HYDERABAD: Builders and realtors of the city have been on a high after the announcement of relaxation of rules and incentives for the sector. C.Prabhakara Rao, president of Telangana Builders Federation, explains the reasons for the positive sentiment in Hyderabad realty. Here are excerpts:
Is Hyderabad realty really picking up?
Yes, at an encouraging pace.
What has contributed to the positive momentum?
The main reason is the end of the uncertainty. TS government’s policies have brought Hyderabad back on track. It is presenting Hyderabad as a world-class city best for living, doing business and investing in. With government introducing schemes, more and more companies are eyeing Hyderabad.
The government is making claims on wooing investors. What is the ground reality?
If the government comes up with an announcement on some industry or project in some area, it might take some time for the actual work to start. But irrespective of the time taken to set up a specific project or complete it, the realty sector will benefit since the demand for land and homes in the surrounding places picks up immediately.
What about the recent sops for the sector?
The sops have brought cheer to the realty and building sector in Hyderabad. We are expecting a positive trend from now. While the government has accepted most of our demands, it has formed a committee to consider other demands. We hope that even the remaining demands and recommendations will be met.
Finally, what’s your advice to home buyers?
The Hyderabad realty market is picking up. Most of the unsold inventory is being cleared now as the demand for homes has risen. Land and home prices in the city are very reasonable and are lower than in Vijayawada and Vizag. It is always a better investment decision to buy a home in Hyderabad. Also this is the right time to buy a home as prices may increase after six months.