Prefer to own property in Texas, Dallas, or Austin
The ever-increasing prices of land in Hyderabad triggered a debate about whether the development is a boon or bane to the real estate industry. An acre in Hyderabad fetched Rs 100 crore in the recent HMDA auction in Kokapet. Senior government officials describe it as a sign of progress. However, some others expressed the view that it would frustrate the plans of the middle class to own a house in Hyderabad. The Telugu NRIs, who had previously preferred to own a house in Hyderabad, are now planning to acquire properties in Texas at the cost of Hyderabad. They have changed their minds following the astronomical increase in land prices back in Hyderabad. When compared to land prices in the IT corridor of Hyderabad, prices in Texas are down by at least 10%. Therefore, the NRIs from Telugu states are inclined to acquire property there. Similarly, they prefer to own properties in Dallas and Austin too, as the atmospheric conditions there are almost equal to those in Hyderabad. Besides, there is a good work-life balance and good connectivity. Therefore, many people prefer to buy property in Dallas or Austin compared to acquiring properties in Hyderabad.
