A dull period is continuing in the realty market of Hyderabad
following bifurcation. While KCR administration hoped that the people of
Andhra staying in Hyderabad will eventually reconcile themselves to
bifurcation and invest in realty sector here once again, their
expectations are going wrong.
Bookings are
still lack luster. Andhras who until recently looked nowhere else other
than Hyderabad are now reportedly investing in hometowns. Rather than
areas like Hi-tech city, Madhapur, Gachi Bowli and Manikonda etc they
are now settling down for good.
They are making
investments back in their hometowns in Andhra. There are reports that
people who have benefitted very much from the drop in prices are fellow
Indians mainly from North India who form a significant chunk of the
North Indian population of Hyderabad in the IT sector.
For
them, the prices are a boon since they cannot make such purchases at
the same prices in Northern India and places like Pune, Mumbai etc. But
it is being said that money Andhras invested in Hyderabad was always
significant and no one else can compensate for that boom!
