Hyderabad’s Real Estate Market Sees Unprecedented Growth in New Areas
The average rent for apartments in Hyderabad has reached 7,150 per square foot, with millions of homes in inventory during the third quarter. The city's inventory has surpassed one lakh units for the first time, with the western part of the city holding the largest share.
Hyderabad: Hyderabad’s real estate sector is experiencing significant growth, with home sales steadily increasing. In the third quarter of this year (July to September), 12,700 homes were sold, and an additional 13,900 units are ready for sale. However, compared to the second quarter, home sales saw a 16% decline, although the sale of new units has increased by 1%, according to Anarock’s research.
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Also Read: Hyderabad Real Estate Guide: Important Points for Safe Property Investments
Sales in the western region of Hyderabad have seen a surge, with 53% of the total home sales this quarter taking place in the western zone. Following this, 28% of sales occurred in the northern zone, 13% in the southern zone, and 4% in the eastern zone. Central Hyderabad accounted for just 1% of the home sales.
Increase in Rent Prices
The average rent for apartments in Hyderabad has reached 7,150 per square foot, with millions of homes in inventory during the third quarter. The city’s inventory has surpassed one lakh units for the first time, with the western part of the city holding the largest share.
Over the past three months, rents for homes have increased by 1 to 4%, while prices for apartments have risen by 3 to 5% per square foot. The rent per square foot in LB Nagar is ₹6,800, in Miyapur ₹6,700, in Gachibowli ₹8,900, and in Kondapur ₹8,600. Rent for two-bedroom and three-bedroom houses ranges from ₹14,000 to ₹42,000 per month.
Real Estate Business Beyond the Outer Ring Road
Hyderabad’s real estate market has gained a significant presence at the national level. The city’s real estate sector has now expanded beyond the Outer Ring Road (ORR). Particularly, plots of land and independent houses are more readily available beyond the ORR, and villas are also being constructed in these areas. Over the past decade, Hyderabad’s real estate sector has grown substantially.
The city’s boundaries have expanded beyond the Outer Ring Road, with real estate projects increasing near exits along highways to Vijayawada, Mumbai, Nagpur, and Srisailam. Prices in this area are steadily rising, and currently, affordable apartments and independent houses are available for the middle class, making them suitable for small business owners and employees looking to purchase homes.
