- Paradoxical statements on real estate sales confuse buyers
- Wait-and-watch attitude poignant among buyers
- Anarock Consultants say the sales are high in Hyderabad market
Realtors’ bodies CREDAI Hyderabad, CREDAI Telangana, TREDA and TBF have conveyed to the state government, in a memorandum, that there is a slump in realty sector sales. Revision of market value of lands upward, Covid new variant, UDS and Pre-launch sales have a dampening effect on realty sector of the city. In connection with upward revision of market value of lands, realtors’ bodies have submitted memoranda to CM KCR, KTR and Chief Secretary Somesh Kumar contending that the realty sector is dire straits. TBF held a media conference and urged the government to either put off the upward revision of the market value of lands or reduce registration charges.
In sharp contrast to the realtors’ bodies, the Anarock Property Consultants, in its report, contended that the realty sales have increased in 2021. The people are in a dilemma whether whom they should believe : the realtors’ bodies or the Anarock Consultants? The realty sector in Hyderabad, compared to seven metropolitan cities in country, occupied second position in launching of projects and first position in sale of properties. Encouraged by the increased sales, realtors have launched their new projects at fast pace. In the fourth quarter of 2021 saw the momentum in project launches.
The hike in market value of lands affected six months ago and also the hike in registration charges have proved to be counter productive for realty sector, the builders’ associations say. Who will verify these claims and bringing out truth for the benefit of people?
CM vouches for realty boom
Like any other sector of economy, the real estate sector also reeled under the impact of Covid-19. However, it recovered at an alarming rate and is back on rails. Especially the realty sector in Hyderabad is booming, according to Anarock Property Consultants. Going by Anarock’s report, is it not true that property unit sales increased? What is wrong in state government increase land prices when the situation is so conducive for real estate growth?
Chief Minister K Chandrasekhar Rao, at a media conference held recently, noted that the agricultural land prices have increased enormously and at some places an acre of land costs Rs 1 crore. At some places, a villa is being sold at Rs 20 crore. Contrary to this, realtors bodies say that the market is not booming. The prospective buyers of property have adopted a wait-and-watch attitude to buy properties, confused over the claims and counter claims. At least now, organisations like Anarock Property Consultants should come out with realistic reports so that the prospective buyers would be able to arrive at right decisions.
Will the realty boom increase?
The Anarock Property Consultants has predicted that the real estate sector will gallop further in 2022. It concluded that the real boom in the city is due to socio-economic growth in the city and better infrastructural amenities and affordable prices. Realty sector growth in Amaravati, capital of Andhra Pradesh, taking back seat became a plus factor to the Hyderabad realty, it analyzed further. Investors and developers have inclined towards Hyderabad realty as the realty in Amaravati remained static during the past four or five quarters. Series of measures initiated by government, IT hubs, industrial growth, development of infrastructural amenities put the realty sector in a highly advantageous position, Anarock concluded. The realty sector in the city is galloping not only in domestic sector but also in commercial realty sector. The same pattern will continue during the subsequent quarters too, it felt.
