The proposed Hyderabad metro rail (HMR) is expected to be a high boost for the real estate in the city. With the arrival of new metro rail the city will have a praiseworthy transportation system.
High quality transportation system will improve the infrastructure of the city. Recent trends prove that people have become more transit – oriented. People do look for transportation facilities around their neighborhood.
While delivering his speech on the occasion of APREDA’s Property Expo -2012, N.V.S. Reddy spoke about his vision. He opined on this occasion that most of the people desire to have low budget homes. He said that majority of the people look for properties below 20 lakhs which have become rare.
He cautioned the increasing land price which causes higher property prices. Land prices in most of the areas have reached unbearable heights. This adds more burden to the people.
On the same occasion Mr. Neerabh Kumar Prasad requested the real estate developers of the state to deliver homes which are affordable to the common people.
However Andhra Pradesh Real Estate Developers’ Association Property Expo -2012 claimed great success. Figures prove that the more public attended this year.
Along with proposed HMR, HMDA is moving ahead with transit oriented development (TOD) in the city. People seek appreciable connectivity. Government can foster the demand with good infrastructure.
Jones Lang LaSalle’s Anuj Puri pointed out the need of creating Tier- II cities. He added that creation of such smaller Tier II cities will reduce the overburden on the Hyderabad city.
If the Tier II cities are having sufficient and appreciable infrastructure, people will surely demand properties there. In such areas the existing lower price will be an added advantage to the people.
The real estate which was facilitated by the festive season was supported by NRI investment. The proposed metro rail seems to be just another reason for the Hyderabad real estate to boom. Recent reports show that the areas near the metro stations are hotter than ever.
