Growing affinity for villa & plotted projects in Hyderabad
Indian realty has faced multiple headwinds in the past years, but none of those was as disruptive as the COVID-19 crisis. Many of the homebuyers’ preferences are now shifting towards homes which can accommodate a small office set-up and provide open spaces. Critical factors considered by home buyers today in Hyderabad is cost, travel time, ease of travel & open space, and they are willing to pay a premium for properties of reputed developers.
With property prices currently being at lower than most competitive locations in the far peripheral western corridor, Shankarpally & Mokila corridor proves to be a location that cannot be ignored by home buyers especially in the villa and plotted development category. Whilst buying a 3 - 4 BHK villa in Kokapet, Narsingi, Tellapur & Puppalaguda which may cost upwards of INR 6 – 10 crores, a plot nearly admeasuring 400 to 450 sq. yards in Shankarpally & Mokila would be sub INR 1 crore.
The unprecedented COVID-19 outbreak has proven to be yet another crossroads for the residential real estate sector. Basis interaction with developers & end-users, we have noted key emerging trends in the residential sector.
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