HYDERABAD: At a time when the Donald Trump regime has triggered uncertainty over immigration policies and tariff threats, about 30 real estate firms from Hyderabad are preparing for their American debut. Come April, these developers with projects in the city will travel to the US with their first ever property show in the country that is home to a large Telugu diaspora.
Their destinations: Frisco (Dallas) and Santa Clara (California).
With the market back home not in the pink of health and the dollar growing stronger by the day, developers feel it’s the opportune time to make this trip. “Also, we want to reinstate the faith of NRI buyers in the Hyderabad market and dispel their fears of it collapsing – as some sections of prospective buyers seem to believe,” said V Rajasekhar Reddy, president, Credai – Hyderabad.
The dates and final list of participants are yet to be finalised.
On display at the property show in the US will be premier projects priced upwards of Rs 2 crore to Rs 2.5 crore. And while the focus will lie on those dotting the skyline of hi-tech Hyderabad – running along the Gachibowli-Narsingi-Kokapet stretch – projects from east of the city, particularly Uppal, will also be showcased.
“About 20% to 25% of the products will be from other parts of the city away from the western corridor. It will be a combination of villas, apartments and even commercial ventures,” said Reddy sharing how many investors now are putting their money in commercial projects as the return on them are relatively higher than residential.
“Given that a significant section of the Telugu-speaking population in the US belong to districts such as Nizamabad, Kamareddy etc. they might be interested in properties that are away from the IT hub. Hence the mix,” another Credai official added.
Telugus in the US are optimistic about the plan. “A lot of people here are scouting for investment opportunities back home. They are only hesitant because of the negative sentiment riding the market which is rooted in multiple reasons such as the crackdown by Hydraa, rising cost of property etc. But if developers make the right pitch and extend lucrative offers, NRIs will be more than willing to put their money there,” said Chandra Sriramoju, a senior tech executive based out of Seattle. He bought two properties – in Manikonda and Kokapet – recently. He said the strengthening of the dollar, coupled with easy access to borrowing in the US, has made the diaspora the most sought-after client base for builders.
And contrary to fears about the Trump regime forcing Indians to put brakes on investment plans – about 60% to 70% Indians in the US are on a H-1B visa — real estate pundits feel that it has, instead, pushed them to look at options in India, more aggressively. “Interactions with investors in America tell me that many Telugus now want to ensure they have a home in Hyderabad that can work as a safety net, in case things do not work out as per plan there,” said the proprietor of a major realty firm.