Around 55% of Projects in Hyderabad are Under-Construction

under-constructionAccording to a latest report, around 55% of residential projects in Hyderabad are still under various stages of construction. Most of the project will offer possession from this year to 2018. With respect to the real estate market condition of the city, Hyderabad Metropolitan Development Authority (HMDA) is also permitting the builders to pay the development charges as well as other processing fees in installment basis.Around 90% of the residential projects that are under-construction comprise of 2 and 3 BHK apartments ranging from Rs. 30 lakh to Rs. 2 crore. Projects developed by both local and renowned developers are under-construction. Most of these projects are present in localities like Kondapur, Gachibowli and Miyapur.According to the sources, during the under-construction phase, one should check if the builders have acquired all the necessary approvals with respect to the project or else the projects would be considered as illegal. First thing to verify is whether the builder has received the approval for developing residential project. In case of agricultural land or industrial plot, the builder needs to take permission for transferring it into residential property. The builders also have to acquire clearances from municipal and environment department.To be on a safer side, any homebuyer should inspect and make sure if the approved business plan completely matches what was promised to you during the start. Also ask the builder to show all the necessary permissions that are acquired from the concerned authorities.займ на карту без отказов круглосуточновзять кредит онлайн

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