Hyderabad to Maintain its Affordable Housing Status in 2024

The real estate sector in India saw remarkable growth in 2023. Policy reforms, positive consumer sentiment, rising disposable income and the growing demand for bigger homes propelled this progress, which surpassed the growth rates of previous years and broke all records. 

Hyderabad stood out amid this growth as one of the most affordable Indian real estate markets. The city has retained its position as one of top most affordable for homebuyers in the major metropolitan areas. 

The JLL report projections reveal that Hyderabad’s Home Purchase Affordability Index (HPAI) will reflect the admirable levels observed in the past two years. This will strengthen its position as the go-to hub for prospective homebuyers. The report also highlights that Kolkata and Pune, along with Hyderabad are expected to be the most affordable cities for home purchases.

According to the report, experts predict a 60-80 basis point repo rate cut in 2024. This, along with government initiatives like Telangana housing scheme and Pradhan Mantri Awas Yojana (PMAY) are likely to boost the purchasing power of homebuyers and ensure that their dreams of purchasing homes and investing properties see the light of the day. On the other hand, the market will focus on affordable projects within the reach of the population, solidifying its appeal to potential homebuyers.

Despite the price rise of residential properties in the tech hubs of Bangalore and Pune, Hyderabad is poised to maintain its stand as the most affordable housing market. Hyderabad’s housing market is likely to see robust activity throughout 2024, which aligns with the anticipated cuts in interest rates for affordable housing loans.

Emerging infrastructure is also expected to push for the growth of new suburbs, prompting developers to deliver the best affordable housing projects in Hyderabad.

Despite economic fluctuations in the global market, India’s housing market showed remarkable momentum in 2023. This is likely to continue until the end of 2024, for the sustained growth of the real estate sector. Along with affordability,  health & safety, community living, and sustainability will be the key factors in home purchase decisions.

At TMR Group, we offer affordable plots to build the home of your dreams at various locations in Hyderabad. These open plots at the hotspots of development allow you to uncap a future full of growth and profitable returns. To know more about TMR Group projects in Hyderabad, visit https://tmrinfra.com/ 

Open Plots in Hyderabad

Hyderabad Ranks Above Mumbai & New Delhi As The Most Livable City

For the sixth time in a row, Hyderabad has been ranked the Most Livable City in the Country. The city of pearls has balanced its old world charm and evolved to progress and retain the crown of being the best Indian city that offers top-notch quality of life.

The global consulting firm Mercer, released its Quality of Living rankings last week. This data assesses the practicalities of daily life for expatriate employees and their families across cities worldwide.  The index is based on parameters such as climate, disease and sanitation standards, schools and education, violence and crime rates, physical remoteness, ease of communication, and the socio-political environment of the city. 

For the last five years in a row, Mercer’s Quality of Living report has crowned Hyderabad as the best city to live, in India. The position is contributed to the numerous favourable attributes of the city. Investments in economic and public infrastructure, the availability of a variety of consumables and medical supplies, a large human resources pool, comprising of international and local talent, and many other factors ensured Hyderabad stays firmly glued to the top spot.

The key factors that contribute to this top rank include stability, healthcare, education, infrastructure, quality of life and a thriving socio-cultural environment. The presence of a world-class international airport, air quality, optimal green spaces, an established IT hub that houses global giants, high prospects for job opportunities, and top-notch private educational institutions, makes Hyderabad most livable city. 

With a ranking of 153, Hyderabad has surpassed other Indian cities in Mercer’s Quality of Living City Ranking for 2023.  It is followed by Pune at number 154 and Bengaluru at 156, Chennai at 161, Mumbai at 164 and Kolkata at 170.  

Hyderabad’s ranking reiterates the city’s emergence as a major hub in the country. The standard of living offered by the city, thanks to its affordability, comfortable living environment, and notably lower pollution levels, makes it the preferred choice of people from all over the country. 

