Many projects are facing shortages of water.
As a result, projects are delayed.
After Bengaluru, Hyderabad is also facing water problems. As the summer progresses, the water problem is also increasing. Many parts of Hyderabad are already facing water problems. In this context, experts say that this situation will have a serious impact on the real estate sector as well. As a result of this, the projects will be delayed, and the buyers will have to wait some more time.
After almost five years, Hyderabad’s real estate market has revived. However, just when everything seemed to be going well, water problems started. Due to this, projects are likely to be delayed for at least six to nine months. Some projects may even stop. Problems such as the depletion of groundwater, the drying up of ponds, and the limited supply of private water tankers are seen everywhere. With this, those who want to buy a flat in Hyderabad are reconsidering, said a builder. In fact, almost every job in the construction sector requires water. In this regard, along with bore water, private tankers are also playing a vital role. However, the impact of this on the real estate sector is going to be huge in the wake of increasing water problems in Hyderabad.
According to the latest survey by the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB), around 65 percent of the houses in Hyderabad have dried up boreholes. Another 15 percent of bores are getting very little water. All these are affecting the real estate sector. Projects are likely to be delayed due to a water shortage. If depending on water tankers, the construction cost of the project will increase further. This will put a greater burden on the builders and reduce their profits. Also, house prices will increase, and it will become a burden for the buyers, said another builder. On the other hand, if the project is delayed due to a water shortage, the delivery of flats will also be delayed. This will become a headache for those who have already bought flats. There will be a situation where you will have to stay in rented houses for some time. With this, all their earlier plans will be reversed.
