Hyderabad: Market Stagnation Continues
Despite the change in government and the festive season of Dasara, the real estate sector in Hyderabad remains sluggish. Buyers, builders, and developers are experiencing a lack of enthusiasm and activity, leading to dashed hopes for a revival.
Factors Contributing to the Slowdown:
- HYDRAA Demolitions: Concerns over unauthorized constructions have created uncertainty among consumers.
- Government Policies: The government’s approach towards the sector and delays in building permission approvals have dampened investor sentiment.
- Lack of Clarity: Issues with online land registration portals like Dharani and Bhoomatha have added to the confusion.
- Amaravathi Ambiguity: The future of Amaravathi, the planned capital city, remains unclear, affecting investment decisions.
Impact on Market Activity:
- Decreased Inquiries: The number of inquiries for new properties, including flats and plots, has significantly decreased during the Dasara season.
- Reduced Sales: Open plot sales, which are typically the first to be affected, have seen a significant decline.
- Office Closures: Some real estate players have even closed their offices in areas with low demand.
Recommendations for Revival:
- Government Support: The government should recognize the real estate sector as a key driver of development and provide necessary support.
- Improved Policies: Streamlining processes, ensuring clarity in regulations, and facilitating timely approvals are essential for boosting investor confidence.
- Positive Sentiment: Creating a positive market environment through effective communication and addressing concerns can encourage buyers and investors.
Outlook for the Future:
While the current situation is challenging, experts believe that the market may start to recover in the coming months. However, a significant revival is expected to take place sometime in 2025 or mid-2026.
NOTE: Ai generated article form google news
Credit: Google News