Real Estate in Hyderabad takes a big dip!
The state bifurcation process has badly hit the real estate business in Hyderabad. Amid huge confusion and lack of clarity regarding the safety of Seema Andhra people in Telangana after the bifurcation. Several Seema Andhra families who have planned to buy plots, flats and houses in the city are having a second thought. A realtor in Gachchibowli region says, “The rates did not go down. But people are hesitant to buy and at the same time we are holding it with out lowering the prices. We can not hold them for too long as interests will go up. We will have to see if there is going to be a change”.

Rayudu who is currently residing in Pune wanted to buy a flat in Mankonda region but now backed of. “I tried buying this flat as investment. Also paid a token advance of one lakh to the owner. But now I closed the deal by losing the advance”. Explaining the reasons, “I do not want to put my hard earned money at a place where my future will be uncertain. I am planning to construct two more floors at a building we possess in Kakinada (East Godavari).” Rayudu’s opinion coincide with several Seema Andhra people in Hyderabad.

Venkatesh, a techie working in the city also have a similar issue. “Its my dream to own a house in Hyderabad and I thought I am very near to achieving it. But now I am totally against it. Will stay in rented house as long as my job permits in Hyderabad. Will have fixed assets only in my home town”. Real Estate Experts are of the opinion that the incoming government should give a lot of confidence in the settlers to make them feel comfortable and the business to get going.