At the half-way stage of 2015, real estate developers and researchers across the city are analysing the growth witnessed in the real estate industry and while the progress made thus far has been underwhelming, realtors remain optimistic. In a freewheeling chat with Express, P Dasharath Reddy, president, Telangana Real Estate Developers’ Association, speaks about the industry in Hyderabad.
How would you assess the progress made by real estate sector in Hyderabad?
The progress has been steady so far. The Telangana government has taken positive measures to boost the sector. With large companies, including Amazon, Google and Uber, setting up offices in Hyderabad, there is a lot of positivity. Slowly things are picking up and prices will also start to go up slowly.
What are the prospects in the residential sector?
As far as residential sector is concerned, depending on the location, expectations and rate, the market will move. The thing is, now the end-user is looking for smart houses with good designs and the price range of 40 lakh-65 lakh is more comfortable.
Why most of the commercial and residential activity is concentrated in western quadrant?
Yes, we have seen a lot of activity in the west zone because of IT and ITeS industry and because of the financial district. Apart from the west side, apartments are moving even in the east and north zones.