How to Start Your House-Hunting in Hyderabad?

 

With several developments in the last few years, Hyderabad has quickly upgraded to an established city with great potential in real estate expansion. Several working professionals prefer this city over other urban areas owing to the lower cost of living, accessibility to essentials, quality fundamentals and harbouring one of the largest IT hubs in HI TECH city.

Wide demography of IT crowd, students, families and people from various communities are observed in Hyderabad. To cater to the citizens’ interests, Greater Hyderabad Municipal Corporation GHMC has made several provisions under the town planning committee to create an integrated infrastructure for the corporate sector and the residential zone.

This has led to a burgeoning real estate market of Hyderabad allowing a multitude of opportunities for residences. With several options, finding the right space for yourself can get strenuous, which is why we have compiled a few factors to assess before narrowing down to a house:

Locale

Hyderabad is a vast spread of abundant land where every individual needs can be met provided that you chose a suitable location for personalised requisites. While the old city charm is a thriving beauty of the “city of pearls” sustained for decades now, the other divisions of Hyderabad have been developed into highly functioning inner-city areas.

However, with the introduction of the IT sector, the state government of Telangana commissioned HITEC city to promote Information Technology in Hyderabad. Soon an entire township integrating giant corporations of the tech world like Google, Oracle, Amazon, Flipkart, Infosys, Accenture, and many more were formed as the nucleus of the city.

Also known as Cyberabad, this is the most feasible locality for working professionals and people who have migrated from other states. The residential projects around HITEC city are designed in accordance with ease of commute, provisions for quality fundamentals, and a modern lifestyle.

The strategic road connectivity makes it easier to access airports, railways, and other modes of transport for swift travel plans. This HITEC city has also adopted advanced technology and digitization for easier operations throughout these areas.

Similarly, you can evaluate an area based on the factors that provide the best facilities, accessibility, and a feasible lifestyle.

The Cost of Living

Most metropolises in India suffer from over-inflated prices due to increasing demands yet not enough space to accommodate these requirements. Hyderabad has managed to not only provide ample space for people from all socioeconomic and inter-cultural backgrounds but has also sustained the cost of living well within means.

Once you have finalised a location, calculate the economic structure of that place. That includes:

-       Cost of the daily commute

-       Estimated monthly expense on groceries and other essentials

-       Average rent around the area

-       The market price of various functional services.

-       Miscellaneous expenses, recreational expenses etc.

All this entails an average expected standard of living of that area that will help you decide whether it is conducive to your budget.

Quality of Fundamental Services

With such unpredictable times on our heads, it has become more important now than ever to be able to access quality fundamentals around you such as hospitals, emergency medical aid, security services, legal services, and other services for other urgent requirements.

Since HITEC city is a highly developed residential and corporate zone, all the fundamentals around the vicinity guarantee the best services. Also, financial institutions such as banks, investment companies, financial advisors, ATMs are all abundantly available around HITEC city.

International schools, top-tier universities, and educational institutes are established in the vicinity.

All these factors make up for the property value of the place. Which is one of the reasons why real estate developers strive to provide new residential projects in Hyderabad that can complement this lifestyle.

The Real Estate Market

Hyderabad is divided into seven divisions with each including major suburbs that have varied property values. You have to evaluate an area based on its property value to get an estimate of how your real estate investment would flourish in the long term.

For reference, HITEC city has cemented its reputation as a consistently expanding area due to the burgeoning IT sector, which is why it is considered a safe investment for residential projects as well. Numerous residential projects are introduced owing to this upsurge demands.

Among such new residential projects in Hyderabad, Aurobindo Realty has introduced Kohinoor HITEC City that caters well to the working crowd with luxurious apartments at such a prime location.

To summarise:

Divide your checklist into categories such as locality, budget, property value, cost of living and the services provided to make a calculated decision for purchasing a house.