Bigger homes, especially 3BHK units, are in high demand in Hyderabad due to changing lifestyles, financial concerns, and investment strategies. In keeping with this trend, IRA Realty has 3-BHK units at Rs 99.28 lakh available at an IRA Miracle in Kollur. Propertywala explains how IRA Realty meets the changing needs of Hyderabadi homebuyers.
Hyderabad’s biopharmaceutical, IT, and Special Economic Zones (SEZ) sectors are well-known, and the city’s pearl trading and processing industry is growing. The real estate market in Hyderabad is also booming. The city remains one of the top locations for real estate investments, drawing clients from domestic and foreign markets. But in the post-COVID era, buyer’s preferences for homes have evolved. Buyers are now willing to upgrade from the formerly 2 BHK to larger units that accommodate their hybrid work models.
The declining interest rates on home loans are another factor supporting this trend in investing. To meet the changing needs of contemporary consumers, IRA Realty is building IRA Miracle, a 3BHK housing community in Kollur, Hyderabad. Let us examine the factors causing Hyderabad to see a rise in the demand for larger spaces alongside the options currently available to potential homeowners.
Why are Hyderabadi people starting to prefer 3 BHKs?
A large living area is required.
Particularly in the aftermath of the pandemic, the need for additional living space has become apparent. The emergence of hybrid work models has led to a rise in demand for apartments that provide warm living, flexible workspaces, and a separate home office. 3-BHK configurations were, hence, the best option. Aside from that, the fact that both adults and children value privacy has led to the need for more rooms. Because of this, IRA Miracle by IRA Realty sticks out from other projects.
In the up-and-coming Kollur neighborhood, close to the Outer Ring Road, IRA Miracle provides luxurious 3-BHK apartments with contemporary amenities that meet modern living standards. These Vastu-complaint apartments are priced between Rs 99.28 lakh and Rs 1.35 crore and have sizes ranging from 1,655 sq ft to 2,455 sq ft. Every housing unit at IRA Miracle has an independent wall, giving each family a peaceful and private area. It is one of the community’s most noteworthy features.
Enhanced accessibility
There has been a noticeable change in the preferences of urban residents when it comes to purchasing homes, as disposable income has been steadily rising. A greater variety of prospective homeowners can now afford the 3-BHK apartments. Lower rates on home loans and the construction of larger projects in the outlying areas that provide more open spaces and improved lifestyle amenities are the primary causes of the fad. Due to their desire to work from home and benefit from the modern amenities and greener surroundings, homebuyers are also willing to invest in such projects.
One such project, IRA Miracle, aims to cater to the expectations of contemporary homebuyers by providing fully developed landscaped gardens, greener surrounds, and modern amenities, like a library, spa, and pool table, among others, to break up the monotony after a long day at work.
Regarding facilities, IRA Mriacle offers a lavish multilevel clubhouse spanning 20,500 square feet with premium features to provide an upscale living experience. IRA Miracle is a project currently under construction with a completion date of December 2024. Its RERA number is P01100002811.
A higher return
Choosing the right kind of property is essential for maximizing returns on real estate investments, which are considered long-term strategies. In the real estate market, larger units—like 3BHK houses—generally have a higher resale value. The property’s versatility makes it appealing to a broader range of buyers.
3-BHK homes have a high resale value, showing their enduring appeal and financial benefits. These apartments stay relevant and appealing as families expand and lifestyles change, guaranteeing a steady demand in the real estate market.
Possibilities for rentals
Hyderabad’s expanding industries, particularly in the IT/ ITeS sector, are driving up demand for rental housing. Professionals and students searching for a comfortable and spacious rental property often choose 3-BHK apartments because they can accommodate multiple inmates, lowering the monthly cost per person. Therefore, homeowners can investigate renting out all or part of their 3-BHK apartments to generate rental income.
Because tenants prefer buildings with better amenities and less maintenance, newer developments—like IRA Miracle, which will be ready for occupancy by the end of the year—are also much easier to lease out than older ones.
Long-term financial commitment
These larger apartments provide adaptability that meets homeowners’ changing needs, whether they want to upgrade their lifestyle or prepare for a growing family. Larger units also raise one’s status and are seen as an asset.
In conclusion, the changing tastes of contemporary homebuyers have shaped the rising demand for 3-BHK homes in Hyderabad. These bigger apartments provide an all-encompassing answer, meeting demands for roomy living areas and the possibility of higher profits and rental income.