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BUYING A DREAM HOUSE & A TIMELESS PROPERTY IN A DESIRED CITY : A PERSPECTIVE FOR HOME BUYERS

Ever rising demand in real estate sector has kept the prices also moving high. More so, people have learnt lesson after covid-19 pandemic that how necessary is to own a house…’Apna Ghar’.

BUYING A DREAM HOUSE & A TIMELESS PROPERTY IN A DESIRED CITY
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“Invest in real estate beyond owning a house with prospect of good returns and futuristic family needs”

If you are wondering what the title of this article implies, well it is about our common aspiration and important decision in life time which is ‘Buying a property as a house’. We may buy house as an investment or for ‘end use’. We align the search of the place with the aspirations and ambitions of our family which besides a good job or career prospect offers more about a right balance in life, good & healthy environment, better amenities, place which provides for goals of our children in education, higher studies and employment.

I am in mid-forties and served in Army for a period slightly more than two decades and belong to a city in a northern state. I recently went through a phase to decide upon buying a house. So, at first it appeared very simple to go back to your home town. But these days when everybody plans to be in metro cities, how wise the idea is to go back to a smaller town? Moreover, decision of investment in real estate has to be very sensible, people end up with ‘Speculative Buying’ which is one such very common risk, wherein one can end up buying a property based on some trend without weighing all significant factors and which may later give one a bad taste.

Once my search to find for an ideal place began, soon I realized that real estate sector is booming again, prices are sky rocketing and a 3 BHK for a family in a decent place and in a metro city appears to be going out of the pocket size. Ever rising demand in real estate sector has kept the prices also moving high. More so, people have learnt lesson after covid-19 pandemic that how necessary is to own a house…’Apna Ghar’.

So, at this juncture, I was posted in an operational area as a Commanding Officer of a unit and I was about to move for new assignment in Secunderabad, which is often recognized as twin city of Hyderabad. Though, both cities are collectively known as Hyderabad. It was apparently rewarding to be posted to a place which has better educational prospects for children. On reaching here at first, it was good to find the wonderful climate and the contemporary progress. The place has cosmopolitan culture. Till now, I restricted my mind to the tenure only and initially never saw this place from the purpose for buying a house here. Is this mindset block of being not a native of the place, compelling enough reason to undermine the prospects of a worthwhile place? Certainly, it should not be any more in these times of improved travel infrastructure in the country.

Well, it was worth exploring the place from the perspective of knowing about real estate and futuristic growth. Hyderabad is a metropolis and it is one of the few top cities of our country in terms of development & economic activities. We all know that it is a major Hi-tech city (IT Hub), industrial sector of IT, pharma, auto and manufacturing are booming here. Jobs bring people and real estate becomes a necessity.

An article published recently on real estate growth here quoting ANAROCK research stated that, “ Housing prices in Hyderabad (Gachibowli area) jumped 33% from January to October 2023 compared with the corresponding period in 2020 and It was the highest surge in housing prices among the key micro markets in the top seven cities”.

What makes Secunderabad a unique place? It is absorbing similar growth patterns as of Hyderabad yet offers a place away from ‘hustle & bustle’. Secunderabad is a green belt with a good resultant AQI and climate is moderate and wonderful all year round. All possible futuristic urban infra projects are coming up here. In recent years, number of residential projects have come up here with contemporary technology from home security systems to construction of aluminum foam work with all amenities for modern life style.

But still a dilemma around this choice of being away from my native place was present. To overcome this reservation, two profound and convincing enough aspects supported the decision to look for a residential house here in Secunderabad. One, with the government focus on improving and expanding infrastructure in the country, the improved air, rail and road infra and connectivity across the major cities which is going to facilitate more ease in commuting. Second, price appreciation and higher returns that provides for future exchange of assets, if so desired then, in similar cities near home town.

Exclusivity of the place attracts prospect home buyers to housing projects which are not less than a ‘TIMELESS property’. What is the essence of a timeless property, simply the one which provides for a best option both for the end use and investment. The aspects which contributes to this fact are the location, city with vast economic growth future, vicinity to the exclusive facilities, modern amenities, better connectivity and the environment. Given these factors, I got the answer to ‘WHY buying a house here’. The hard earned savings have to be invested wisely where one can get safety of investment and value for money with reasonable price. This perspective is purely based on my experience and does not constitute any form of advice or recommendations for readers, with no liability for any decision by anyone as one must seek proper advice and enquiries at their own.

This article has been contributed by Colonel Sanjeev Nain (He has recently taken PMR from service at the age of 46 after serving in Indian Army for 22 years)

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