The prices of house sites have appreciated in Hyderabad at least two times in the past five years. For example, a square yard on Srisailam road now costs Rs 10,000 as against Rs 3500 three years ago. In Nandigama, near Vijayawada, a square yard now costs Rs 20,000 as against Rs 10,000 in 2018. There is an appreciation in prices of house site prices by 20-30 per cent after the auctioning of land by the HMDA in Kokapeta. On the whole, irrespective of Covid-19, about 50-60 per cent appreciation in land values is predicted.
Disclosing this to Real Estate Guru, Subha Gruha Project Director Kalyan Chakravarthy said that the house sites on the outskirts of Hyderabad are much more affordable when compared to house sites in other metropolitan cities. He ruled out any slump in realty sector in Hyderabad. In fact, the realty sector in Hyderabad is progressing.
He said that the sale on properties in Visakhapatnam and on Bandar Road in Vijayawada have picked up. The real estate firms, which suffered during Covid second wave, have showed progress in sales after the government lifted the lock down. The Kokapeta auction of lands positively impacted the realty prices in Hyderabad by 20-30 per cent. Its impact can be seen from Kolluru and Sadasivapet.
An acre of land in Kolluru was once sold between Rs 8-10 crore. Now an acre sells there at Rs 15 crore and more. In Nandigama and Pathancheru, an acre that costed Rs 2.5 crore now sells at Rs 4 crore. In Sangareddy, the price being quoted is Rs 1.5 crore as against Rs 1 crore earlier. In fact, the purchasers are vying with each other to grab the house plots. But the appreciation is not uniform everywhere, he said.
Four ventures
The Subha Griha is developing four ventures in Hyderabad West, Medchal and on Srisailam Road. In fact, 50 per cent of the customers constitute software employees, while 25 per cent are NRIs. Other customers include traders, government employees, and private sector employees and so on. In our housing ventures, the Subha Griha quotes Rs 20,000 a square yard in Bhanuru, while it quotes between Rs 10,000 and Rs 20,000 in Pathancheru and Sangareddy, Rs 10,000 in Lemuru on Srisailam Road. As the RERA was angry at pre-launch projects, such projects are dwindling.
Good prospects for properties on Bandar Road
He said that the Subha Griha developed over 95 lay outs in Telugu states. In AP, it developed three layouts in Vijayawada and four in Visakhapatnam. One should spend Rs 10,000 per square yard in Mangalagiri, Tadepalli, Namburu and Kakani areas in and around Vijayawada. However, there is some fluctuation in prices of properties on Bandar Road in Vijayawada. In Kankipadu and Vuyyuru, a square yard is being quoted between Rs 5000 and Rs 7000. On Gannavaram road, a square yard sells between Rs 5000 and Rs 10,000. This is attributed to free accessibility to vehicles on Vijayawada-Bandaru national highway.
The situation better in Vizag
The real estate sector in Visakhapatnam improved a shade better on the prospects of location of executive capital in Visakhapatnam. However, compared to earlier times, the real estate sector is not better. But on the whole the situation has improved to an extent in Visakhapatnam.
The sale of properties on Bhogapuram Road, Anandapuram, Madhurvada, Bhimili, Tagarapuvalasa areas has picked up. In these areas house sites can be bought from Rs 8000 per square yard onwards. In Anandapuram, a square yard costs Rs 15,000, while it ranges between Rs 10,000 and Rs 12,000 inn Bhimili and Tagarapuvalasa areas. The house sites cost Rs 15,000 per square yard on Anandapuram-Pendurti Kotha Road.
Subha Gruha has been contemplating to launch a villa project beyond Simhachalam.
In Hyderabad the plot cost will go up further. There is no scope for their decrease. Land has become premium here. That is why the land cost is increasing with each passing day. In this backdrop, the time is ripe to invest in house sites.
Beginning of the journey
With the objective of offering permanent addresses, Subha Gruha was launched in 2004. Since then, it developed over 95 layouts developing over 2000 acres. With the permission of the RERA, the Subha Griha is developing four ventures in Hyderabad, three in Vijayawada and four in Vizag.
