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Rising rents in Hyderabad
tmahendra | 06 December, 2007 12:29
The sudden rise in house rentals in the recent times has come as a rude shock for many middle class families in Hyderabad city and its suburbs. Depending upon facilities being provided, location and road connectivity, landlords have increased the rent in a range of Rs.500 to Rs.3,000 in last couple of months. In cases of tenants seeking to know reasons for the sudden increase in rent, the house owners are simply displaying "Tolet" boards in front of the main gates forcing them to vacate at the earliest.
Reasons
Real-estate brokers attribute this to three reasons: High income levels among software engineers and call center employees, shortage of houses available for rental and the decision of Central Government to upgrade the Greater Hyderabad Municipal Corporation as A-1 City from September.
The high-salaried class working in software and ITES, MNCs and high-end corporates in the city are willing to pay almost three times more for a house at Kukatpally and Miyapur. One factor is that an employee can easily reach the workplace, most of which are located in Madhapur and its surroundings, within 10-15 minutes due to new spinal road connecting Cyber Tower and JNTU at Kukatpally.
A majority of them prefer to take a house on rent in the vicinities instead of commuting to office at Madhapur all the way from Kushaiguda, Malkajgiri, Uppal and Dilsukhnagar and spend considerable time in heavy traffic snarls. "Taking a house on rent in Kukatpally will not only save time, but also commuting won't make one feel tired. Hence, software engineers and call center employees are opting to locate themselves here by paying more rentals," explains D. S. Kiran Babu, owner of Arun Rentals in Kukatpally, But this trend is having a cascading effect on the middle class families. With high-income groups ready to pay more rent, the house owners increased the charges. Unable to meet the demand of house owners, tenants who cannot afford are vacating the place and move to areas like Bowenpally, Safilguda, Malkajgiri, Nacharam, Kothapet etc, where house rents are comparatively less. Their problems are further compounded as some owners in these areas also increased rentals owing to shortage of houses for rent and the sudden influx of those seeking dwelling on rent. "How can they resort to such step without giving prior information? It's not correct on their part. We too have our financial commitments," asks M. Jaya Kiran from Ramanthapur.
Heavy burden
The rise in the rentals has ended up putting the financial planning of the middle class in dilemma. For instance, a family used to stay in a triple-bedroom house at Chaitanyapuri in Dilsukhnagar for a monthly rent of Rs.3,500.
A few weeks later, the family vacated the house at the request of the owner. They are now staying in a house in the same locality by paying a rent of Rs.5,500. "We have no option except to postpone our other financial commitments and pay the rent," decry family members.
Another factor is the decision of some corporate companies taking entire building on lease to provide accommodation to their employees coming from other States, mostly from North India. "This is also leading to dearth of houses for rent," maintains W. John, a real-estate broker.
He adds owners immediately hiked the rent after they came to know that Government employees would get extra HRA as the city was upgraded as A-1 city. Whatever be the reasons, middle class families are feeling the pinch of additional financial burden.
Reasons
Real-estate brokers attribute this to three reasons: High income levels among software engineers and call center employees, shortage of houses available for rental and the decision of Central Government to upgrade the Greater Hyderabad Municipal Corporation as A-1 City from September.
The high-salaried class working in software and ITES, MNCs and high-end corporates in the city are willing to pay almost three times more for a house at Kukatpally and Miyapur. One factor is that an employee can easily reach the workplace, most of which are located in Madhapur and its surroundings, within 10-15 minutes due to new spinal road connecting Cyber Tower and JNTU at Kukatpally.
A majority of them prefer to take a house on rent in the vicinities instead of commuting to office at Madhapur all the way from Kushaiguda, Malkajgiri, Uppal and Dilsukhnagar and spend considerable time in heavy traffic snarls. "Taking a house on rent in Kukatpally will not only save time, but also commuting won't make one feel tired. Hence, software engineers and call center employees are opting to locate themselves here by paying more rentals," explains D. S. Kiran Babu, owner of Arun Rentals in Kukatpally, But this trend is having a cascading effect on the middle class families. With high-income groups ready to pay more rent, the house owners increased the charges. Unable to meet the demand of house owners, tenants who cannot afford are vacating the place and move to areas like Bowenpally, Safilguda, Malkajgiri, Nacharam, Kothapet etc, where house rents are comparatively less. Their problems are further compounded as some owners in these areas also increased rentals owing to shortage of houses for rent and the sudden influx of those seeking dwelling on rent. "How can they resort to such step without giving prior information? It's not correct on their part. We too have our financial commitments," asks M. Jaya Kiran from Ramanthapur.
Heavy burden
The rise in the rentals has ended up putting the financial planning of the middle class in dilemma. For instance, a family used to stay in a triple-bedroom house at Chaitanyapuri in Dilsukhnagar for a monthly rent of Rs.3,500.
A few weeks later, the family vacated the house at the request of the owner. They are now staying in a house in the same locality by paying a rent of Rs.5,500. "We have no option except to postpone our other financial commitments and pay the rent," decry family members.
Another factor is the decision of some corporate companies taking entire building on lease to provide accommodation to their employees coming from other States, mostly from North India. "This is also leading to dearth of houses for rent," maintains W. John, a real-estate broker.
He adds owners immediately hiked the rent after they came to know that Government employees would get extra HRA as the city was upgraded as A-1 city. Whatever be the reasons, middle class families are feeling the pinch of additional financial burden.
