Property Sale Picking Up in Hyderabad

Hyderabad : After years of sluggish activity, Hyderabad property market is picking up according to the latest report from Knight Frank. Hyderabad property market, which experienced the political instability in the recent year, is likely to show a revival.  The real estate scenario has witnessed a drastic change from the second half of 2014.

The Hyderabad property market remained sluggish during 2013 quarter with the absorption of 16,500 residential units and witnessed a slight drop in residential sales volume compared to 2012 quarter. In the first half of 2014, the city saw a plunge by over 27 percent to 7300 residential units and during the second half of 2014 quarter the property sale and demand is picking up due to the festival season, according to the real estate consultancy Knight Frank Report.

Real estate professionals said that during the formation of the new state Telangana, the Hyderabad realty market had slowed down and the demand rate had thinned out with the delay of new residential projects. After the announcement of new state Telangana people hoped for the best and started investing.
 
Builders say the sun is rising again on the Hyderabad city as the property market has seen a marked rise in the number of buyers’ inquiries in 2014. Increase in number of inquiries is a positive sign for real estate development.
 
Several development measures proposed by the state government for infrastructure and industrial development such as metro railways have boosted the real estate sale in the past few months.
 
“Nothing much improved in Hyderabad realty. Due to the formation of new state the new project permissions got delayed and the state needs new officers. 2014 year has become the year of adjustments and it is expected to pick up the residential and commercial activity in large pace during the second quarter of 2015.” Real estate experts added.

According to Prop Index, the demand of residential houses noted 21 percent in Apr-Jun 2014 quarter, 32 percent during Jul-Sep 2014 quarter and 36 percent during Oct-Dec 2014 quarter.
 
To pick up the property sales many developers are adopting the various methods which lure the buyers’ interest.