Chadarapu Adugu at Rs.10,410
Prices rise by 13 percent with an increase in demand
Hyderabad | Hyderabad/New Delhi, June 14: The real estate market in Hyderabad is booming. The highest association of realtors in India, CREDAI, along with real estate consultants Colliers and data analytics firm Liases Foras, released a fresh report on Wednesday titled ‘Housing Price Tracker Report Q1 2023’. According to this report, the prices of residential properties in Hyderabad, Delhi-NCR, Mumbai-MMR, Bangalore, Chennai, Kolkata, Pune, and Ahmedabad have increased by 8 percent during the January-March quarter.
After Mumbai, it’s Hyderabad…
In the Mumbai Metropolitan Region (MMR), the prices have surged to Rs.19,219 per square foot. Following that, Hyderabad is next at Rs.10,410 per square foot. However, if we compare it with the previous quarter, the prices in Mumbai-MMR have decreased by 2 percent. In Hyderabad, there has been a modest increase of only 13 percent. On the other hand, Delhi-NCR has witnessed a significant rise of 16 percent in property rates. Kolkata (15 percent) and Bangalore (14 percent) have also seen an increase.
“The rising construction costs along with increasing demand are pushing up property prices. There are still opportunities for further price growth in the coming months. Stable interest rates on home loans and anticipation of future appreciation are encouraging buyers,” said CREDAI, Colliers, and Liases Foras.
