Hyderabad comes second as the major IT hub in the country. This attributes directly to the city’s significant growth in real estate sector further boosted by it’s inside political stability and the booming infrastructure and economy.

Unlike other cities, such as Chennai and Bengaluru, real estate prices in Hyderabad have not risen in the last five years, which makes it easy to set up business here while expecting a higher yield. The property prices in Hyderabad are 20 per cent of the price in Delhi and 50 per cent of the price in Bengaluru, because of which the city has huge real estate growth potential.

The residential real estate market has also started to see its heydays recently along with the corporate sector, due to the implementation of policies like RERA, explain industry experts at Modi Builders. With rapidly proliferating IT firms, which in turn result in more job opportunities, people are lured to move to the city and seek residential space.

The city being tagged as an affordable place for realty investment, there is an inrush of home buyers every year and this year, it is set to add 14,000-15,000 more residential units, which is the double of last year.

One of the major real estate firms, Aparna Constructions and Estates Pvt Ltd, is said to be building a residential space of 20-25 million sq ft in the city. In addition to that, in the next couple of months, Rajapushpa Properties Pvt Ltd will construct atleast 4 million sq ft of residential area at financial district, Kokapet and Tellapur. The Executive director of the company, P. Sreenivas Reddy said, “Despite the project’s cost being 10-15 percent higher, the homes’ average cost will be 40 per cent lower than those in Bengaluru and Chennai, having similar facilities and features.”

In the year 2018, there were major changes in the residential real estate sector in terms of policy and infrastructure status of affordable housing. If the latter is granted, then the home buyers will be able to purchase at affordable prices, believe Modi Builders’ experts. The real estate industry is expecting Union Budget 2019 to reduce GST rates from 12 to 6 percent. It the GST rates are reduced, the buyers will be benefitted greatly, thus increasing the overall sales as well.