Planning To Buy A House in Hyderabad? Consider These Factors Beforehand
In the past decade, Hyderabad has emerged as one of the preferred cities of India. After the policy changes of 2016-17, the city has reflected a strong comeback, where the sales for open plots, gated community apartments and luxury villas have risen.
The city is becoming investor-friendly for several reasons. These include growing employment opportunities, infrastructural development, best living standards, political stability, and favourable weather conditions amongst others. All these trends have been reflecting positive signs of growth in the city.
With the establishment of Special Economic Zones (SEZs), which were dedicated to information technology, both national and international companies have been keen on setting up their operations in Hyderabad. This led to increased trade, job creation, as well as growth in the investments. Owing to this, areas near the Hitech City and the Mindspace business park have been in high demand.
The launch of Hyderabad Metro Rail (HMR) has also been a major initiator of growth in real estate sales. The city emerged as one of the most opted locations in South India, which experienced some of the best realty investments. The Greater Hyderabad Area in Ranga Reddy District witnessed 70 per cent growth in real estate.
Top Builders in Hyderabad — Ramky Estates, Ashoka Builders, Modi Builders, Dream India Group and Aditya Constructions — have been constructing several luxurious projects and providing them at affordable prices.
Apart from all the other factors, affordability remains the USP of Hyderabad and its realty market. It is the major factor that has been attracting increasing investments in apartments and luxury villas in the city. Besides, it has consistently ranked as the top city in India for quality of living.
With all the factors being favourable, top builders in Hyderabad have been creating several affordable luxurious properties. This has enabled potential buyers to actually buy a house instead of renting it out.
With an increasing variety, buyers now can choose from a wider range. In India, buying a house is one of the biggest investments. This makes it important for every homebuyer to be aware of certain things before taking the final decision.
A thorough research is an important part of the house-buying exercise. You must consider all the significant factors, including personal finances, market conditions and growth potential. Evaluating the pros and cons before making any investments is crucial.
A check list
Once the research is done, you should make a to-do-list of all the requirements you need in a house. An expert from Ramky Group highlighted that a house in gated communities have greater advantages. Such houses are more secure and offer a spectrum of amenities to the buyers. You must ensure that the house you are about to invest in aligns with your future plans.
You should calculate the amount to be invested in a house, compare it with your assets and plan your finances. Assess the total cost of the property, including all the internal and external expenses. An expert from Modi Builders says that one must look for a highest quality house in their budget. In fact, a pre-approved loan before looking for a house is the ideal situation.
Exploring the location of the house you are about to buy is also significant. Quality of the environment, neighbourhood, basic amenities, and safety should all be looked in-depth. The connectivity of the location also plays a crucial role for living an easy life.
Top-notch and modern amenities add a greater value to the property you invest in. Therefore, you should research for an area that is unique and invest in that. Houses that offer world-class amenities, such as club house, gymnasium, swimming pool, and others, should be preferred over others.
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