“Infrastructure projects, coupled with quality offerings by industry players, will continue to position Hyderabad as a lucrative market for investment,” believes Rakesh Reddy, Director, Aparna Constructions.
In an exclusive interview with RoofandFloor, he spoke about the real estate market in Hyderabad, upcoming projects, and his company’s focus on quality.
Here are a few excerpts:
How is Hyderabad’s real estate market positioned currently?
The Hyderabad real estate market has witnessed gradual growth over the last few years.
While cities like Delhi, Mumbai, and Kolkata are stabilising after the introduction of several new policies, Hyderabad has been growing consistently.
What are some ongoing infrastructure projects that are likely to impact residential real estate in the city?
Hyderabad’s real estate market has grown more in the western part of the city. Madhapur and Hitech City were the initial centres of development. However, regions like Nanakramguda and Gachibowli are now witnessing significant progress.
Some of the recent infrastructure projects are:
- Building underpass and flyovers for traffic decongestion
- Inauguration of Medchal Interchange
- Illumination of the ORR stretch from Gachibowli to Shamshabad
Some of the ongoing key infrastructure projects that are expected to give a push to the overall realty market include:
- Construction of the River Musi Expressway
- Extension of the Hyderabad Metro Rail from LB Nagar to Ameerpet and, in the future, from Falaknuma to the Hyderabad International Airport
Additionally, the government also has identified 52 major junctions in the city to be developed as signal-free junctions
Further, the Telangana government has also proposed an investment of over Rs 20,000 Crore for infrastructure development in the city.
As more industry hubs, integrated townships, and transport centres find their home in Hyderabad, the demand for residential real estate will continue to increase.
Do you think recent policy changes like RERA and GST have succeeded in instilling confidence in buyers?
Policies like GST and RERA were introduced to build transparency and provide much-needed trust. In the pre-policy intervention era, the sector was highly fragmented, and buyers were very vulnerable.
With stringent rules and guidelines in place, only serious players are operating in the market, thereby making the buying environment more conducive for homebuyers.
What are your views on Housing for All by 2022? How does Aparna Constructions fit into it?
For a country like India that is racing towards becoming the fastest-growing economy in the world, creating financial stability for its people is a key step. Even today, investing in real estate is related directly to financial stability in our country.
With a vision to be a strong partner in the Indian government’s vision, Aparna Constructions plans to build around 4.5 million sq. ft. of affordable housing to address the market needs. These units will be priced in the range of Rs 30-50 Lakh.
What is your market differentiator?
The quality of our properties is one of the key market differentiators. Further, our customer-centric approach, robust engineering, in-house research, and uncompromising business ethics, combined with continual property appreciation for our buyers, have made us a preferred real estate brand in the region.
How do you expect the second half of 2018 to be? Tell us about your upcoming projects.
The second half of 2018 will continue to build on the momentum generated so far. Some of our upcoming projects are;
- Aparna Sarovar Zenith in Nallagandla
- Aparna One in Shaikpet Jubilee Hills
Do you think this is the right time for homebuyers to take the plunge? If yes, why so?
This is the right time to invest in real estate as the prices will only move northwards from now on. The recent announcements by the RBI and MoUD to strengthen the offerings under PMAY have further strengthened the buying environment.
Lastly, your advice to our readers.
Before buying, it is pivotal to evaluate your individual needs and align them with the industry offerings. Buyers should not only account for their immediate needs while buying a home but should also consider futuristic requirements to make the best buying decision.