Associated with the price hike is the overall economic growth that is helping to strengthen the prospects of India’s largest employment-producing sector.
The average rate for any property in Hyderabad is now marked at Rs 6,000 to Rs 6,200 per square foot.
This makes it the second most expensive market in the world. Aside from sky-rocketing construction costs, an improvement in demand for large, luxurious homes is also fueling price growth in Hyderabad, according to Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com & Makaan.com. Residential prices in India are expected to rise faster than expected, according to sector insiders.
During the first quarter of 2022, housing supply in Hyderabad rose by 92 percent compared to the same period in 2021, but residential sales fell by 15 percent. Sales increased by 53 percent quarter-over-quarter, however.