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Articles: My Experience | My Experience in Hyderabad on Real Estate
- Narasimha Reddy Gongi
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Dear NRI friends,
Staying away from India?? looking to Invest safely in Hyderabad??. Below are few of my thoughts and tips for you guys!!. I found some interesting things in my last visit to Hyderabad. These are true facts and please spread them across to all our indian friends living in US. These tricks are practiced by local agents to hype the rates and unfortunately few of them are our own friends sitting on bench in US(So now we have NRI agents).
In my last visit I went around places like Kukatpally, Manikonda, Kondapur, miyapur, Hitec City,Madhapur,Gopan Pally, Nizampet road, Bachupally(satyam vernture), Nallagandla, Pappula Guda, shamshabad(Intl Airport). I went there and saw the hype created by many real estate agents. One single example was sites in Madhapur, where plots were sold for 10000/ in just less than an year back. The agents started quoting around 26,000/ as soon as they came to know that I'm an NRI. And the situation was not different in other places. In all the places I asked the agents only one question, 'SHOW ME ONE SINGLE TRANSACATION OR ONE BUYER WHO BOUGHT FOR THAT PRISE, THEN I'M READY TO TAKE'. They started telling all kind of stories 'people are coming, people are ready to buy, it is going to get double in less than 6 months.
Guys the true thing is, please realize that, Hyderabad has not changed over night and will not change in over night, prizes are increasing but not as mush as shown by the agents. Don't invest directly from USA, have someone to go physically and have them inspect the property. Let them go around and find out the actual prize. Don't ever listen to Agents....they are born to sell. Just like the other day guy selling a 40 lakhs worth 267 Duplex House in Nizampet for 1 core (claiming as a Bungalow). Kudos guys!! don't encourage such guys. Watch TV9(now available on Internet) for regular updates on real estate prizes. Don't blindly invest...because it is hard earned money guys!!
If you need any more information please contact me on my email: reddy2k88@yahoo.com
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