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PHOTO: P.V.SIVAKUMAR

Ever on the rise: The aspiration for owning a house has gone up like never before.

That being so, since the bypoll hinged itself on the separate Telangana state issue, it did end up creating some kind of interest among those involved in real estate activities in the city and suburbs. A general curiosity also was on witness among public as to how the outcome will end up affecting the long term prospects of the realty scene.

If proponents of a separate Telangana score impressively, will it affect the long term prospects was the question. Though a majority in the industry was firm in its belief that city’s real estate growth has insulated itself from the political developments and was poised for a steady growth, there were others who chose to be sceptical. What if developers who are not from Telangana pull out their investments? What if alternate development is taken up in other regions? What if uncertainty stalks the future plans of small and mid-level investors?

The city suburbs in particular have a horde of projects coming up all sides and many a big developer from across the country had invested considerably here. Most of the ongoing projects and those on drawing boards are not of small scale but are high rises and ultra-modern ventures that are metamorphosing lives. The prices have gone up unpredictably for a couple of years but after hitting a plateau, they have been showing signs of stabilising at least temporarily.

The factors for the slowdown were not due to prevailing political weather in the State, happens to be the predominant feeling among the building community. From rising prices of construction material to fluctuations in home loan interest rate to unscientific rise in property prices over last few years, among others are cited as major factors. There have been instances of some apartments being sold at lesser rates than actually promoted, but they are not to be taken as a parameter to assess the situation. “They could be distress sale in cases where developers stretched beyond their abilities and were forced to liquidate. This has nothing to do with T-factor,” points out G. Yoganand, Managing Director, Manjeera Constructions.

Elections usually do come up with a small pause in the real estate activity, reasons another adding that the effect is felt more if the general perception is about the possibility of a change in government.

That might also be the time when a small section of the industry prefers to hold back its investment or plans to understand the next government’s policies.

The city has fast gained a metro hue and the influx of IT related personnel from different parts of the country has gone up considerably. Also, many a developer from different parts have set up their shops and bought land for development at high costs.

For them, T-factor hardly matters since the acquisition and construction activity was in full swing.

And then there is this aspiration for one’s own . Driven by various factors, the aspiration has gone up like never before and since there is a need, the demand is going to be there.

The realty industry, if at all is worried, then it is about shortage of manpower and high costs of construction. But, definitely not the T-factor. Whatever it was, the results of the byelections could hardly be seen influencing property prices is the majority verdict.

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