Hyderabad, a beautiful city located in the southern part of India is also known to be the city of pearls. The city holds a magnetic charm due to its rich culture ethos, lip smacking cuisines and magnificent monuments.
The city has come a long way and today it is home to many IT Companies in India, which offer white collar jobs to many people. This city, today serves as a capital for two states, Andhra Pradesh and Telangana (the newly constituted state after the political turmoil). The residential real estate in Hyderabad has also witnessed increasing demand in the past few years. Another reason that has led to the demand of Hyderabad is its much affordable rates when compared to other metros like Mumbai, Chennai, Delhi and Bangalore.
The city has witnessed a slew of infrastructure development in the recent past. One of the biggest development in the city is the Metro Rail. It has 3 corridors and covers almost all parts of the city. Another major development was the Nehru Outer Ring Road (ORR) that has transformed the city to a great extent. ORR was constructed to de-congest the city traffic and to connect to other suburbs and peripheral areas of the city. The Hyderabad Elevated Expressway is known as the longest flyover in India. There are plans to improve the existing roads and to build skywalks with multiple layers of flyovers in the city. This is envisaged to boost the further connectivity and also fuel the demand of property in Hyderabad. The Telangana government has announced the development of new roads up to the length of 1000 km and is planning to add around 4 lakh LED street lights in Hyderabad.
The government has taken adequate measures and also provided huge funds to develop a SEZ in Gachibowli which is estimated to create over 1 million job opportunities. With all these infrastructure development, residential real estate in Hyderabad can expect better returns. Apart from infrastructure, government is also offering liberal policies that are attracting huge foreign investment to the city, such as:
Tax benefits to new investors
Simplifying the investment procedure
Providing assistance in setting up their business base
Announcement of new infrastructures and new corridors
Provisions have also been made to create specialized cities, like, pharma city, health city, sports city and cinema city for recreational activities. All these new developments will generate housing demand in Hyderabad along the growth corridors. As per the Telangana government, many initiatives are being taken to create lakhs of jobs by 2020. It is believed that creation of jobs will have a huge impact on the real estate market of the city. This will increase the demand of property in Hyderabad significantly.
Even though there was a political instability, still the developers kept on launching new housing properties in Hyderabad and today many houses are for sale in all price ranges. This is the right opportunity to buy dream home in Hyderabad as the prices are affordable. With many schemes introduced by the government of Telangana, investment in Hyderabad seems to have bright prospects.