Real estate has come back to every drawing table in Hyderabad in particular and Telangana in general. Not that it is not a national or even a global issue. Real estate for sure proves its presence where there is need and greed. Many other things are selfishly sought but many agree that real estate tops the greed list.
When Revanth Reddy announced the concept of Hydra, everyone jumped with joy for the sheer reason that lakes would be saved and over one crore people could breathe fresh air. Their excitement is proof of their fear of climate change which is at our doorstep. Now that Hydra is dissipating and on its way out, it has come as a helping gesture for everyone to focus on how to go about in the future while investing in real estate. At least a realization has crept in that any day in the future it is a big risk to invest in anything that involves a shady deal, however powerful and well-connected the builder be, and surely there will be no takers among middle and lower-class buyers henceforth. The rich may take risks as they are used to losing big money because they can earn bigger money elsewhere. So Hydra may not be successful in salvaging what is lost environmentally, but definitely, we are forging ahead to save the remaining lakes, greenery, etc. We should also now focus on saving the rocks of Telangana which have a lot of historical and heritage value, not to speak of its contribution to climate protection.
There seems to be excessive housing in the twin cities and with the political situation as of now being very mercurial, the real estate is in limbo. Reduced buying or selling seems to be happening as of now. A clear-cut 20-30% drop in realty prices is right now the reality. When BRS was there, many didn’t sell the property hoping that the prices would jack up as it would surely return to power. But the reverse happened. Prices slashed and many preferred not to buy or sell or do so at throwaway prices. BRS loss has given a ray of hope for buyers to benefit from lower prices and the sellers are not rising to the occasion as they are not in a hurry to do so at lower prices. But there is some rechurning as a result of a paradigm shift in the state. Many Andhra people from twin cities are rethinking investing in Telangana at lower prices as they are politically sure that in the next four years, there will be a return of good times. Likewise, they may not be showing much enthusiasm in doing so in AP much against the expectations despite Naidu and co-storming back to power. The recent floods have added to the uncertainty in both the states.
Future investors will be looking for houses to live in for the present rather than being too futuristic. They may go for environment-friendly houses with less cement and steel more wood and alloyed plastic and larger green areas banking on solar energy with the only hope of escalation in land value. Horizontal outreach will be higher just as how people preferred post-COVID. For investments to get recurring returns, people may go for apartments in prime areas as they are of no value in the interiors of any city or town you take. Gated communities will be on the rise, be they apartments independent houses, or villas because fresh air and greenery will be an acute need for future generations. A little bit of open land and growing vegetables needed for the day will be the future demand of middle classes in the outskirts of all cities in India shortly. 45% of the population which is in the prime age of 25 to 40 would be opting for this. It’s high time reality takes a back seat to save this earth from further deterioration environmentally.
