Hyderabad, March 23: (Maxim News) In Hyderabad, there’s a noticeable surge in demand for high-end residences compared to last year, particularly evident at the beginning of this year. In 2023, houses valued at over Rs.1 crore made up 8 percent of the market share, a figure that has now risen to 14 percent, driven by escalating real estate prices, according to industry insiders.
For those seeking a two-bedroom flat in a gated community with basic amenities, the costs are substantial. Presently, the average square foot price in the city stands at around Rs.5 thousand. This base price translates to a cost of up to Rs.70 lakh for a 1400 square feet two-bedroom flat. Additional expenses, such as infrastructure charges for amenities like car parking, clubhouse membership, gas, and EV charging points, amount to approximately ten lakh rupees. Five percent GST, along with registration, stamp duty, and transfer charges, add another 10 lakhs to the bill. Furthermore, an additional ten lakhs are typically allocated for interior design. In essence, even with a budget of one crore rupees, one can only afford a two-bedroom flat.
Should one desire a more spacious three-bedroom layout, costs escalate further. Factors like floor rise charges for upper-floor apartments, orientation preferences (east or north-facing), and additional amenities like balconies overlooking ponds or gardens all come with their extra charges. A three-bedroom flat outside the IT corridor typically costs around one and a half crores, while within the IT corridor, prices range from two to two and a half crores. This explains the spike in registrations for houses exceeding one crore rupees in January, with 71 percent of registrations falling within the 1000 to 2000 square feet range.
To cater to the common and middle-class segment, some builders are constructing two-bedroom flats within 500 to 1000 square feet, categorized as affordable housing. With a reduced GST rate of 1 percent, these units are priced at around Rs.50 lakhs. However, due to a tepid response from buyers, not many developments are underway in this sector. Registrations for these affordable units dropped from 17 percent in January 2023 to 14 percent this year. (Maxim News)
Next Story :
Revenue Inspector Caught By ACB While Taking Bribe Of Rs. 10 Thousand
Warangal/Hyderabad, May 14 (Maxim News): ACB officials have arrested a Revenue Inspector who demanded a bribe from a victim who approached them for mutation of ancestral property in his name. G Rambabu, working as an RA in the Tehsil Office of Duggondi Mandal, Warangal district, was caught by Warangal Range ACB officials on Thursday while…
Singareni To Appoint Woman Dumper Operator For First Time In 130 Years
Hyderabad, May 14 (Maxim News): In a historic step towards women empowerment, the Singareni Collieries Company Limited has initiated measures to appoint women as heavy dumper operators for the first time in the company’s 130 year history. Here To Join Us On WhatsApp The decision follows directions issued by the Telangana government to create greater…
Telangana Mega Growth Corridor, ORR For Key Cities
Hyderabad, May 14 (Maxim News): Telangana Chief Minister A Revanth Reddy has unveiled a long-term infrastructure and urban development strategy aimed at transforming the state over the next 25 years. The plan focuses on new growth corridors, improved connectivity, green energy adoption, temple tourism, and modern civic infrastructure across Telangana. Here To Join Us On…
Paper Leaks ‘Demonetised’ Students’ Future: Telangana Government On NEET Crisis
Telangana government criticised the NEET UG 2026 paper leak and demanded accountability, transparency and stronger safeguards.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
