Hyderabad is one of the fastest growing metro cities in the country, along with Delhi NCR, Bangalore, and Chennai. At the forefront of Hyderabad’s growth, is its real estate market.
Over the last decade, Hyderabad has experienced a surge in new residents, driven by a fast expanding IT sector, growing infrastructure, and the overall development of the city.
What Is A Property Valuation?
Before deciding to invest in real estate in Hyderabad, it’s absolutely essential to get an accurate property valuation of the property you have your hearts set on. Property valuation is the foundation of a sound real estate investment.
An accurate property valuation in Hyderabad , ensures that you invest in properties in promising locations with real growth potential, rather than overpriced properties in poor locations that may not produce good returns.
Things To Keep In Mind While Getting A Property Valuation In Hyderabad
1. Understand the Purpose of Property Valuation
Prior to starting a property valuation process, make sure you understand why you’re getting it. The purpose can be selling, purchasing, refinancing, taxation or legal disputes - this may impact method and result of valuing.
For example, a valuation for mortgage could be different compared to one done for selling the property because lenders often have a conservative approach to property valuations.
It’s important to know the purpose for accurate property valuation in Hyderabad.
2. Choose an Experienced Market Expert
Picking a valuer who is qualified and experienced makes all the difference in getting a property valuation.
In Hyderabad, you need to confirm if this person has registration with the Institution of Valuers or another similar professional body. A property valuation expert that has certification follows a particular set of standards as well as ethics.
This will lead to an accurate and dependable property report, and ensure you don’t get cheated with a bad valuation.
3. Consider Local Real Estate Trends
Property prices in Hyderabad’s real estate market can vary widely from place to place, among different localities. High-end localities near IT and commercial hubs, such as HITEC City, Gachibowli, and Banjara Hills will have more expensive residential properties than towns.
Similarly, many other towns and suburban areas are experiencing good property rates and returns, because of better connectivity and development making them attractive options to invest in housing.
Stay updated on current market trends and recent sales in your locality, as these will impact your property’s value and help you get accurate property valuation in Hyderabad.
Other Economic & Development Indicators
Not only this, Hyderabad is recently seeing increased foreign investments, and supportive government initiatives like the Telangana State Industrial Project Approval & Self-Certification System (TS-iPASS).
These broad economic factors might not seem relevant right now, but they’ll have a big impact on property rates in the future and can help you provide context to your accurate property valuation in Hyderabad.
4. Assess Property Condition and Features
Does your property have a lot of wear and tear? Are the walls falling apart? Maintaining the physical condition of your property is essential for a good valuation.
Damages or necessary repairs can decrease the value significantly, so make sure you take good care of the property.
Appraisers also consider features like layout, size, construction quality, and amenities when determining the worth of a property. Properties with modern designs, good ventilation, and high-quality finishes typically fetch higher valuations.
5. Document Legal and Regulatory Compliance
When buying or selling a property, it’s absolutely vital to have all legal and regulatory documents in order.
This includes ownership deeds, building permits, tax receipts, and compliance with local zoning laws, RERA compliance.
Any legal disputes or non-compliance issues can negatively impact the valuation. Providing clear documentation to the valuer can facilitate a smoother and more accurate assessment.
This is necessary for accurate property valuation in Hyderabad.
6. Evaluate Location and Accessibility
The main factor that impacts property valuation is its location. Is your house close to essential services like schools, hospitals, public transport, and commercial centres?
Are there any upcoming infrastructure projects such as metro line extensions or developing IT centres? The future potential and prospects of the locality, including big residential projects, all can have a deep positive impact on the accurate property valuation in Hyderabad.
In Hyderabad, properties in well-connected and developed areas like Jubilee Hills, Madhapur, Monikonda, and Kondapur are highly valued.
7. Leverage Online Property Valuations
Online property valuation tools have recently become popular due to their convenience, speed, and accuracy. These platforms offer instant property estimates based on information such as location, size of the property, it’s age, and condition.
These platforms use comparative market analysis (CMA). This compares recent sales data of neighbouring properties and applies that data to your property valuation.
It helps you to get accurate property valuation in Hyderabad.
How To Get The Best Online Property Valuation in Hyderabad?
To get the most accurate property valuation Calculator, use online valuations to complement professional physical evaluations. While online tools provide a useful starting point, a qualified valuer can provide a more detailed, nuanced assessment that takes into account the unique characteristics of your property as well as current market conditions.
Combining the two methods will provide you with a comprehensive understanding of your property’s value, allowing you to make more informed decisions in Hyderabad’s dynamic real estate market. It will also help you get accurate property valuation in Hyderabad.
About Assetscan
Assetscan is a smart real estate buddy for AI-powered property valuations. It’s a user friendly platform, assisting investors with accurate micro market updates, and real time property valuations and location trends.
Through Assetscan, buyers can leverage our AI-powered insights to make smarter, data-driven decisions and ensure they capitalize on the best opportunities in this thriving market.
