Hyderabad Property Prices Have Increased By 7%

A report prepared by an online real estate company revealed that the property prices in Hyderabad exhibited an annual increase of 7 percent in the first quarter of the calendar year of 2022.  

It associated the price hike with the all-around economic growth that is being witnessed strengthening the prospects of India’s biggest employment producing sector. 

According to a report which evaluates the operations of India’s eight prime residential markets, the average rate of any property in Hyderabad is now marked at Rs 6,000 to Rs 6,200 per square foot, rendering it to be the second most expensive market on the record. 

Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com & Makaan.com said “Aside from sky-rocketing construction material costs, price growth in Hyderabad is also being fueled by an improvement in demand for large, luxury homes.”  

As disclosed by sector insiders, residential prices in India are anticipated to rise at a faster rate than what was expected initially. 

New supply rose 92 percent during Q1 2022 when distinguished to the same period in 2021, residential sales in Hyderabad witnessed a 15 percent decline in the period enclosed. On a quarter-on-quarter basis, however, sales enrolled a 53 percent jump.