As signs of recovery are being witnessed in the Hyderabad property market, R Ashok Swaminathan, director of Modi Builders & Realtors Pvt Ltd, suggests a look-east tip to developers for better returns. Here are excerpts from his interview with Express:
How is Hyderabad property market doing now?
It looks very promising now, thanks to the efforts of Telangana government to bring back focus on Hyderabad. Sings of recovery are evident and we hope that within the next six to eight months, the city property market will buzz with activity.
Which areas are seeing good activity now?
West Hyderabad comprising Hitec City, Madhapur, Kondapur and Gachibowli is still the most preferred area where new launches are being made and sales taking place. Of late, East Hyderabad is emerging as another good destination.
What makes East Hyderabad an emerging destination?
East Hyderabad has long been in demand due to the presence of companies such as TCS. Uppal, LB Nagar, Nagole and some other areas have the necessary infrastructure and many residential colonies are located there. With the government turning its focus also on Yadagirigutta’s development, areas on either side of the Hyderabad-Yadagiriguta highway are also coveted.
How bright are the prospects of growth along the highway?
It will be unsuitable for first-time home buyers but it will be opportune for investors. This is because the gvernment is doing whatever it has promised on Yadagirigutta’s development. The Warangal-Hyderabad highway also holds promise. Cross check the authenticity of title deeds and investing in property along the Hyderabad-Yadagirgutta road is a long term investment. Transactions have picked up in areas like Ghatkesar, Pocharam.
What are the other promising destinations for investors?
We expect growth even in North Hyderabad in areas like Shameerpet and Medchal but it might take some more time for the growth to manifest.