Have the much awaited glad tidings finally arrived for the real estate in the city and suburbs? The mid-2010 seems to be ushering in some reassuring signs for the construction industry with hopes getting rekindled on the fate of hordes of project that remained wedged in dilemma in the aftermath of loss of interest in property.

While enquiries for properties are said to have been much better since the beginning of the year when compared to the scenario that prevailed last year, the scene has been more heartening for couple of months, happens to be the feeling of the industry. “More enquiries have started to get converted into actual sales and this is a good sign for us,” points out a builder.

Topping the feeling has been the recent response to the Hyderabad Metropolitan Development Authority HMDA auctions which after a couple of years managed to strike a chord with prospective buyers.

Against an initial hope of being able to rise around Rs.40 crores, the Authority appears set to earn around Rs.67 crores by the time all the successful bidders made their payments.

Since auctions by bodies such as HMDA and Housing Board usually end up offering a perspective for prevailing mood and setting tone for the pricing, the recent auction is being seen as offering a positive outlook for matters of real estate.

The auction result is seen as successful by the industry which has pinned its hopes on fast revival of the sector from now on.

Price correction

The corrections in terms of pricing indeed seem to be falling in place when compared to the boom period. The plots which then were sold like hotcakes for even Rs.18,000 per sq.yards in some locations got buyers for a price tag of around Rs.10,000 and little more.

While those in the industry feel that the prices could take a small further dip and no more, the buyers who adopted a wait-and-watch approach all these days seems to be veering to the idea of these being realistic costs as of now.

The successful bid prices during auctions by government most of the times act as a baseline at a given location. “Though minor fluctuations could be there but most try to quote a price that is close to the auction prices,” informs a developer.

That being the scenario for open plots, the same is expected to move on to the unsold stocks of apartments that have got accumulated in last one year.

Have the much awaited glad tidings finally arrived for the real estate in the city and suburbs? The mid-2010 seems to be ushering in some reassuring signs for the construction industry with hopes getting rekindled on the fate of hordes of project that remained wedged in dilemma in the aftermath of loss of interest in property.

While enquiries for properties are said to have been much better since the beginning of the year when compared to the scenario that prevailed last year, the scene has been more heartening for couple of months, happens to be the feeling of the industry. “More enquiries have started to get converted into actual sales and this is a good sign for us,” points out a builder.

Topping the feeling has been the recent response to the Hyderabad Metropolitan Development Authority HMDA auctions which after a couple of years managed to strike a chord with prospective buyers.

Against an initial hope of being able to rise around Rs.40 crores, the Authority appears set to earn around Rs.67 crores by the time all the successful bidders made their payments.

Since auctions by bodies such as HMDA and Housing Board usually end up offering a perspective for prevailing mood and setting tone for the pricing, the recent auction is being seen as offering a positive outlook for matters of real estate.

The auction result is seen as successful by the industry which has pinned its hopes on fast revival of the sector from now on.

Price correction

The corrections in terms of pricing indeed seem to be falling in place when compared to the boom period. The plots which then were sold like hotcakes for even Rs.18,000 per sq.yards in some locations got buyers for a price tag of around Rs.10,000 and little more.

While those in the industry feel that the prices could take a small further dip and no more, the buyers who adopted a wait-and-watch approach all these days seems to be veering to the idea of these being realistic costs as of now.

The successful bid prices during auctions by government most of the times act as a baseline at a given location. “Though minor fluctuations could be there but most try to quote a price that is close to the auction prices,” informs a developer.

That being the scenario for open plots, the same is expected to move on to the unsold stocks of apartments that have got accumulated in last one year.

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