Home buyers can get best deals in Hyd in 6-9 months: JLL

It is too early to gauge impact of passage of Telangana Bill on real estate industry

Real estate services firm Jones Lang LaSalle (JLL) said that the next six to nine months period offers best deals for genuine home buyers in Hyderabad as home prices would remain stable.

Though it is too early to gauge the impacts of the passage of the Telangana Bill by Parliament on the real estate industry, JLL feels that the brand Hyderabad is unlikely to be overly affected as it is planned to serve as a joint capital for ten years.

“Hyderabad has state-of-the-art infrastructure and is the most developed city in the state; therefore, it will continue to retain its relevance and pre-eminence going forward. Over the next six to nine months, the overall business sentiments in the city are likely to remain stable. Investors may find this period favourable, as property valuations are low and there is still potential to capitalise on this", JLL Hyderabad managing director, Sandip Patnaik, stated in a press release on Thursday.

He said the city will offer the best deals for at least the next six to nine months. As a result, residential sales will rise in the city. Office space occupiers are expected  to regain their confidence for business continuity – a factor that was being negatively affected by the previous agitations. Leasing activity will improve now, and new occupiers will be attracted to the city.

With the formation of the new capital for the Seemandhra region waiting in the wings, Patnaik said there would be new real estate opportunities in terms of the development of the new capital, which would witness immense infrastructural and real estate growth. However, these developments would depend largely on the support of policies and the leadership that would implement them.  

Other key cites like Vijayawada, Visakhapatnam, Guntur, Nellore, Ongole and Tirupati are also likely to witness increases in property prices going forward, he added.