According to a recent survey, Hyderabad, along with Bangalore, is currently the 3rd most sought after destination in terms of real estate in the country.
Thanks to the global recession that led to an unprecedented uncertainty on the property scenario, followed by the political unrest that prevailed due to the death of the former Chief Minister Y S Rajasekhara Reddy and the Telangana agitation, the prospects of real estate in Hyderabad and its suburbs seemed direly affected. Yet, according to a survey by real estate website Makaan.com, Hyderabad turned out to be the third most preferred city in the coutry.
In the survey titled 'Realty Trends 2010', Delhi topped with 34% of those polled interested in owning a property there, followed by Mumbai with 28%. Hyderabad and Bangalore shared the third spot with an interest level of 11% - a rather miniscule figure when compared to the top 2 spots.
The survey was conducted in metros and tier-II cities, with around 4,613 respondents. The study was conducted on the portal between February 15 and March 5, 2010. Several of its respondents are said to belong to the age group of 26-35 years. As many as 67% of those polled said they wanted to buy a house for self-consumption. 23% considered it to be a long-term investment while 10% saw it as a short-term investment proposal.
Among those who chose Hyderabad, 82% seekers are looking for houses costing less than Rs. 30 lakhs, and 16% are looking for the Rs. 30 lakhs - Rs. 60 lakhs range.
A majority of the buyers have also said that the speculators driving the realty boom of 2004-07, have been more or less driven out of the markets.