'No impact of ongoing uncertainty on Hyd realty'

Association expects city's realty to emerge strong from current uncertainty wave in AP

Property prices in Hyderabad have reached rock bottom and there would not be any further decline going ahead, said Andhra Pradesh Real Estate Developers Association (Apreda). It expects the city realty to emerge strong from the current uncertainty wave in the state.

“Property prices in the city have been stable as it is mostly an end-user market, unlike other metros in the country,” said P Dasharath Reddy, president, Apreda. However, he said the drop in property registrations and enquiries was mostly a ‘temporary phenomena’ and expects it to improve going ahead.

Expressing similar opinion, Chalapati Rao, executive vice president, Apreda, said: “Hyderabad is well off when compared with metros like Mumbai and the National Capital Region, which usually witness high price volatility and huge inventory.”

The newly-announced Rs 2 lakh crore IT investment region (ITIR) in Hyderabad would further fuel the growth prospects of property market here, added Rao.

Apreda on Wednesday announced a property show-cum-conference in the city. The three-day event starts from October 25. This year, it expects more than 50,000 footfalls and around 1,400 property buyers. The event will focus on innovative and precast technology featuring corporate names like Shapoorji Pallonji Group among others.

Optimistic on the city property market, Trivita Roy, assistant vice president, Jones Lang LaSalle (JLL) said, “This year Hyderabad has added two million sft office leasing space and another 2 million sft would enter by the end of this fiscal.”