With close to 7 million people living in the city, Hyderabad is perhaps the 6th largest metropolises in the country. It is famous for its visually appealing and ancient architecture; the city’s is a fusion of buildings and designs of two distinct cultures. It has beautiful mosques and gardens reminiscent of the age of the Nawabs and a large number of gorgeous Hindu temples too can be found in the city.
So what is the latest architecture to grace the skyline of Hyderabad? Well to be perfectly frank it consists of modern high rise apartments made of brick and mortar and sleek office buildings made of steel and glass.
The demand for such new constructions in Hyderabad has been welcomed by most citizens of the city who see it as a mark of progress. Possibly even those who today construct such offices and apartments in Hyderabad may imagine that if they do not, their children may one day have the opportunity to live in such homes. Whether it is a realistic hope perhaps no one can say with any deal of certainty, what can be said with certainly is that, not meaning to use the word vulgar derisively, vulgarity is omnipresent in many parts of the country, yet vulgarity is a sign of vigor. What such vulgarity may indicate is that people who once had no money or little money have now made a lot of money and are willing to flaunt their new found wealth.
Such display of “vulgarity” leads to the purchase of luxury apartments in Hyderabad and many other cities in the country. Rather than being condemned such display of wealth by the newly rich should be condoned, as it leads others to emulate the display of wealth and leads them too becoming rich or at least seek a better lifestyle than they otherwise might have.
Once people suddenly have more money than they know what to do with, what do they do with it? Well after they’ve splurged on fancy cars and jewelry and come to their senses, many in fact purchase quality real estate.
For such nouvelle rich real estate in Hyderabad is a good investment, the price of homes here has appreciated by over 14% during the past 3 years and there is every reason to suspect it will continue its upwards trajectory for the foreseeable future. An added benefit of purchasing a home as opposed to flashy automobiles is that home prices don’t go down in value, over time a home will almost certainly appreciate in value and an automobile (not considering vintage automobiles which do tend to appreciate in value) will almost certainly depreciate in value.
Many new projects in Hyderabad are built to cater to the spendthrift habits of the newly wealthy and investing in property in Hyderabad is an avenue for many to grow their portfolio of real estate as well as grow their net worth as well.
Residential property in Hyderabad, though not as pricey as in Mumbai, may also be less prone to the wild price swings as property in the comparatively larger cities is and may be a good hedge against investments made in larger cities like Mumbai and Gurgaon where prices tend to change more dramatically.