Time to rectify
If interest rates on home loans continue to remain low, the construction sector will continue to prosper in 2022. However, there are rumors that interest rates will be adjusted. If the government manages to maintain low interest rates for some more time, a higher percentage of people will come forward to buy homes. Regardless of Covid pandemic, several industries in Telangana, especially Hyderabad have been making significant progress. Demand will increase due to Hyderabad’s brand value. Prior to 2006, we raised two issues – a level playing field and a win-win situation in the real estate sector. Now both these words have resumed significance in 2022 as well. After GO 86 was issued, Hyderabad gained a good reputation and transparency has increased in the construction sector. The commitment is high among the developers, with self-regulation strictly being followed. We are taking the Occupancy Certificate promptly. Overall, Hyderabad’s real estate sector is on the right track and builders made a name for themselves as pucca professionals. However, we must take measures to rectify the Hyderabad real estate market which got disturbed in recent times.
– C Sekhar Reddy, Ex. National President, CREDAI National
Sales will increase
In 2021, the Hyderabad real estate sector remained positive. Sales in our ongoing projects increased during December. This is a positive sign. Interestingly, most of the people who are buying houses are from both the Telugu States and people are not hesitating to purchase properties in projects where construction work is being taken seriously. It must be noted that those investing in UDS and pre launch sales are mostly speculators. The government must take stringent action against such builders, to reduce such illegal sales significantly in 2022 and bring the situation under control. Sales of flats are expected to grow significantly in 2022. IT complexes with nearly 30 crore sq.ft of office space are coming up in near future. This would result in establishment of new companies and at least 1.5 lakh new employees are expected to join them. Even if half of them purchase flats, the Hyderabad market will remain strong. Despite the performance of the national real estate market, Hyderabad’s market will continue to prosper. Around two lakh new homes are ready for occupation in Bengaluru, but there are no sales. Yet, the Hyderabad’s real estate sector is unlikely to slow down for next four-five years
– S Ramreddy, CMD, SMR Holdings
The AP market will improve
I think the real estate market in Andhra Pradesh will be better in 2022. With the AP government withdrawing the three capitals, there is a firm belief that the Amaravati area would continue to be the State Capital. The government is spending Rs 36.5 crore to expand the High Court and had recently informed the High Court that Rs 3,000 crore would be spent on infrastructure development in the Amaravati Capital Region. The offices of about 130 heads of government departments are located in Tadepalli and Mangalagiri areas. With this, 12,000 employees are working in the region. Several leaders from both the ruling and opposition parties are living in this area. More than 2,000 people are currently working at AIIMS and the number is likely to reach 7,000. There are 3,000 employees working in Manipal Hospital and another 2,000 in NRI Hospital. KL University has a staff of over 3,000. Therefore, there will be good demand for the real estate sector in 2022 in Mangalagiri and Tadepalli areas. The construction sector has ample opportunities to expand, with several gated communities and skyscrapers coming up in this area. Many construction companies are coming forward to build new projects.
– Paruchuri Kiran Kumar, GC Member, NAREDCO Andhra Pradesh.
Bigger the better
India has gained full experience on how to handle Corona. As a result, although we suffered some setbacks in 2021, we have since recovered most rapidly. Probably, the real estate sector in Hyderabad has recovered faster than the rest of India. The construction sector will be more stable in 2022 with respect to residential and commercial projects. Sales will also increase significantly. Due to Covid, there has been a visible change in buyers’ thought process. Now, a large percentage of them are focusing on slightly bigger homes and want to have better facilities. If the price is attractive, then the decision to purchase a property is being made faster. This is a positive sign.
There is always a demand in the market for well-equipped homes. Our projects are a good example of this. Currently, two projects in Bandlaguda Jagir and LB Nagar are ready for occupation. Another new structure, the Houdini, has recently been launched. We are planning to launch another new project in LB Nagar soon. All in all, I hope more people will have a permanent home in our projects in the new year. All flats are expected to be sold within the third quarter of this year.
– Sumit Kumar, CEO, Vaishnavi Infracon
Three new projects in 2022
Projects that are in a good location, have impressive planning and good designs will be very popular in 2022. There will be a greater demand for the projects which are designed and constructed in tune with the changing tastes of home buyers. As always, we are focusing on building landmark projects. Instead of rushing through projects, our vision is to deliver the quality structures to our customers. Two villa projects are currently under progress. We will be handing over two apartment projects to our home buyers this October. We are planning to launch two more new apartment and one villa projects this year.
* People who are buying properties under UDS and pre launch schemes, are mostly investors. But the projects which are designed for residential purposes, will always be in good demand. Buyers have understood the troubles of purchasing flats or villas under UDS or pre launch schemes. Hence, they are gradually staying away from such projects. It seems that those selling flats under UDS and pre launch sales, are only trying to take advantage of FSI mostly ignoring things like architecture.
– Aditya Reddy, Executive Director, Aditya Homes
Buyers must remain cautious
The construction sector in Hyderabad is making better progress than expected and the growth is likely to continue further in future. There is no doubt that the real estate market will be better in 2022. However, buyers have to be very careful. Before buying any property in any project, one must verify the builder’s history and evaluate whether or not he/she can deliver the property as per schedule. Similarly, developers should start constructing only after a thorough study of their financial, logistic and technical capabilities to complete the project.
* We have decided to undertake almost five projects in Hyderabad and Bengaluru this year. Agreements have already been signed with the land owners in this regard. We will start a new project in Bachupally near Miyapur Metro Railway Station after getting RERA approval. We have also applied for a new building permit in Bengaluru. More projects are being planned in areas like Ramanthapur, Kollur and Gajularamaram in the city.
– Gummi Ramreddy, Vice President, CREDAI National
Great opportunity for buyers
As people are confined to their homes in the wake of lockdowns, buyers are giving priority to modern amenities while buying flats in new projects. This has increased the demand for premium homes. Spacious homes, luxurious lifestyles and special amenities have become a major factor in increasing property sales. Although Covid second wave dwindled the interest of home buyers, everything started falling in place ahead of the New Year and Sankranti festive season. Sales have increased considerably. Due to the pandemic, all sorts of precautionary measures and protocols are being followed strictly. In the light of the experiences encountered in the last two years, the real estate sector is well prepared for the future. Hopefully 2022 will be positive in all respects along with a steady recovery.
– Prem Kumar, Executive Vice President, NAREDCO Telangana
Skyscrapers.. New trend in 2022
The year 2021 was good for the construction industry and we are moving ahead towards new beginnings and opportunities with a positive outlook for 2022. Skyscrapers are becoming the current trend in the Hyderabad realty market. Home buyers are preferring spacious homes, luxurious lifestyles and unique amenities in these developments prompted a gradual rise in transactions. With vaccinations underway rapidly, the consumer interest came back. Omicron is also not as effective. Expecting normal days and seeing India grow in global markets and Hyderabad tops it. I Am looking to welcome 2022 with a ray of hope to see a steady growth in our construction sector by adapting innovative digital marketing, construction technology and timely government reforms.
– Mr Ramarao, Vice Chairman, Sumadhura Group
