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deadmanswill |
Real Estate Crashes in Hyderabad |
| Happened at: Hyderabad | Category: Real Estate | |
| Published On:September 29, 2008 08:02 | Views:87 | Replies:3 |
| It appears the real estate boom has begun the fall on its roller coaster ride. I had been hearing about slump in the real estate in Hyderabad for quite some time but yesterday I personally witnessed the drastic fall real estate had taken. The real estate prices in the areas of Madhuranager, Yousufguda, Moti Nagar, Kalyan Nagar, Siddhartha Nagar, Rajeev Nagar, and nearby areas have come down crashing. And there were so many to-let boards were hanging about the gates. Last year around the same time, I had to search for a house in these areas for a friend of mine. The prices were stupendous and there were hardly any vacant flats. But this time, I saw 23 to-let boards in Madhuranagar and Moti Nagar alone in a single day. And where the prices used to be about 15,000 for a 2 bedroom flat with decent woodwork, yesterday I found three bedroom flats for the same price. Kalyan Nagar prices had spiked to as high as 16k for a two bed flat last year, but somehow even that locality was content with 10K rent for 2BHK. What is the reason for this sudden crash of the real estate prices? Is it the rumor of the so called 'slump' in the real estate market that is repsonsible? Or is the rapid downsizing by the software and BPO firms doing the trick? Or is the eternal water problem the motivating factor? Perhaps, all of three contributed to the fall in prices. Or perhaps there is some other factor in play. Whatever the reasons, I am happy the prices have fallen. Now I do not have to pay exhorbitant prices for even 10 year old constructions nor would I be turned down flat by house owners just because I am not in the software industry! |
Replies:
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CassAmino | Absolutely, even I found the same in Madhura Nagar area, the rents there are almost nominal. A year back they were exorbitant. | September 29, 2008 08:11 |
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Bond | హైదరాబాద్ లొ 1516 వేల రెన్టా ? అన్త డెవెలప్ అయ్యిన్దా మన హైదరాబదు? | September 30, 2008 22:27 |
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Vishal | హై అనామకుడు, ఏ కాలములో వున్నావు నాయనా నువ్వు? లేదా హైదరాబాదులో నే వున్నావా? | October 01, 2008 12:10 |
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