TMR Group offers opportunities for a thriving lifestyle in the city of Hyderabad. Our range of DTCP approved plots across the city, ensure you embark of life that’s embraced by high standards and profits. To know more about the group and opportunities for investment, visit https://tmrinfra.com/ 

Hyderabad’s Real Estate Market in huge demand

As a tourist, Hyderabad will never disappoint you. The royal and rustic essence of the old city and the booming IT sector acts as a bridge between the best of both worlds.

In recent years, the city has become one of the biggest job markets of the country. It is home to some of the major IT MNCs, is the headquarters of over a thousand start-ups and is in the process of becoming the World’s Biggest Pharma city. No doubt, the charms of the pearl city have lured many to reside here.

This has in turn fuelled the residential real estate demand in the city. According to a source, the total value of properties registered during the month is Rs. 2800+ Crore, reflecting a 2 percent year on year rise.

Apartments ranging between 25 lakh to 50 lakh have seen a significant 52 percent raise in registrations till the month of June 23. Moreover, there has been an account of 18 percent registration for properties listed below 25 lakh. However, properties ranging over and above Rs. 1 crore have an account of 9 percent, till June 2023.

The demand for slightly larger homes continues post COVID, as properties ranging from 1000 to 2000 square feet have captured as much as 68 percent share of registrations in the month of June 2023.The properties between 500 and 1000 square feet have a share of 17 percent, while properties larger than 2000 square feet maintain a share of 11 percent.

The popularity of Hyderabad has extended to districts beyond the city’s periphery. Neighbouring districts like  Medchal, Malkajgiri, Rangareddy and Sangareddy have seen a rise in residential demand in recent past. These districts have a wide range of properties from budget friendly homes to extravagant apartments, which make them the top choice for home buyers looking for affordable yet luxurious options.

Districts like Medchal and Malkajgiri have emerged as the upcoming locations for investment, with an accounting share of 46 percent with regards to total sales registration, followed by Rangareddy with a 38 percent registration. Apart from the demand for apartments, the city has also witnessed a demand for residential plots, especially in gated communities.

Plots allow for customisation of homes according to your will, are easy to buy or sell, and provide high returns on your investment. Residential plots in gated communities  come with amenities that make everyday living easy and boost the value of your investment. No doubt, buyers today for lands that yield better returns in the future.

At TMR Group, we offer you a gold mine of opportunities for a prosperous future. Our gated plot community- TMR Green Meadows in Chegunta is located close to the six proposed highways and flyovers, for a seamlessly connected future. These well-developed residential plots that complement the Vaastu make the perfect choice to build your home near Hyderabad or make an investment for the future.

To know more TMR Green Meadows or TMR Group, visit https://tmrinfra.com/ today.

Hyderabad: The Top Destination for office real estate sector.

The city of Hyderabad is known for beautiful pearl jewellery and aromatic Dum biryani, and in recent times the IT sector in the Hyderabad. No doubt, the investment in the IT sector has been a boon. For this place has become a hub for many job seekers. The constant encouragement for start-ups by initiatives like V-hub and T-hub has been a source of encouragement to young adults.

In the 1950s when the city started developing, industries such as DRDO, BHEL, HAL, and BEL paved their way for opportunities and expansion. By the 70s though, Pharma and electronic industries were established. However, the 90s experienced a change with a launch of IT industry. It is observed by experts that in the financial year 2023, Hyderabad may surpass Bengaluru in becoming the most preferred city for establishment of various companies.

Firms like Google, Apple, and Amazon have their biggest offices in the city. It is also home to thousands of startups across tech, space and pharmaceuticals. Interestingly, Hyderabad is also the Pharma capital of the country. Brands like Dr. Reddys, Aurobindo, Mankind Pharma Ltd. etc. all have their headquarters here.

The government has constantly undertaken initiatives to expand the city, by giving a boost to both real estate and start-ups. This has contributed to a hand-in-hand growth in development of Hyderabad.

The growth of industries in the city has also sparked interest in the area of development of the commercial estate. Developers are creating larger office spaces for multi-national companies and simultaneously establishing co-working spaces for start-ups, to cater to a large audience base.

