Hyderabad real estate is undergoing a sudden change of late. This growing market was brought down by ongoing political and economic uncertainty across the state. Although experts suggest that things will change by the last quarter of 2014, things have yet to recover from the political troubles of last year. Lots of studies and research have been done to understand the current trend in the Hyderabad real estate market.
The residential housing segment was reportedly hardest hit with a 4% drop in overall sales at the end of 2013. The market has remained mostly stagnant with low absorption levels. The number of new projects in Hyderabad also dropped by almost 15% compared to 2012. In the year 2013, most of the residential markets like Chennai, Mumbai and Hyderabad witnessed a gradual slowdown. Slow economic growth, high interest rates, and inflation have caused this temporary period of calm. Compared to other IT/IT driven markets like Chennai and Bangalore, Hyderabad has shown only 13% increase in residential house prices. In conclusion, Hyderabad is the most affordable residential housing market in metropolitan India. Luxury flats in Hyderabad, in upscale residential areas like Banjara Hills and Jubilee Hills, range from INR 6,500-7,500 per square meter. Foot.
Commercial real estate in Hyderabad has also been witnessing a depreciation. There has been a considerable drop in rents in 2013. Reports suggest that Hyderabad is the least expensive office market in the world, surpassing the last Indonesian office market. The falling value of the Indian rupee has also affected rental trends here. There has been a considerable drop in commercial real estate in Hyderabad with rents at INR 58 per square meter. Ft. In 2012 at INR 45 per sqm. Ft. In 2013, Hyderabad was followed by Chennai, Pune and Bangalore as the cheapest office spaces in the world, according to reports.
An emerging trend in the Hyderabad real estate market is senior apartments or houses. The retirement home seems to be the new target market for many estate agents in all the metropolitan areas of India. Reports said that there are around 30 senior housing projects in major metropolitan areas including Hyderabad. Since prices are relatively low here, the market is likely to see increasing demand for these types of projects. Not only multi-storey apartments but also senior friendly detached houses for sale in Hyderabad will see gradual demand.
Talking about trends in the Hyderabad real estate market, another major development here is the upcoming green building. Reports suggest that since amendments have been made to the Andhra Pradesh Building Regulations, builders will lean towards greener and more environmentally friendly ways of building. In Hyderabad alone, more than 100 apartment projects have rainwater harvesting and solar panels. This is not restricted to just residential spaces. Commercial developments also adhere to the rules and regulations formulated by the Indian Green Building Council (IGBC). Individual households are also encouraged to make home compost pits to reduce household waste in the city. Environment friendly practices ensure that Hyderabad is a clean and green city.
