Saturday February 16, 2019
Real Estate Market In Telangana - Tollybeats

Real Estate Market In Telangana

Updated | February 6, 2017 00:20 IST

Everybody is aware of the fact that demonetization has hit the states hard and now there are reports that there is an improvement and cities like Ranga Reddy, Medak, Khammam are on good growth.

After a lull of six to seven years, the Registration and Stamps revenues in Telangana in the new financial year are not only looking up, but Hyderabad and Ranga Reddy registered impressive growth rates. In addition Khammam, Medak too are now on the bandwagon of growth.

While the revenue in April 2015-16 was Rs. 239.21 crore, this April it touched Rs. 285 crore with a growth of 19.18 per cent. Medak is leading with 135 per cent growth, Khammam with 47 per cent, Ranga Reddy with 30 per cent and Hyderabad is 14 per cent.

If the phase during the Telangana agitation had taken a toll on the real estate market with uncertainty among a section of people and investors, post bifurcation too, the misgivings and apprehensions of traditional investors from Andhra and Rayalaseema had continued for a while.

So how is the impact now?

This had an impact on real estate ventures in Hyderabad and Ranga Reddy despite its enviable international infrastructure, connectivity and employment generation potential. In the same period, speculative investors preferred Andhra, particularly to the areas in and around capital region of Amaravati and other cities for manifold returns in a short span of time. The districts of Krishna, Guntur, West Godavari , Visakhapatnam and even Prakasam posted impressive revenues.

In the last financial year 2015-16, the department in Andhra Pradesh earned Rs. 3,578 crore against the target of Rs.3,500 crore, with a growth rate of 24 per cent. For this year, 2016-17, a target of Rs. 5,180 crore was set but authorities feel the achievement could be around Rs.4,080 crore with an average growth rate of 15 per cent.

It is for  a fact too early to expect the growth to reach its heights where as investors are now feeling confident and there is a change for good happening.