At Rs 6000 per sq ft, Hyderabad property charges second in India – The New Indian Categorical


By specific information service

HYDERABAD: With property values ​​in Hyderabad rising by seven per cent within the first quarter of this yr, the typical price of properties within the state capital is now over Rs 6,000 per sq ft, making it the second costliest market within the nation. .

Based on on-line actual property firm PropTiger.com, among the many nation’s eight main residential markets, property worth is highest in Mumbai at Rs 9,800 to Rs 10,000 per sq ft, adopted by Hyderabad (Rs 6,000 to Rs 6,200 per sq ft) and Chennai. (Rs 5,700 to Rs 5,900 per sq ft).

The report mentioned costs in Hyderabad continued to rise amid a fall in home gross sales. Whereas new provides elevated by 92 per cent through the first quarter of 2022 as in comparison with the identical interval final yr, town noticed a 15 per cent decline in residential gross sales within the coated interval. Nonetheless, there was a 53 per cent soar in gross sales on a quarter-on-quarter foundation.

A complete of 6,556 items have been bought in Hyderabad in Q1 whereas 14,572 new houses have been launched through the three-month interval. From a metropolis that not way back had the very best stock profile, Hyderabad is now watching an enormous stock inventory and an elevated stock overhang.

It would take an estimated 42 months for actual property builders in Hyderabad to promote the unsold inventory, which incorporates 73,651 items. In the identical interval final yr, the stock overhang in Hyderabad stood at 25 months.

Mr. Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com and Makaan.com, mentioned, “Aside from the rise in the price of development supplies, the rise in costs in Hyderabad can also be as a result of an enhancing demand for giant, luxurious houses. “



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