In Hyderabad, house prices jumped 7% in 2021. After the average prices, Hyderabad has become 2nd most expensive housing market after Mumbai. In Hyderabad, the average price for square feet is at Rs 5,900 to Rs 6,100. Demand for housing is continuously increasing in Hyderabad. With the number of home sales in 2021 raise of 36% when compared to the same period in 2020.
Regardless of the high price, Hyderabad noticed a high jump in sales compared to previous years. Much of the sales took place in Bachupally, tellapur, Gandipet, Dundigal, and Miyapur. Hyderabad has the lowest inventory among the top eight cities in the country. Low inventory considers the best example for growth. Delhi stood at last place has the highest inventory followed by Mumbai, Ahmedabad, Pune, Bangalore, and Chennai.
The sales were high in the quarter because the major companies and banks are giving loans with less interest and encouraging customers to buy properties. Going the same trend the residential market may take forward the growth in the next quarter too.
Global giants such as Google, Apple, Amazon data center, Microsoft, Deloitte, Genpact, and other blu-chip firms such as TCS, Wipro, and Infosys continue to expand their operations in Hyderabad. The affordable parcels of land have attracted businesses from all over the world to make investments in Hyderabad.
The creation of these companies and have created many jobs available to people all across the globe with increasing number of people living in Hyderabad. So, the real estate market in Hyderabad is expected to expand. Hyderabad is famous for its world-class infrastructure, and this is also a significant reason for to increase in the demand for apartments for sale in Hyderabad. A recent media report has disclosed it is the case that Telangana state has allocated around 63% of the budget for infrastructure and economic development.
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