‘Now is the right time to invest in Hyderabad’

“The sales of houses will only go up in the coming years, and more new projects will begin here. I would say this is the right time to invest in properties in Hyderabad,” he said.

In his words, let us hear about the housing sale scenario and the reasons to buy properties now in Hyderabad.

“It is always a good time to buy property during the festive season. One reason is that property prices are always going up. If you see, in the last two years, we’ve seen an appreciation of almost 80 to 100% from what it was two years ago. We were selling property in Kokapet at about Rs 5,000 per sq ft two years ago, but today we are selling at almost Rs 9000 per sq ft. So we’ve seen a considerable appreciation in property prices in the last two to three years. So, definitely, in the coming years, the prices are definitely going to keep going up, so it is never too late to invest in real estate in Hyderabad.”

“The second reason is that Hyderabad is a growing city. It is being recognised as one of the fastest-growing cities in India. So definitely, there is huge potential for real estate growth in Hyderabad. So it is never too late to invest in buying a property in Hyderabad.”

“The third reason is that during a festive season generally, there is a very positive atmosphere in the household. We all look forward to some sort of investment. Some people buy gold. Some people like to invest in land, some in property, so this is the right time to invest in properties. And generally, during this time, builders do come out with some good offers to entice customers, but definitely this is the optimal and best time to invest in buying a property in and around Hyderabad.

I would always suggest that you not postpone your decision to buy a property again. Property prices are going to keep increasing in Hyderabad every year. We are seeing an increase in cement and steel prices and related material prices. So that is obviously going to increase the input cost or the construction cost for the builder, and eventually that will be passed onto the customer. So, I would suggest that anybody who’s interested in investing in a property go and buy a property at the earliest. In the last couple of months, I have not seen any slowdown despite the election.”

“Also, this season until Sankranti is considered very auspicious, where we see a lot of people coming in and investing in property, and this actually clashes with the election series of this year. But despite the election happening this year, we have not seen much of a change in the buying pattern of customers.”

Poulomi has three projects under construction right now in and around Kokapet, the first being Poulomi Avante, a mid-budget residential project of G+22 floors with about a million square feet of residential space. This is due for handover by year-end. In January, most likely, people will start planning to do the interior work on this project.

We have another premium residential project, Poulomi Palazzo, of 55 floors tall, which is again in the premium segment of the construction. We have over 141 units there on G+ 55 floors, and this is due to be handed over in 2026.

The third project that we have here as an IT building is Poulomi Infinity. That’s again a million square feet of gradient space.

We have another two projects in the pipeline, one of which is coming up in Madinaguda, where we took 24 acres. We plan to construct G+44 floors, and we are expecting permissions by year-end. And hopefully, before Sankranti.
We are in the process of finalising another project in Madhapur, a mid-rise project, which is G+22 floors.

We are also coming up with our first project in the north of Bengaluru. This project is coming up on about 9 acres, a midrise G+22-floor project. And since Bengaluru is, again, a very stable and mature market, this is our first expansion, and hopefully, we should be able to launch this project with the required permissions in the first quarter of 2024.

Rajasekhar Reddy becomes the President of Credai-Hyd

V. Rajasekhar Reddy was unanimously elected as the new president of Credai Hyderabad. Along with him, Jagannath Rao was elected as the General Secretary, Manoj Agarwal as the Treasurer, and N. Jaideep Reddy as the President Elect. Elections were held in Kakatiya hotels for Credai Hyderabad on Friday. All the members of this association elected a new executive committee.

Pradeep Reddy, Murali Mohan, Rambabu, Srikanth, Kranthikaran Reddy, and Nitish Reddy were elected as joint secretaries. A. Venkat Reddy, Jaipal Reddy, Sanjay Kumar Bansal, Amarender Reddy, Sushil Kumar Jain, Morishetty Srinivas, M. Sriram, and N. Vamsidhar Reddy are among those elected as EC members. The newly-elected executive will hold office for a period of approximately two years. In this order, the problems faced by the construction sector are brought to the attention of the government, and efforts are made to solve them. Credai Hyderabad office bearers honoured the old committee members in a meeting held at Kakatiya Hotel on this occasion.