Hyderabad’s residential real estate market has consistently witnessed higher demand across all segments, as compared to other major cities in India. In fact, real estate demand in Hyderabad was improving in the first quarter of 2020 until the lockdown came into effect, which reduced site visits. Now that the situation is under control, the market is expected to regain its previous momentum.
Homebuyers in Hyderabad will largely favor risk-free property investments for the foreseeable future. There will be high demand for reputed developers with minimal execution risk. Prices will continue to increase as home buyers will carefully consider the quality of the developer, project, neighbourhood, environment, and amenities.
Let’s take a look at the consumer trends that are guiding home buying in Hyderabad.
Price Appreciation Drives Demand for Hyderabad Real Estate
Hyderabad real estate has room for price appreciation because the city offers affordability and value without compromising on amenities. Accordingly, Hyderabad has been comparatively unaffected by the nation-wide slowdown over the past few years. The city’s residential real estate market witnessed considerably higher demand across all segments, as compared to other major cities. Demand for Hyderabad real estate is expected to increase as prices will continue to appreciate.
Modern Amenities & Smart Technology
Many projects in Hyderabad offer amenities that are designed to provide an enhanced lifestyle for residents. Reputable builders make sure to invest in modern luxury facilities including club houses, fitness centres, swimming pools, spas, playgrounds and sports facilities. They are even integrating smart automation systems for added convenience and comfort. IoT (Internet of Things) and ICT (Information and Communication Technology) systems create a convenient interface between residents and the buildings. Data, Analytics and Machine Learning is utilised so the systems can adapt to resident lifestyles. Applications include security systems with smart sensors and smart access systems. Smart transport systems are also utilised to detect free parking spaces as well as detect children playing and alert incoming vehicles.
Emerging Growth Corridors
Many areas in Hyderabad are gaining interest in their location, connectivity and investment potential. Both Nallagandla and Chandanagar are growing areas that have strategic proximity to the IT and Finance hubs. While Nallagandla is rapidly developing and becoming a residential hotspot, nearby areas including Lingampally and BHEL Township are also gaining interest amongst NRIs. Manikonda and Kondapur are very popular localities as well. These areas are characterised by their proximity to industry hubs, social infrastructure, transport centres and connectivity throughout the city.
As home buyers in Hyderabad shift their focus towards environmental responsibility, the availability of green amenities is on the rise including solar panels, rainwater harvesting, waste management and high-efficiency lighting. Green buildings have created new benchmarks for the real estate sector and have proved that luxury and sustainability can go hand in hand. The implementation of green buildings can help address concerns including water efficiency, energy efficiency, reduction in fossil fuel use, handling of consumer waste and conserving natural resources.
Integrated townships are the future of Hyderabad’s urban planning initiatives. Townships provide an integrated solution to a number of urbanization challenges. They offer residents the option of living in a highly organized real estate development which provides a holistic mix of housing with modern amenities, green open spaces and connectivity to commercial centres that can exist regardless of how rampant urbanization impacts the rest of the city. Because of all the benefits townships offer in terms of providing a serene haven from the bustling city, the integrated township model is a fast-growing segment.
Hyderabad has always been a popular real estate destination with NRIs, primarily due to its developed commercial infrastructure. The decreasing value of the Rupee against the Dollar is benefitting NRI investors significantly as investors get more square feet of space for the same amount in the foreign currency. This is an opportune time for NRIs to buy property in Hyderabad.
Furthermore, India has been comparably resistant to global recessions. During the last global recession, India was one of the few countries to have not been adversely affected. NRIs are aware of this fact and prefer investing their foreign currency savings in the growing Hyderabad real estate market.