This year is expected to be a great year for buying property in hyderabad and across India as well. Last year has been exciting with plethora of government initiatives, like the passage of the Real Estate Regulatory Bill in March 2016, notification of the Benami Transactions Bill in August 2016 and the announcement of the third list of smart cities in September 2016.
All these initiatives brought a positive change with more transparency, better regulation and less cash-dominated real estate market. However, the buyer must keep in mind certain key pointers related to the property class, key developing areas, as well as growth potential of the property.
In residential arena, the key factor before buying property is to check the developer reputation in the market. Buyer should thoroughly understand prior delivery record, commencement certificate, environmental clearance, approved building plans and status of the land title. Most importantly, buyers should continue to negotiate for a better deal for his money.
With demonetization move, cash transactions has taken beating and we hope to see a gradual revival of genuine buyer interest in residential markets, especially in resale and primary markets. Best areas to buy property in Hyderabad, one should consider investing at Gachibowli, Tellapur, Nallagandla, Miyapur, Chandanagar and Kondapur.
Real Estate Regulatory Bill likely to improve sentiment among middle class home buyers looking for affordable housing property in Hyderabad