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.
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