With political uncertainty a thing of the past, realtors expect real estate prices to boom in Telangana, particularly Hyderabad, over the next six to eight months, Confederation of Real Estate Developers’ Associations of India (Credai) national president C Shekhar Reddy on Thursday.
“The sector is poised for a meteoric growth as the state government is actively promoting ‘Brand Hyderabad’ and is also looking at transforming the city into a ‘Global Smart City’. Based on the present rock bottom prices prevailing in the city, our expectation is that prices will increase by 40-50% in the next six to eight months,” Reddy, during the curtain raiser of Credai’s Hyderabad Property Show-2014, which will be held from August 29 to 31.
Reddy pointed out that a hike in real estate prices seems inevitable as there has been an increase in the input cost, taxation and inflation and the prices in the Hyderabad have remained low as compared to the soaring realty prices in other southern cities like Chennai and Bangalore. “There has to be some correction in real estate prices in Hyderabad. When correction takes place the prices will go up,” he added.
Via : TOI