Tag: Hyderabad Real Estate

Turnaround in Hyderabad’s Real Estate!

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Hyderabad – India’s Pearl City, has become one of the most popular investments and property-buying/renting destinations today. The real estate market in Hyderabad is robust and clocked a 32% growth in sales in the third quarter of 2022 and a 19% growth in new projects. Additionally, it is also one of the most sought-after office destinations in the country, and as of September 2022, over 104 million sq.ft of office stock was available in the city. Let us understand this turnaround in Hyderabad’s real estate market in detail!

A report by a leading real estate market researcher has highlighted that the strong momentum in demand has generated an uptick in the supply of new residential projects in the city. Around 11,000 housing units were launched, which in turn registered 19% YoY growth during the quarter. Hyderabad also witnessed a healthy surge in price growth, with aggregate residential value moving up by 6% YoY during Q3 of 2022.

Simultaneously, Hyderabad witnessed office space transactions of eight lakh square feet in the commercial market during Quarter 3 of 2022. The report states that the city witnessed new office completions of 33 lakh square feet during the quarter. At an average rent increase of 7% YoY, Hyderabad recorded the third-highest 12 months office rental value growth across the eight leading cities of India during Q3 of 2022.

With a booming real estate market, the peripheries of the city centre have now expanded. Also, new urban projects in the city’s eastern part have contributed to the increase in the real estate market. The growth of Hyderabad as a major employment hub has, no doubt, fuelled this growth.

The IT industry in Hyderabad is one of the most significant global IT/ITES presence. Amazon, Google, Microsoft, and other giants, along with a number of unicorns and start-ups, all call this city their base. With Hyderabad Pharma City in the pipeline, it has grown into a major pharmaceutical and biotechnology powerhouse in India.

The report highlights the Telangana government’s policies have a big impact on real estate in Telangana and the trends across all real estate segments in the state. Various policies of the State government have led to a remarkable turnaround in Hyderabad’s real estate growth over the last few years, apart from aiding in the overall development of the State.

Experts say that this business environment, led by a stable political dispensation, focused policy initiatives, widening infrastructure bases, positive stakeholder sentiments, and availability of a large talent pool is expected to continue to improve in the State.

The boost in real estate is expected to trigger ‘return to office’ sentiments as the effects of the pandemic lessen in the coming years. As such, high-quality institutional supply in the IT corridors would also boost the creation of smarter developments in the city as well as encourage the launch of new projects. Delivery timelines, however, may get impacted as mid and high-end properties will continue to drive the demand is what experts predict for the upcoming year.

Telangana currently accounts for 5% of India’s GDP. The adoption of global and domestic business-focused policies almost immediately after the State’s formation in 2014 has given the state’s economy a boost. Hyderabad continues to rank high on the global standards of living parameters and is the best city to live in India, beating Delhi, Bengaluru, Mumbai, or Chennai.

With unlimited job opportunities and infrastructural advancement, Hyderabad is experiencing a boom and will be the hub of development in the coming years. With TMR Group, invest in plots in the hotspots of growth around Hyderabad today for a flourishing future. Visit https://tmrinfra.com/ today to know more!

References:

https://telanganatoday.com/remarkable-turnaround-in-hyderabad-realty

https://www.deccanchronicle.com/business/in-other-news/300922/hyderabad-real-estate-clocks-32-sales-growth-in-september-quarter.html

How is DTCP different from HMDA?

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You might have heard of these terms – DTCP & HMDA, everywhere whenever you encountered a real estate consultant. Why do they sound so similar? What’s the difference anyway? This blog will elaborate on the details as to why there are two distinct regulatory authorities overlooking the same field (pun, intended).

Let’s begin with knowing what they actually mean – DTCP stands for Directorate of Town and Country Planning, and HMDA stands for Hyderabad Metropolitan Development Authority.

Director of Town and Country Planning

The primary duties and functions of the Director of Town and Country Planning can be bifurcated into three categories – technical statutory functions, technical non-statutory functions and advisory functions.

Technical statutory functions:

  • DTCP prepares General Town Planning Schemes (Master Plans)
  • It is also responsible for the preparation of Indicative Land Use Plans (Mandal Master Plans)
  • DTCP gives all the technical approval of layouts and buildings plans (Group Housing), commercial complexes
  • DTCP is responsible for the preparation and approval of the different type of designs for community and public buildings
  • DTCP approves all sorts of technical clearance of installations (Industries), and road development plans
  • It provides NOC for cinema theatres / multiplexes

Technical non-statuary functions:

  • DTCP is responsible for the allocation of IDSMT funds. The scheme is no longer available as it was already closed in 2005 and the work of approved components are in progress.
  • DTCP sanctions approval of designs for public and community buildings and also suggest variations to the sanctioned master plans

Advisory functions:

DTCP is Advisor to Urban Development Authorities, Telangana Housing Board, Telangana Industrial Infrastructure Corporation, Telangana Pollution Control Board, Telangana Swagruha Housing Corporation and Government on planning matters. It also advises on the selection of sites and services of Municipal Councils.

