The Hyderabad real estate sector has seen consistent growth over the past couple of decades. This growth has been fuelled by a combination of intensive infrastructure development and ample employment opportunities. Hyderabad is fast cementing its reputation as the front runner for all IT and ITES investments in India. The abundance of elevated corridors, road networks, Metro Rail and its unique culture further add flavour to the Hyderabad growth story.
Despite this growth, land prices in Hyderabad remain affordable. According to National Housing Bank’s Residex, land prices in Mumbai are peaking at INR 23,400 per sq ft and INR 9,700 per sq ft in Delhi, whereas those in Chennai and Bengaluru are INR 6,900 per sq ft. Hyderabad, however, is still averaging INR 4,500 per sq ft, making it any home owner’s dream.
Here’s a look at the breakdown of land prices in Hyderabad area wise:
A few areas in Hyderabad have seen almost 100% price escalation over the past two years. Leading this list is the area of Kukatpally due to the proximity of Hyderabad’s IT corridor. The cost of land in Kukatpally is said to be about INR 48 Cr to INR 58 Cr per acre. While apartment prices range from INR 13.1 Lakhs to INR 1.69 Cr, the per-square-foot price is approximately INR 8040 per sq ft.
Narsingi and Kondapur are two other areas that are attracting a lot of investment. The area of Narsingi is also in close proximity to the Outer Ring Road, which provides great connectivity to the Financial District, Gachibowli and HITEC City within a 25 km radius. An analysis of the land prices in Hyderabad area wise shows that land in Narsingi varies from INR 2,882 to INR 16,216 per sq ft and averages at 7,953 per sqft. Land in Kondapur, on the other hand, averages from INR 2,771 to INR 10,000 per sq ft and averages at INR 8,670 per sq ft.
Also topping the charts of land prices in Hyderabad area wise is Ameerpet where the price ranges from INR 4,319 to 6,667 per sq ft and averages at INR 5,857 per sq ft. This is followed by Hyderguda with land price pegged at INR 4,583 per sq ft here. Other leading localities are Sri Nagar Colony, where land is priced at INR 7,210 per sq ft and Begumpet, where land price averages at INR 6,672 per sq ft.
Further analysis of land prices in Hyderabad area wise also shows that cost of land is extremely high in Banjara Hills and Jubilee Hills, amounting to INR 87 Cr per acre. This is mainly due to scarcity of pristine and unutilized land, which has prevented further development of land and new ventures.
The next wave of growth for real estate in Hyderabad is predicted to come from budding localities such as Rajendra Nagar, Shankarpalli, Adibatla, Kompally, and Nacharam. While not so expensive at present, a quick glance at the land prices in Hyderabad area wise shows that these localities are fast being sought by homeowners due to their location and connectivity. Prices for land in these areas are still on the lower side and average between INR 3000 to INR 5000 per sq ft.
If you’re looking to make a real estate investment in Hyderabad, now is definitely a good time to do so. The scenario is promising, and the value of your investment will only increase with each passing day.