Owning real estate has been a tried and tested method of investing and building wealth for generations. However, there is one city in India where owning open plots could mean sitting on a potential goldmine: Hyderabad.
Growing at a fast pace and well on its way to becoming a smart, futuristic city, Hyderabad is attracting investments in open plots for one main reason: infrastructure development. In addition to its recent history, the city’s plans for the future also contribute to it being such a desirable destination for investment in real estate in general and in open plots in particular.
The City of Pearls…and IT!
A historic city, Hyderabad is now known around the world for being an IT hub. It is home to innumerable start ups as well as established IT companies. This means that there is an ever-increasing need for skilled professionals in the city which in turn leads to a demand for various infrastructure facilities ranging from housing to public transport and healthcare to education. To accommodate for the demand of all these amenities, Hyderabad needs to expand. And expand it will, into the open plots in and around the city.
Housing, Public Transport and Other Civic Amenities
Due to the robust economic growth of the city, civic infrastructure like roadways, flyovers, metro lines and commercial zones have seen and will continue seeing tremendous growth. Therefore, plots in Hyderabad that fall in the areas primed for development also see appreciation in prices as government agencies and private players look at them as preferred targets to capitalise on the growth of the city and business respectively.
The Impact of Infrastructure on Real Estate Prices in Hyderabad
The urbanisation of any area brings large amounts of money as investment and Hyderabad is no exception. Government infrastructure projects like the Outer Ring Road (ORR) and the expansion of the Rajiv Gandhi International Airport have made the localities in and around Hyderabad more accessible than ever. And airport connectivity and expressways cause more infrastructural facilities to spring up. The creation of hospitals, schools, and colleges around newly developed areas makes open plots in these regions more desirable for residential development. Proximity to these essential services is a key factor for buyers and developers.
What Next?
The Hyderabad real estate market trends have been driven by the rapid development of the city. As Hyderabad grows and the focus on sustainable development increases, HMDA-approved plots of land in the city will also see changes in zoning laws. Plots that were previously classified as open land may now be reassigned to green residential and commercial use that will drastically increase the value as well as the prospects of the land. Builders and developers may also buy up land in speculation of development and therefore be willing to pay more for the land than what it was previously worth. For landowners, this means getting a good deal for their property while making way for the growth of the city. And with the help of real estate specialists like the TMR Group, those wishing to buy this land get expert advice on the real estate trends in Hyderabad as well as advice on buying the best plots in the city.
And that’s a win-win situation for everyone!