Hyderabad: Now that the uncertainty over the division of the state has been put to rest, the political scenario is likely to stabilise and real estate players foresee a rise in land and property sales in the next six months. AP Real Estate Developers’ Association foresees a spurt in property and land sales in Greater Hyderabad limits soon after the general election. Property developers have been holding back from launching new ventures till the political dust settles in the state. “Greater Hyderabad has inherent potential to grow more than any other city in the country as it has abundant land parcels and is cheaper compared to other cities such as Bhubaneswar, Ahmedabad and Indore. In addition, the city has well established infrastructure and transport, such as the international airport, and outer ring road, which is essential for business,” said Dasarath Reddy, vice president, APREDA. Established IT companies, multinational companies, pharmaceutical and other private industries have already announced that they see no need to change their base from Hyderabad. Even if new cities are developed in the other parts of the state, companies would branch out to those regions but not shift their base. “During 2007-2009 AP state was vibrant and investors and land aspirants, especially NRIs readily invested in land and properties, buying several acres of land and villas here. After 2009, the trend came down drastically owing to political uncertainty,” said Anil Reddy Vennum, vice president, Federation of AP Chambers of Commerce and Industry. Realtors and industrialists say that immediate growth in the residual state of AP will be seen only after a capital city is identified and the infrastructure and development is taken up on a war footing. “Instead of waiting for 10 long years for growth in Seemandhra region, the government should take up infrastructural development on a war footing and establish it in three to five years by taking two steps at a time,” he said. Property prices may go up once there is stability in the market.
