Property Prices Lowest In South Hyderabad, Demand For Plots Rises
Hyderabad, Oct 20 (Maxim News) The real estate market in Hyderabad is witnessing the lowest property prices in the southern areas of the city, along with a rise in demand for plots.
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According to the Homebuyer Sentiment Survey – H1 2024, the average budget range for 2BHK flats in South Hyderabad is Rs 45 lakh to 55 lakh, and the average sqft rate is Rs 5,720.
Property prices are highest in the central areas of the city. The average budget range for 2BHK flats in these areas is Rs 1 crore to 1.5 crore, and the average sqft rate is Rs 9,450.
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As per GHMC, Malakpet, Santoshnagar, Chandrayangutta, Charminar, Falaknuma and Rajendra Nagar come under the South Zone of Hyderabad.
Apart from property prices, the report highlights that the demand for 3BHK units is the highest in Hyderabad. Even across India, the demand for larger homes has continued to dominate buyer preferences since the pandemic.
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In India, compared to the survey conducted two years ago (H1 2022), interest in 3BHK units has increased significantly—from approximately 41 percent in H1 2022 to nearly 51 percent in H1 2024.
Demand for plots increases in Hyderabad, The report highlighted that residential plots are gaining increased interest from prospective buyers, with at least 20 percent of property seekers preferring to invest in them.
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In Hyderabad, 27 percent of buyers are preferring residential plots. Several large and well-known developers have extensively launched residential plot projects.
Similarly, villas and row houses are also increasingly preferred in Hyderabad. However, apartments continue to dominate buyer preferences. (Maxim News)
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