Expensive homes remain unsold in Hyd!

The real estate segment of Hyderabad is hitting all time low with doubts lingering in every one after the state division. This has hit the market of expensive homes in the city and there are no takers for such homes ranging from 5 Crore to 20 Crores. Several apartments situated in the heart of the city like Banjara Hills, Jubilee Hills and Hitech City.

Experts do not expect this segment to recover any sooner. “There is some happening in the small and mid-sized segment as the builders attract buyers by offering discounts. But even on heavy discounts these expensive homes remain high for people and this segment may not recover until 2-3 years”, opined a Real Estate expert of the city.

Some of the developers whose projects are in very initial stages are planning to build them as mixed-use project. They will now house star hotels or multiplexes or international retail outlets along with some apartments to make them economically viable. They are currently busy converting their project permissions with the Greater Hyderabad Municipal Corporation (GHMC).