Hyderabad Realty Market to Bloom in 2020
The year 2019 was very fruitful for Hyderabad’s real estate. While the real estate sector in most Indian cities witnessed slowdown and tough times in transactions and sales, Hyderabad’s real estate sector was robust, stable, and steady.
The number of housing units that got permission by Greater Hyderabad Municipal Corporation indicates this surge. The municipal corporation gained around Rs. 980 crores till mid-December 2019 and it is expected that this figure can go beyond Rs. 1000 crore mark. Probably, this will be the first time that GHMC will generate so much revenue through building permission.
The city has seen strong construction activities over the last few years and demand for 2bhk flats for sale in Hyderabad has been on the rise. According to industry experts, stable government and lack of any issue have given impetus to this rise. Realtors are foraying into Hyderabad’s real estate market to leverage the opportunities.
Apart from residential units, the growth in office spaces and commercial buildings also has been very significant. Various new projects were launched in the year 2019. There was a significant increase in construction activities in the east zone. In accordance with the state government’s ‘Look East’ initiative, the east zone is growing rapidly compared to its western counterpart. The demand for villas for sale in Hyderabad in the east zone is on the rise.
Industry’s Expectation
Hyderabad has been making its name in every field, particularly real estate, with many national and international real estate companies coming here to invest in its emerging realty industry. This trend is expected to continue in the year 2020 also.
Though the future of the realty sector in the city is very bright, there are some concerns that need to be addressed. The first such issue is the availability of skilled manpower and proper attention needs on this part. Majority of the workers working in real estate project in the city is from northern states such as U.P, Bihar, M.P, etc. Locals make up only 25% of the workforce.
As far as the government’s policy is considered, industry experts think that it is good, and the government should continue the same policy. The Telangana government has taken several steps related to the supply of building materials such as sand, cement, bricks, etc. and there is no dearth of materials.
Hyderabad, the country’s most liveable city, is witnessing tremendous growth in its infrastructure-related activities. With the presence of IT companies and world-class infrastructure, people are queuing up to buy a house in Hyderabad. Apart from purchasing ready-to-move in house and flats, people are also investing heavily in plots in Hyderabad. N K Realtors, one of the prominent real estate companies in the city, has many commercial and residential projects going on in the city. If you are considering buying homes or flats in the city, then N K Realtors could be a perfect destination to fulfill your dream of having own home.
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