HYDERABAD: The Confederation of Real Estate Developers’ Associations of India’s (CREDAI) Hyderabad Property Show 2021, which is one of the biggest property shows in the country, was inaugurated at Hitex on Friday, after it was postponed in April due to Covid-19 second wave.
According to CREDAI management, the event showcases the best possible choices for residences and work spaces, with over 15,000 properties on display that will suit all the necessities of customers. However, the number of stalls has been reduced from 150 to 100, with wider corridors to maintain sufficient social distancing.
P Ramakrishna Rao, president of CREDAI Hyderabad, said that through this initiative, they hope to amalgamate the properties backed by lucrative financing options under a single umbrella. V Rajashekar Reddy, general secretary, CREDAI Hyderabad, said that presently, the prices of residential and rental real estate are at their lowest, amongst cities with comparable infrastructure. However, this will not stay for very long, he added.
Top developers like My Home Group, Aparna Constructions, Vasavi Group, Rajapushpa, Cybercity, Ramky Estates and Kapil Properties is taking part in the show by displaying segments such as two, three and four BHK houses, villas and sky villas under one roof with a price range between Rs 45 lakh and Rs 5 crore, depending on the locality and type of property.
“It is advised that people wanting to purchase a home should decide immediately and make the most of the wide range of projects from reputed builders. Based on the fundamentals of the city and the plans for future development, the property prices could increase by as much as 30 to 40 per cent in the next few years,” Rajashekar Reddy pointed out.
According to Cybercity Builders and Developers Private Limited, residential property sales have been good, despite pandemic, as people are preferring to have a good houses. “Since there is lot of development beyond Hyderabad, we are bringing three projects in Kokapet and among them, two are completed,” Abdul Waheed, senior manager (sales), Cybercity builders.
On the other hand, buyers said that property costs have gone up in one year. “I came here searching a 2BHK for Rs 60 lakh to Rs 70 lakh in Madhapur area. However, it is costing a minimum of Rs 1 crore now,” said Reshma, who works in a pharma company.
Meanwhile, another prospective buyer, Sandeep, a techie, said that he expected he can buy a 3BHK in Kokapet with a budget of Rs 1.5 crore, but to his surprise, such flats are available only for Rs 2 crore.