Hyderabad has been among the most popular metros in the Indian subcontinent and has been hailed for its infrastructure and quality of living. The city has been ranked first, among all Indian metros, in Mercer’s Quality of Living survey, for the last many years.
The city has also fared well across other aspects, with a flourishing job market for Pharma and Tech, excellent connectivity, a relatively low crime rate, good schools, good hospitals, and low pollution levels. All these factors have led to a corresponding increase in the demand for housing and real estate in the city.
Even traditionally, this city of pearls has been a popular real estate destination, primarily due to its location and history. Urban migration, robust infrastructure and government policies that promote real estate development have also been the factors underlying the growth of the realty market in the city. The State government has pushed for the development of IT & ITes, Pharmaceutical and other allied industries in the state, along with efforts to develop infrastructure and improve connectivity between Hyderabad and major cities in the nation and globally. This has significantly boosted the real estate sector in Hyderabad, which is today home to major industries and a large number of working professionals.
Despite this steady growth of real estate, Hyderabad is the most affordable metro in India for realty investments. This city has always been known as a price-conscious metropolitan city in India, and recent studies highlight the same. A recent report by a leading property consultant compared the average property prices in Mumbai, Delhi-NCR, Kolkata, Hyderabad, Pune, Chennai, and Bengaluru. According to the report, the average property price in Hyderabad is Rs. 4,620 per sq.ft, which is comparatively lower than in other cities.
The city has recorded a maximum five-yearly increase of 10% in average property prices in the last five years. The average price for homes in Hyderabad increased from Rs 4,128 in 2018 to about Rs 4,620 in 2022. On the other hand, the average price of a home in Mumbai rose to a massive Rs 11,875 per square foot in 2022 and to Rs 5,570 per square foot in 2022 in Bengaluru.
Market experts say that the majority of current sales in the city are being made by reputable developers, who aren’t shying away from increasing prices to meet the high demand and rising construction costs. Despite this, the fact remains that Hyderabad is amongst the most inexpensive Indian metropolises.
In the financial year 2023-24, the end-user demand is expected to be the primary driver of growth, as serious long-term investors will find market dynamics to be quite favourable. The city and its suburban districts like Medchal-Malkajgiri, Rangareddy, and Sangareddy witness high residential demand, which is expected to continue in the coming years.
With booming infrastructure development and job opportunities, the areas in Medchal and Ranga Reddy districts are the ideal investment hub for the future. TMR Green Meadows at Chegunta, just 30 minutes away from Medchal, and TMR Swiss County at Maheshwaram in Ranga Reddy district are nestled amidst a number of development opportunities and make the perfect investment for a thriving future. Come plot a successful future here for your family and loved ones. Visit https://tmrinfra.com/ for more details.
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