Hyderabad, a quintessentially cosmopolitan city, is a hub for the IT, pharma, and biotechnology industries. With a thriving economy and real estate, it is fast becoming a prime destination for buying property and settling in. If you are looking to buy a house in Hyderabad, this is the right time to do it as property prices are not as high as other metros but will go up in the future as the city attracts a greater number of people. Below are some things to keep in mind before buying a house in Hyderabad.
Hyderabad has a metro line running through the city, and easy access to metro stations is vital if you want to avoid traffic jams near busy office areas. While the outskirts of the city do not have many complete housing projects right now, there are several upcoming projects which will have good connectivity to the metro. If your home is not close to your office, then this will be an important factor for you.
Since Hyderabad is a bustling job market, it is no surprise that pollution levels are high here. In a 2018 survey, 78% of respondents stated that they suffered because of poor air quality in the city. Despite this, Hyderabad has a lot of green spaces including urban forests, conservation parks, and lakes. It is preferable to buy a house near one of these areas or on the outskirts of the city if you want to completely avoid pollution.
Localities with good connectivity to railway and metro stations are generally preferred by buyers in Hyderabad. Some of these include Manikonda, Sainikpuri, Miyapur, and Kukatpally, where housing finance ranges between 30-50 lakhs. If you go towards Madhapur, Gachibowli, Nanakramguda, and Gopanpally, the pieces might get a little steeper but you will have greater access to parks, multiplexes, malls, etc.
Size of the House
Many young people come to Hyderabad looking for a job, so there is no dearth of studio and duplex apartments built specifically for single professionals and small nuclear families. However, gated villas are also equipped with modern facilities like parking, greenery, connectivity, etc. – you only have to keep in mind what your requirements for the house are.
If you come to Hyderabad for a job at a young age, you may have to look for a bigger house when you start a family. Always ask the builder if there is a scope for expansion in a few years, especially in gated communities where you will often either not be allowed to expand or have to fulfil a long list of conditions before doing so. With Tata Capital’s home loans, you do not have to worry about the price of any house you want to buy in Hyderabad. With home loan interest rates starting at just 9.25%, Tata Capital offers the most flexible home loan eligibility criteria. Housing loans have never been more convenient – apply for a home loan today!