HYDERABAD: Real estate business in the city is slowly picking up after a major dip in the last few months. With the market showing signs of revival, the Life Insurance Corporation (LIC) is conducting a three-day fair with construction companies, realtors and consumers.Over 20 companies have put up stalls and most of them exuded confidence that consumers will make a beeline sooner than later. However, all is not rosy for the real estate sector. The market, at the moment is growing in areas like Bowenpally, A S Rao Nagar, beyond Ramoji Film City and essentially in East Hyderabad. Said Salam of Armsburg Properties, “East Hyderabad is where the market is growing. Residential investments are aplenty that side because the west side of the city is completely commercial. The market is definitely more conducive because prices have come down compared to the last two years.”Bowenaplly seems to be the hotspot with seven to 10 different projects in finishing stages. Developers Vishal Projects Limited have a 10-storey apartment in development at RTC colony. Equipped with amenities like a swimming pool, the apartment is designed to attract the new breed of IT sector employees who form one bulk of the customer base. Most interesting is the current rate of interest for home loans - around 10.4% for 20 years - considered the lowest in recent market statistics.
Comments
0 comment