Hyderabad’s realty market  remains uncertain

Land transactions in Hyderabad’s real estate sector have come down sharply, following the government’s decision to revoke GO 111. All those who competed with each other till yesterday and bought lands are now lamenting about the future of their investments. Those who purchased plots as an investment are unable to sell them. Further, those who gave advances to the builders for purchasing villas are now backtracking. Even buyers who were eager to buy flats in West Hyderabad, have adopted the wait-and-see approach. Thus, the Hyderabad’s realty market is struggling amidst uncertainty after the GO 111 was repealed.

Kokapet is located next to the GO 111 area. The land price in the GO 111 area is around Rs 5 to 6 crore per acre, while in the areas around Kokapet, it is priced around Rs 40 to Rs 50 crore per acre. With the government revoking GO 111 recently, landowners have stopped selling land. They have opted to wait for a while, with a hope to sell lands at a higher rate. But the buyers are hesitating to purchase even in case if anyone is trying to sell for a slightly higher price. They fear that purchasing land for a higher rate would be pointless in case the courts give a negative verdict against the government’s decision to remove the GO 111. They are not ready to wait for much longer period for the prices to increase any further.