DTCP overall has certain rules similar to HMDA. Now let’s have a look at the primary roles of HMDA.

Hyderabad Metropolitan Development Authority

The purpose behind which HMDA was set up was basically for planning, coordination, supervising, promoting and securing the planned development of the Hyderabad Metropolitan Region.

The development activities of the municipal corporations, municipalities and other local authorities, the Hyderabad Metropolitan Water Supply & Sewerage Board, the Telangana Transmission Corporation, the Telangana Industrial Infrastructure Corporation, the Telangana State Road Transport Corporation and other such bodies are coordinated by HMDA. Here are some of the many primary roles of the Hyderabad Metropolitan Development Authority.

  • HMDA basically prepares the entire plan for the Metropolitan city. It undertakes the preparation of metropolitan development and investment plan, revision of the plan and prioritizes its implementation.
  • It maintains and manages the Hyderabad Metropolitan Development Fund and allocate finances based on the plans and programmes of the local bodies for undertaking Development of amenities and infrastructure facilities
  • HMDA also monitors and exercises financial control over the budgetary allocations concerning development works made through it to the various public agencies, local bodies and other agencies
  • HMDA creates and manages the Hyderabad Metropolitan Land Development Bank and takes up land acquisition every year as may be necessary for various public uses, township development, infrastructure development, etc.
  • It approves the land acquisition programmes /proposals of the local authorities, other departments and functional agencies in the metropolitan region
  • HMDA acquires any movable or immovable property by purchase, exchange, gift, lease, mortgage, negotiated settlement, or by any other means permissible under any law

TMR Group is proud to have a wide range of plots in Hyderabad approved by both DTCP and HMDA so that our customers can invest in our property without any worries and strongly reinforce the trust factor in the customers. When they get to invest in a plot that gives them a sense of reliability and transparency that TMR Group has to offer, we get inspired to serve even better.

Source:

  1. http://dtcp.telangana.gov.in
  2. https://www.hmda.gov.in
Property Tours in today’s time

Property tours in today’s time

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A property tour is usually done for the purpose of visiting, inspecting, and assessing the property. Property tours help in assessing and authenticating a property in person. There are several benefits of doing a property tour before making a deal. It’s the first and foremost parameter for any kind of property buying and hence it should be considered every time you long for buying any residential or commercial property. In this blog, we are going to have a look at what really makes property tours so significant. 

Helps you compare

While buying any kind of residential or commercial property, one usually considers a variety of other options before locking any particular property. The highly competitive real estate market has a variety of options to offer in a given budget window. Hence, property tours help in assessing a property physically. The size, shape, material used, built and other such aspects can be thoroughly inspected in person when one decides to buy a property. 

Authenticity

A property tour also helps one authenticate the existence of a property at the promised location. It also helps the buyer to know the builder who is offering the property and also helps build a bond of trust between themselves. At times, things differ or are completely different than what is projected in the image or website. Having a property tour makes one eliminate all the doubts and also helps one compare every aspect that is being promised with a particular residential or commercial property. Doing a property tour also helps one see, register construction activity on the project site through which one can also measure or assess the pace, and other details of the project. Also, authenticity in terms of the project’s documentations, are quite necessary to evaluate while you are on a property tour.

Vibe/Vastu

You won’t wish for an awful entrance that leads you to a luxurious apartment. Doing a property tour helps you assess every element of the property thoroughly. The roads that lead you to your dream property, the location, the entrance gate of the property, accessibility, surroundings of the property, hurdles, and all such criterions can be rightly scrutinized when one longs to buy a new commercial or residential property. Apart from this, each location/property carries an aura, a vibe that makes you feel at ease or gives you that portion of solace that you would want to cherish for the rest of your lifetime. And to experience such an element, visiting a property in person or to say doing a property tour helps a lot. Call it vibe or vastu, people do believe in the energy that a particular place carries. If the individual believes to own a vastu-compliant project, making sure of it can only happen by visiting the property site personally. 

Virtual Reality (VR)

Since the outbreak of the pandemic, Virtual Reality (VR) has received an unprecedented response in the real estate industry. Technologies such as VR are helping developers tap their target audience online and make them experience the property through virtual walkthroughs and more. Property plans are created in 3D are mounted onto a technology platform that helps buyers access is it from any part of the world. Buyers are able to visit properties without even stepping out of their homes. However, VR has certain disadvantages when compared to property tours in physical. VR is developing at a never seen before pace but still has not been able to match what the real experience or real walkthroughs offer. Also, as said, experiencing the vibe of a place is not really possible through virtual reality technology. Attempts are being made to include a wholesome experience for such virtual tours and maybe in the future, these VR tours would get closer to what real property tours offer. 

