Finally The Wait is Over and we are out of the Political unrest. It took long 6 – 7 years of REALTY bloodshed for Hyderabad to finally settle down.
Many Realtors lost few of their prime years where in they could have grown many folds had the opportunities not reduced. Victims of poor sentiments in a Model City which had all the reasons to grow and not see a slow down. But politics can either lead people or lead them no-where. Having said the above, it was also a huge learning curve for all involved in the realty business.
Some found success in the lean period because of locational advantage and some perished because of bad planning and lack of foresight to a certain real demand vs actual supply. The herd of investors were gone but the real buyers and end users still scouted but for a steal. Hyderabad had suddenly become a notional discount house, where people became price sensitive over quality sensitive. Developers struggled with this new buyer type who was not listening but asking for the lowest price thinking this to be the time to get the best deal. Many did succeed to get a great deal out of the developer who were anyways facing cash flow issues but then the project itself couldn’t be finished or got delayed because the inflows didn’t match the developer outflows to maintain standards.
Thanks to the elections and a stable government scenario, things seem promising, market sentiments seems to have improved, our phones are ringing and people are inquisitive and looking to explore realty possibilities again. It has certainly helped investors sitting on the fence for long to now re-look at Hyderabad. Outskirts have started breathing in the last week or so with enquries coming in.
It won’t be long before that the IT/ITES businesses which drove realty in Hyderabad will again be in the drivers seat. Some recent announcements and expansion plans of some IT/ITES giants have already boosted the morale of the city.
The Hyderabadi’s and investors can enjoy the low prices and related opportunities for another year or so after which we will experience the price appreciation/escalation. This is time to seize opportunity at good prime locations before the opportunity shifts a few km’s away from now affordable locations to the next.
Managing Partner – GoodWill Coordinators