Land prices in the city's outskirts have risen exponentially in recent years. Jubilee Hills, with its rows of massive apartments, is one of the city's most upscale places. However, prices in areas like Kothur, Shadnagar, and Medchal, which were hovering around Rs 1 to Rs 2 crore per acre until 2020, have also more than doubled to Rs 3.5 to Rs 4 crore per acre, as per market estimates. 

Land Rates in Hyderabad's Outskirts

Each of these areas is at least 3,040 kilometres from the city's IT corridor. Within a 10-kilometre radius of this tech hub, land prices have outpaced Rs 50 crore. Some landowners in Kokapet are reportedly demanding up to Rs 60 crore for a single acre. 

Till now, it was confined to Rs 30-35 crore. In Jubilee Hills, there was only a minor change in value. It has remained stable at Rs 1.2- Rs 1.5 lakh per square yard, with a few land deals reaching Rs 2 lakh per square yard. The most sought-after address among the city's mobile population is Jubilee Hills. 

A real estate expert stated that the deals here are only few and far between. The rates have remained unchanged. In this area, there is no authorisation for high-rises, which restricts construction activity. 

A positive view on rapid growth, expansion beyond ORR in all directions, and, as always, high investor interest are driving the demand among the general public. 

Besides NRIs, investors from the neighbouring states and other parts of India are moving the price curve upwards, triggering an unprecedented short-term price movement in the market.

By: Shailaja K