Rashmi Karan is a professional writer who writes about the realty industry of India and focuses on offering location-specific information of the cities. She also offer solutions for the real estate related queries.
Categories: Real Estate
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