According to recent reports on commercial estates, Hyderabad has offered the highest office spaces in India with accordance to 2022-2023. At the end of the quarter, it contributed a whooping 31% share in comparison to the other seven states.

It is also observed that Hyderabad’s real estate witnessed a growth of a massive 19 % growth in sales volume with over 8000+ units being sold in the first quarter of 2023.

Looking at the pace at which Hyderabad is growing, commercial and residential areas are having massive potential to expand especially in the regions that has companies established. At the same time, companies are emphasising on the work from office and hybrid working models. This has also in certain ways fuelled the demand for both commercial and residential real estate in the city.

The global recession has slowed down the growth of many industries across countries. But there’s no denying that the picture for real estate in Hyderabad was different.

An investment in land in Hyderabad, in areas like Medchal or Maheshwaram near the industrial belts of the city, will pay off generously in the future. TMR Green Meadows at Chegunta, 30 minutes away from Medchal and TMR Swiss County at Maheshwaram, mark the perfect investment opportunity for a thriving future.

To know more about TMR Group and our projects, visit https://tmrinfra.com/

The State of Affordable Housing Market in Telangana!

The quest for a house in Hyderabad has pushed many white collared employees to the city’s outskirts recently. The local developers describe these outskirts and suburbs as “Hyderabad’s growing residential pocket.” These localities have many under-construction residential projects, which promise everything buyers like; spacious homes within desired ticket size, with a gym, multipurpose hall, club house, swimming pool, and the rest.

But these luxuries all come at a cost: The affordable housing section of Hyderabad, all are located at least 30 km away from the Hi-Tec City’s belt. Here’s why.

Developers have shifted their focus to bigger, luxurious homes; especially after the pandemic. They are only launching mega ventures which come with a base tag of around Rs 1.5 crore in the city centres.

With the pool of affordable homes shrinking rapidly, mid-segment buyers in metropolitans like Hyderabad, Pune, Bengaluru, and even Chennai are pushed to the periphery. This is a phenomenon labelled as the ‘Mumbai-fication’ of Indian cities  by industry experts.

According to a recent report released by market researchers, the share of affordable housing across the top seven Indian cities dropped to 20% during the first quarter of 2023. From the total 1.14 lakh units sold in this period, affordable housing comprised approximately 23000 units. This share was close to 40% a few years ago.

An annual proprietary study released in 2022 had also quoted Hyderabad as the most expensive city after Mumbai. The study noted that the home buying affordability level in the city has declined since 2021.

This leaves the IT and pharma professionals with average paychecks, with no other option but to opt for affordable homes. However, houses in the Rs 50 lakh-60 lakh bracket are at least 30-40 km away from city centres. Hence they are also often left in the dilemma to either commute for hours both ways or pay a fortune towards rent to stay in the city.

On a pan-India basis, affordability  of homes worsened marginally for the first time in 10 years in 2022. Affordability levels had improved even during the pandemic-impacted years of, as the government had aggressively cut policy rates to increase liquidity in the highly stressed economic environment.

Real- estate experts believe that once again the government can play an instrumental role in this. They believe that the solution to this disparity in the realty market lies in revising government policies. The need of the hour is for the state machinery to play the  role of a balancer, and not drive up land prices and make them unaffordable to people.

Despite the rise in home prices, home affordability has only marginally reduced in major cities of the country. The reduced affordability index has also been cushioned by a rise in incomes and growths in GDP. This augurs well for the industry and will help the residential market maintain its momentum.

Open plots in gated communities by TMR Group, with their Never Before Ever After Deals are the ideal investment in the peripheries of Hyderabad. While their location near NH-44 and Outer Ring Road allow easy, stress-free commute to the city, the developmental projects in the vicinity allow ample opportunities for growth. Why invest in apartments, when you can get open plots to build your dream home at the same rate?  Visit https://tmrinfra.com/ today for more details.

References:

https://timesofindia.indiatimes.com/business/india-business/what-happened-to-affordable-house-market/articleshow/99527553.cms?from=mdr
https://telanganatoday.com/buying-home-in-hyderabad-most-expensive-in-country-next-only-to-mumbai