Real Estate Blood Bath in Hyderabad
Not long ago real-estate prices raised daily in IT Hub Hyderabad; Many first time city dwellers who were enthusiastic in living in high-rise apartments pitched in and bought flats at exorbitant prices. The situation is completely reversed in six months.
Downward Sensex, NASDAQ et al
Last two months saw Sensex going down by 55% and as of now it remains @ 8700 (circa 2004). Some of the investors lost almost 60-75% in the downfall. The worries of global markets cemented the belief - all is not well. This made the home buyers think twice and eventually slowed down the Real Estate in Hyderabad
Job cuts in Hyderabad
In the past four months around 15,000 professionals lost the job with Wipro, Satyam contributing a huge share by laying-off engineers in thousands. Some small companies, which were directly exposed to US banking and mortgage shut down their offices in Hitech City completely. This stalled the real-estate growth in Hyderabad and stunned the greedy realtor Sharks
Hyderabad Real-Estate Builders with Huge Loans
Ravichand, an expert in market analysis attributed the Crash in Hyderabad real-estate to the pressure from Banks on defaulters - builders, construction equipment suppliers etc. According to him, around 80,000 crores of loans need to be repaid by the builders (NOT home-loans) apart from another 30,000 crores in mutual funds. This led to steep reduction in prices.
No takers for Big projects
Though a good amount of bargaining is going on for small projects, big projects are without any takers. Aparna Towers, which once quoted 3950/sft have come down to 3000/sft, but left without any sensible takers. Lanco hills is the worst affected - with Telangana state now becoming a reality and with its chairman L. Rajagopal M.P in loggerheads with TRS and Telangana Congress MPs, the project seems to be on a high-risk area.
Rates will further decrease
Rameshwar reddy, who has been in the real estate field for more than a decade feels that 3000-4000/SFT are a thing of the past. The current downward trend will continue till May 2010, and would stabilize around 2200/SFT. If you are willing to buy a flat in Hyderabad .. JUST WAIT AND WATCH or you will pay 1000-1550/SFT extra
Real Estate Crash in Hyderabad
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Hello, hello and hello again... ""Real"" puy in double quotes before and after cannot crash. what heas crashed is the "unreal estate" and hype for a quick buck.
What has crashed is "putting the topi" on each other. Ok, I have property... the greatest "izzat ka savaal" is selling my home, uprooting family and going into strange place. Nobody sells their home. agin nobody sells their home.
What every body has been conned into is trading in houses ... arree bhai "dhanda karna hai? to mumbai jao na - dalal galli me dalaali karo - aur senselessex dekhte baitho" There nobody knows or cares who puts topi on who?
In hyderabad the issues are {1} hyderabad mein temporary rahna hai?" rent a place (2) hyderabad mein aap ke bacche rahenge?" buy a place NOW. Reason simple which "putting topis on each other fellows willl never understand - until they are bald and toothless"
a) what is petrol ka price? b) wha is khane ka price? c) what is jeene ka price ? aamdaani kitna? Rs10,000, 20,000 - 30,000pm? With that kind of money 20 years back you were Lord of all you surveyed with no debts and your kids were kings. Today? you are a joker pretending "real" estate.
You have the money to build your own house or buy a flat for your kids then and then only is ""real estate is real estate"" - If you want to make money by selleing your homes - Don't that is gambling.
Real estate can never crash - people with no brains can jump off hi rise buildings - if they read your blog
When you buy a property in Hyderabad. It is a good investment. Now a days people buy 2BHK apartments in Hyderabad or 3BHK apartments in Hyderabad in the form of an asset which they let out as rent which assures a monthly income. Or they keep it for themselves as an asset
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Interesting information about Hyderabad and thanks for sharing. Hyderabad is the capital of the state Andhra Pradesh, India and known as the city of Pearls. Real estate market plays a vital role in Hyderabad relating to revenue and there are some crashes and hits in some situations which happen in Hyderabad.
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