Also known as Cyberabad, indicating one of the most thriving IT industries in the country, Hyderabad recorded the highest growth in real estate sales in the country after Mumbai. Telangana government’s special efforts in infrastructure expansion and business-friendly policies have resulted in a flourishing economy and an upward trend in office space consumption and home buying. A new home buyer always has many questions before the final decision.
Let us answer some of them:
How is the current real estate market in Hyderabad?
Hyderabad witnessed a 19% growth in the residential units sold in 2022. Affordable property prices, strong infrastructure development, and a booming IT industry are the reasons for this. It is one of the best locations for buying a house as the price appreciation is 5% over the previous year. Both residential and commercial markets are seeing steady growth in sales as builders and developers in Hyderabad are launching new projects.
What are the well-known residential areas in Hyderabad?
There are many well-known residential projects in Hyderabad. One can choose a locality depending on their convenience with respect to the location, amenities and infrastructure. Some of the well-known areas are Banjara Hills, Jubilee Hills, Gachibolwli, HITEC city, etc. Other upcoming areas include Miyapur and Kompaily. Miyapur is a fast-growing residential location in Hyderabad. Due to its easy accessibility and infrastructure, many reputed builders are offering flats for sale in Miyapur.
Kompaily is well known for the many educational institutes found here. It also has a robust commercial infrastructure which compliments its social infrastructure. The flats for sale in Kompally are in great demand amongst the IT professionals in the city.
What is the average price range for houses in Hyderabad?
Many factors come into play when it comes to the pricing of real estate. The locality, the type of house, the size of the house, amenities amongst others. The average price range is from Rs 3000 per sq ft to Rs 12000 per sq ft.
How to choose the right location to buy a house?
The primary factor for choosing a location should be the proximity of the area to the workplace, educational institutions, healthcare facilities, transport hubs, and recreational and leisure centers. The neighborhood’s safety, access to basic utilities, and the prospects of growth of the locality are also important factors. Any new residential project in Hyderabad should fulfill most of these criteria. The amenities and facilities offered by the projects can also be used to shortlist the best.
Hyderabad is one of the best cities in India for buying a home. It is one of the fastest developing cities in the country and has shown excellent appreciation in property prices compared to all the other cities in the country.