Rentals of properties in prime areas in Hyderabad have taken a sharp plunge owing to the recessionary trends in the IT sector. Apartments and bungalows in Punjagutta, Jubilee hills, Banjara hills, Madhapur and Gacchibowli have witnessed fall in rental values of up to 45%. On the other hand suburbs like Ramanthapur, Habsiguda, Sainikpuri, Alwal, Sitaphalmandi, and Mehdipatnam have witnessed an appreciable rise in rental values. Easy connectivity by metro and the outer ring road have reduced the problem of distances, observed a realtor who says his rental scouting firm has witnessed a spike in demand for properties in the suburbs. Another factor contributing to the rise of rentals in the suburbs is the inability of tenants to go ahead and buy a home. The recessionary mindset has crept in and nobody is showing any willingness to undertake any financial commitment in the near future. So for now, it is celebration time for property owners in the suburbs.
-
Blogger Comment
-
Facebook Comment
Subscribe to:
Post Comments
(
Atom
)
0 comments :
Post a Comment