Hyderabad goes to next level!

Hyderabad is evergreen
Formula E race in the city after Saudi
Construction of skyscrapers gain momentum
Locals and NRIs investing in Hyderabad properties

(King Johnson Koyyada)

National and international companies invest only in cities with future prospects. Due to Minister KT Rama Rao’s efforts, several such companies have gained confidence in Hyderabad which is witnessing development in all directions. After Saudi Arabia, Hyderabad was chosen to be the first venue for an international event like Formula E Race in India, catching the world’s attention. V Rajasekhar Reddy, General Secretary of CREDAI Hyderabad, said that if all the investment announcements of the companies in Hyderabad are realised, the city’s growth will be unstoppable for at least next 10-15 years.

Talking to REG News about the realty situation in 2023, he expressed hope that areas like Sultanpur, Chandanveli, Pharma City and Genome Valley will develop in the future. Therefore, developers are advised to identify the areas where the demand will increase and focus on building houses in those areas. Excerpts from his conversation.Around 10-15 years ago, people purchased plots at low rates in the suburbs. They are now keen to sell them and live in large luxury communities.

While some of them are only investing, others are buying properties suitable to their native places. For example, people from areas like Jangaon and Warangal are choosing flats in areas like Uppal and Peerzadiguda. People from districts like Kamareddy, Nizamabad and Adilabad are showing interest in staying in Medchal and Kompally. People from areas like Karimnagar, Mancherial and Siddipet are focusing on areas like Shamirpet, Thumkunta and Alwal. NRIs are opting for high-end villas and flats in skyscrapers. But the mid segment remains to be the future of the city. If these mid-segment properties are built according to the need, a large percentage of the middle-class people will come forward to buy them.

We cannot either claim that Hyderabad’s realty market is exploding or remained stagnant. It is natural for the market to be like this during an election year. The builders who have sold the flats so far are now focusing on completing the construction work. It must be noted that those who are in need, are buying houses even today. Two weeks ago, when Vasavi launched new project in LB Nagar, 200 flats sold within two days. On the other hand, some buyers are buying houses in trendy gated communities and skyscrapers, regardless of the regular market

Increased speed

The speed in construction of skyscrapers has increased with the advent of Myvan technology. Some developers are laying each floor in seven to eight days. Earlier slabs, shuttering, brickwork, plastering, electrical connections, plumbing lines etc. used to take a lot of time. But now the work done in five-six phases, is being done in single phase. Companies like My Home, Aparna, Rajapushpa, SMR, Paulomi, Hallmark, and Lansom have their own batching plants. This allows the work to be completed on site and quality is maintained. There are companies that supply readymix to surrounding project sites as well. Thus, the speed and quality of constructions in Hyderabad, has increased significantly.

Must ask for RERA approval

Whether it is a plotting venture, a skyscraper or a villa project, the RERA number must be mentioned on every advertisement. Only by doing that, it can be said that the respective organisation will complete the project as per the rules. Advertising without RERA number is not correct and every promoter must understand this. Buyers should always buy in RERA approved projects. If any advertisement is released without RERA number, they should inquire with the respective promoters. Don’t trust the promoters who try to escape by giving excuses.