6 good reasons to invest in Hyderabad real estate

Hyderabad, the city of Nizams, has been declared the best to live in multiple times in a row. Optimally, located in South India, situated close to other metropolitan cities like Bengaluru, Chennai, and Mumbai, the city has the most accessible markets. The connectivity of the city is outstanding and is considered a prime requirement for investors.

The economic times recently reported that Hyderabad, the capital of Telangana, is the only metro city in the country where average sales increased by 32% in 2013, 2014, and 2017. Amidst the disastrous environment, only Hyderabad real estate market did not disappoint the investors.

Let’s go through the reasons that make Hyderabad’s real estate sector boom.

REASONS TO INVEST IN HYDERABAD REAL ESTATE

• Emerging It Hub

The IT sector in Hyderabad is responsible for a massive influx of professionals who create demand for investment markets. In the last six years, the capital of Telangana witnessed a drastic shift and emerged as the new Tech Hub of India.

The expansion of the IT hub has led to the new development of new investment opportunities like office spaces, residential areas, and more. With Hyderabad's GDP growth at +8%, the state's economy growing stronger than ever and the game-changing reforms of RERA in the city looks promising.

• Attractive tax benefits

The state offers many benefits to its investors. Recently, the government of Telangana has given a 50% waiver off on the property tax to the homeowners as a Diwali gift. The homeowners in the vicinity of Greater Hyderabad Municipal Corporation tax rebate up to Rs.15,000 while the owners of 141 other municipalities in the state could claim Rs.10,000 tax rebate. 

These benefits could be availed by the homeowners in the year 2020- 2021. While the owners who have already paid the property tax have nothing to worry about as they can claim it in the next financial year. These schemes attract investors and create a win-win situation for investors and developers as well.

• Smart government initiatives

With policies like East and North, Integrated township policy, the government came up with strategic dispersion of the markets that concentrate in parts of the city. Furthermore, these policies help to increase the price of the land in the surrounding areas. Also, 5 IT parks have been approved in these corridors to boost the development. Hyderabad is trying its best to avoid saturation and provide new investment opportunities in prime locations.

• Fast pace infrastructure development

Infrastructure plays an essential part in the development of the real estate sector. The ORR (Outer Ring Road) and Metro Rail Project are connecting the strategic locations of the city. Improving the connectivity of the city, you can reach out to any part with the least traffic congestion. The urban infrastructure has therefore catalyzed city development with the enhanced connectivity. 

• Affordable property prices

One of the most unique features of this city is the affordability and diverse property prices of the Hyderabad market. Hyderabad has low land prices as compared to other metro cities in India. The property prices also vary in different localities in the city owing to the development, connectivity, availability of the properties, and proximity of the IT hub.

• Presence of Blue-chip companies

It is no secret that the corporate world loves the capital city of Telangana. Besides Indian blue-chip companies like Tata Consultancy Services Limited, Infosys, and Wipro, global heavyweights like Amazon, Microsoft, Apple, Google, and more are increasingly expanding their base in Hyderabad.

Recently, American multinational computer software company Adobe Systems has expressed interest to set up an artificial intelligence center in the magnificent ‘City of Pearls’. With employees coming to Hyderabad from around the world, the city’s residential market is all set to experience a boom.

Before the prices begin to skyrocket, the time to buy a dream property in Hyderabad at an affordable price is ideal right now.

Also, Read: What to look for when buying a home in post COVID era.