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Real Esate Investment in India
tmahendra | 05 November, 2007 17:52
Every year there is some kind of development taking place in India whether that development is in science and technology, economic growth and even in real estate. There is a certain boom in Indian real estate market and this is the reason why many people are going for real estate investment property in India.
According to market experts, Indian real estate market has got a lot of potential and in few years it will be riding high. That
According to market experts, Indian real estate market has got a lot of potential and in few years it will be riding high. That
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Why Do We Need To Hire Real Estate Property Advisors
tmahendra | 05 November, 2007 17:42
Hiring real estate property advisors before buying properties is an absolute must because these advisors usually know about a wide array of opportunistic and value-added properties plus their knowledge regarding investments in real estate and assets is really helpful in making decisions regarding property investment.
But before you hire any real estate property advisor, make sure that you check his/her credentials. He or she must have hands-on real estate and capital market experience. Apart from that, it is of paramount importance that real estate property advisor has dealt with investment of real estate funds.
In an ideal scenario, overall investment strategy of your real estate property advisor would be based on exploiting the linkage between the high demand and liquidity for stabilized, core real estate assets. In case of low demand, real estate property advisor should have strong real estate skills.
An ideal real estate property advisor is the one who prepares solid plan of action so that investments can be made at an attractive cost basis. In addition, real estate property advisor increases the investment value with help of intensive operational and financial management.
The main objective of a real estate property advisor is to assist the property buyer in understanding real estate thoroughly, with help of insider's knowledge. Furthermore, real estate property advisor will play a prominent part in letting you buy your first home or rental get a brilliant loan deal. It has been noticed that real estate property advisors also play a crucial role in finding a top-notch real estate agent. It
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hyderabd real estate
tmahendra | 05 November, 2007 17:38
Hyderabad is among the leading choices for people who wish to invest in Indian Real Estate. Hyderabad is a place with a high economic growth, excellent architecture, modern infrastructure, and a booming Real Estate and construction industry.
A lot of the property is still in the form of plans on paper but already the sale and purchase of these properties is good business. There are numerous properties that have already seen many owners despite the fact that construction has not even started. People are making money from property in Hyderabad that is just land with nothing on it.
Because of factors like these Hyderabad has become the best place for investing in NRI Real Estate. It is a remarkable sight to behold in the middle of the country. Hyderabad offers some of the highest standards of living when compared to any other cities of India and this only spurs on the Real Estate market growth.
Hyderabad is a place that is also centrally located in the Middle of the country and it is a convenient location for business meetings among surrounding cities as well as countries. Because of the great business infrastructure it has also gained a good corporate presence that has lead to excellent employment opportunities. This results in an even stronger economy because of the companies and jobs.
Hyderabad is among the fastest growing places in India. There are many skyscrapers that are scheduled to open over the next 5 years. Because of the highest construction rate in India and the growing economy there are many people that are increasingly looking to Hyderabad as their preferred location for NRI Real Estate investment. Despite the fact that it has so much going for it you should remember that the Hyderabad market is quite young.
Hyderabad has always been the most popular place in the Hyderabad because of its visitor friendly policies. There are many investment opportunities available to people in Hyderabad. In the past 2 years other cities have also noticed the profitability from Real Estate development and they are also beginning to contribute to the growth of the region.
Because of the heavy investment in the tourism, infrastructure has further encouraged the growth of the Real Estate market. The increase in the population has increased the cost of rentals there. In fact, Hyderabad has all the potential requirements for avoiding the issues that are threatening to hinder the growth of Real Estate market in India. These issues include shortage of manpower and large-scale construction projects that take too long to complete.
So stay tuned, and be prepared to learn something about real estate in Hyderabad India.
http://www.maaproperties.com.
A lot of the property is still in the form of plans on paper but already the sale and purchase of these properties is good business. There are numerous properties that have already seen many owners despite the fact that construction has not even started. People are making money from property in Hyderabad that is just land with nothing on it.
Because of factors like these Hyderabad has become the best place for investing in NRI Real Estate. It is a remarkable sight to behold in the middle of the country. Hyderabad offers some of the highest standards of living when compared to any other cities of India and this only spurs on the Real Estate market growth.
Hyderabad is a place that is also centrally located in the Middle of the country and it is a convenient location for business meetings among surrounding cities as well as countries. Because of the great business infrastructure it has also gained a good corporate presence that has lead to excellent employment opportunities. This results in an even stronger economy because of the companies and jobs.
Hyderabad is among the fastest growing places in India. There are many skyscrapers that are scheduled to open over the next 5 years. Because of the highest construction rate in India and the growing economy there are many people that are increasingly looking to Hyderabad as their preferred location for NRI Real Estate investment. Despite the fact that it has so much going for it you should remember that the Hyderabad market is quite young.
Hyderabad has always been the most popular place in the Hyderabad because of its visitor friendly policies. There are many investment opportunities available to people in Hyderabad. In the past 2 years other cities have also noticed the profitability from Real Estate development and they are also beginning to contribute to the growth of the region.
Because of the heavy investment in the tourism, infrastructure has further encouraged the growth of the Real Estate market. The increase in the population has increased the cost of rentals there. In fact, Hyderabad has all the potential requirements for avoiding the issues that are threatening to hinder the growth of Real Estate market in India. These issues include shortage of manpower and large-scale construction projects that take too long to complete.
So stay tuned, and be prepared to learn something about real estate in Hyderabad India.
http://www.maaproperties.com.
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