At TMR Group, we make sure that every individual who visits our property ticks off all the parameters that help them make their buying process simpler. With a wide range of properties ranging from residential to commercial to gated community projects, when people visit TMR Group for property tours, they are in for a ride (pun intended).

Challenges and how to overcome them while buying a plot

Challenges and how to overcome them while buying a plot

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Buying land is the most preferred and most reliable form of investment when it comes to investing in the real estate industry. Also, due to the outbreak of the pandemic, demand for plotted developments has skyrocketed as self-owned homes, villas, or row houses, provide better social distancing as compared to apartments. People wishing to buy land for their personal use or as a form of investment have to be aware of certain factors that help make the process of buying simple.

Paperwork

Paperwork can be complex owing to new terms and due to indulgence in never before like experience. However, it is one of the most significant processes to ensure secure ownership of land. The very important paperwork you’ll be needing to take care of is – Title deed. This document ensures that the seller of the property has undisputed legal ownership of the land to be sold. Having a clear title helps you own a property through an authentic process. Be it agricultural land, residential plot or commercial investment plot ensuring no unclear deeds is a must. A clear title deed once received should be checked, scrutinized thoroughly and one must not accept a photocopy of the title deed. The land must be in the name of the seller and must be checked for having full rights to sell the land. One can cross-check the authenticity of the document by running a ‘title search’ on the registration website of the state government. A lawyer can be consulted to ensure the same. Another document that helps you confirm if the land has any legal dues pending is – Encumbrance certificate. One must check the encumbrance certificate for at least 30 years. A resale certificate is issued by the bank which ensures that the seller has cleared all the loans on the property. Having this certificate improves the credibility of land being debt-free.

Land use

One of the biggest risks that buyers usually face is whether they are buying agricultural land or one which is meant for residential projects. Cities often expand rapidly with no master plan and subsume the suburbs including vast agricultural lands. Agricultural lands are usually closer to the city and are priced lower which should be alarming. So, one must check with the revenue office of the zone before one chooses to sign any land deal.

Purpose and location

Different purposes of buying land set parameters for deciding the location. One panning to build a home should strategically lock a location that is near the workplace. A farmhouse or weekend getaway home can be constructed far from the city. One planning to develop the land for commercial purposes must consider hotspots in the city. Varied structures serving various purposes demand different locations and hence one should be clear with the purpose of buying land.

Transaction obstructions

Usually, circle rates do not match market rates of the area and hence land transactions may demand high cash component. This can leave you in a challenging situation as banks may not fund the entire cash required for the transaction, in case you are taking a loan to buy land.

Lack of tax benefits

Banks offer loans mainly for residential plots located within the municipal limits; even there, they offer only 70% of the total value of the land and the buyer has to arrange the rest.

At TMR Group, we uphold the value of transparency to not just have a transaction with our customers but to build an everlasting bond. We understand the significance of legal processes and hence our team ensures that each of our transactions happens through proper guidance. Even if a new buyer is not aware of the terms and functionality, our team members spell each term for them to understand and take steps accordingly to ensure seamlessness. Having premium plotting sites at Hyderabad, we have been able to establish healthy bonds with our buyers who are getting benefitted from their association with TMR Group. Come, join us and multifold your growth journey! 

Why is Property Insurance so important?

Why is Property Insurance so important?

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Your home is your cherished dream. You are totally invested in it, emotionally as well as financially. It is but obvious that this precious dream should be protected.

Property is a high-cost and a high-involvement purchase. Any natural calamity or catastrophic devastation such as an earthquake or a fire can destroy that asset. It can become a target of some socio-political turmoils as well. Hence, in order to protect it from such unforeseen occurrences, wise investors always ensure the security of their property with insurance.

What is property insurance?

A typical insurance plan covers for the loss and damage caused by a fire accident, theft, allied damage, or burglary. Also, you get various plans including landlord’s insurance, tenants’ insurance, content insurance, buildings insurance, etc. Lets’ explore why property insurance is so important.

There are many reliable insurance companies that offer a wide range of features and benefits to their insurance plans. These include discounts, customized options, or extra coverage.

Importance of Property Insurance

Property insurance has a number of benefits. So use your foresight and common sense and avail of this security that will save your trouble in the future.

It covers temporary living expenses

When your insured property is damaged you need to live in another house till it is repaired. The insurance covers the expenses you need for this living period.

It covers loss or damage of assets

In addition to your house structure, the insurance companies also offer coverage against loss or damage of your personal belongings or valuable assets such as jewelry, household appliances, clothing, furniture, and more.

It facilitates easy loan approval

Some financial institutions and banks give fast loan approval to those applicants who have their property insured. It is even in the eligibility criteria of some banks. So having your property insured is helpful in quicker loan sanction.

So if you are thinking of buying a property, make it a point to insure it. For your investment purpose, have a look at the property opportunities by TMR, a trusted name in real estate.