Hyderabad City Remains India’s Most Affordable Metropolitan City for Housing

A national survey showed that houses in Hyderabad are still less expensive compared to most major metropolitan cities of India. Hyderabad has been named as the most affordable metro for housing in India in spite of escalation of real-estate market prices in the city. The state govt. of Telangana had recently increased property registration rates and increased the market value of land across the state but Hyderabad still remains as the most affordable city in India in the aspect of housing.

Hyderabad City Remains India’s Most Affordable Metropolitan City for Housing

The cost of real-estate properties, especially residential properties has increased in the city of Hyderabad due to an increase in cost of raw materials required for construction. The average property rates for a residential unit in Hyderabad lies between ₹4,800 to ₹5,000 per sq. ft. while the average cost for a house in other metros of India lie between ₹5,200 to ₹6,000 per sq. ft. The city of Hyderabad and its real estate market continue to attract a lot of interest from real-estate investors and large companies in commercial real-estate thanks to the affordability of property in the city.

Hyderabad also offers the most competitive rates in the country in the commercial sector of the realty market as the city secured large amounts of investments from many large MNCs to set up their operations/plants in the city. The city is also set to receive a larger supply of top-end office space (over 44 million sq. ft.) which will mean that it will receive more commercial space than Bengaluru (approx. 42 million sq. ft.) for the first time. The reason for a robust commercial realty market could be attributed to steady horizontal growth and uniformity of infrastructure across the city.

The ease of living, quality of living, easy commuting, infrastructure sufficiency are all factors that put Hyderabad above cities in terms of being a better prospect for real-estate and the added benefit of property being cheaper only makes Hyderabad the most affordable metro of India. Hyderabad is also continuously adding growth corridors with its already infrastructure which has given rise to multiple residential corridors spread over the city. Industry experts believe Hyderabad was severely affected by the recession from 2008 to 2014, which is why the prices of real-estate in the city are comparatively lower than other metropolitan cities.

The pace of development in Hyderabad bodes well for the retail sector too, in most other cities, retail development is limited to a certain area whereas in Hyderabad retail development is quite uniform and the citizens of the city do not have to travel very far to find what they are seeking.

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