Hyderabad Real Estate Market Balanced for a Correction

The Hyderabad Real Estate market is lastly seeing a correction, leaving behind the poor times, acknowledge reputed real estate firm Knight Frank India’s latest report. Knight Frank India has recently released the report on housing sector in 2015. The report was prepared after studying the reality scenario in the main cities in India. Good thing for Hyderabad is that the industry is poised for a correction.

"The demand for property in Hyderabad segment exceeded supply in the city in the second half of the year 2015. As a result, the unsold projects have decreased. The Even office market is in a unification mode as the demand for commercial space also rose in the city. As a whole, the unsold properties in Hyderabad market has been untangling, which shows the city Realty is on a way of correction," said Vasudevan Iyer, director of Knight Frank, Hyderabad.

Due to the correction, Hyderabad market’s unsold properties were at its lowest at the beginning of the year 2016 when compared to the situation in the past five years. According to the report, Hyderabad office market shifted gears in the second half of 2015 by engrossing 3.1 million square feet, posting the strongest half-yearly absorption numbers in its history. The reason for the increase in commercial space consumption is that many MNCs see Hyderabad as a commercial and IT office space center point which affords quality space at lower prices. Even after the generation of Telangana, growth did pick up, owing to an overall inactive Real Estate sentiment across all over India. When compared to Bangalore, Chennai, Pune, other key IT hubs Property price in Hyderabad are much less.

Many reputed MNCs like Google, Salesforce, Qualcomm, and JP Morgan have captured the vast mass of commercial and office space here. Though the position in the residential market is not as active as in his situation space part, strong demand during last 18 months does point to a possible improvement in domestic market fundamentals in upcoming months. A correction has to occur in any real estate market which sees a sudden rise or fall or rush. Hyderabad realty market has been picking up over the past six months, and we confidence that a correction in the market will profit it, says Gummi Rami Reddy, chairperson of Confederation of Real Estate Developers Association, Hyderabad chapter. With vacuum levels decreasing, even the rental part is set to witness a growth, much to the relief of investor’s property and owners in the city. With an estate buyer demand growing experts believe that the market will incline more and more towards building apartments in Hyderabad as a preferred investment option for prospective buyers.

Rahul Kumar has an excellent Knowledge about investment in Indian Real Estate industry. He passionate about writing about Real Estate market and investment for more details you can check out his latest articles on http://www.buyproperty.com/articles.