Hyderabad: The city’s real estate market has got a boost as the demand for fresh housing units is rising. This is because of the low rate of interest.
Demand for real estate increases in Hyderabad even after Covid | Photo Credit: PTI
This factor, accompanied by the unchanged repo rate, is an incentive for the middle class, realty experts told The New Indian Express. The low rates of interest is a chance for the middle class, who can weigh their options to either buy a house or stay on rent, G.V. Rao, president of the state’s Developers Association said.
A few other experts said that the state has better floor space index rules, which assist in keeping property rates lower than that in other states. The demand for residential complexes is at its peak now despite the Covid situation.
Sandip Patnaik, MD of Hyderabad, Jones Lang LaSalle said, “Though the prices have gone up by 15-18%, I think the overall scenario of residential properties in Hyderabad is very robust.”
In the last month alone, registrations were at Rs 950 crore, said V. Rajasekhar Reddy, general secretary of CREDAI in the state. With land value increasing across the state and scams worth hundreds of crores coming up, a land army has been asked for the protection of government, assigned and Waqf lands.
Kind Courtesy by: Times Now News
