Sunday, September 24, 2023
    HomeTelanganaProperty Buyers’ Budgets Affected by Increasing Construction Costs in Hyderabad

    Property Buyers’ Budgets Affected by Increasing Construction Costs in Hyderabad

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    Research shows that building luxury residential apartments in high-rise buildings in Mumbai costs around Rs 5,625 per square foot. In comparison, the estimated construction cost for houses in Hyderabad is about Rs 4,275 per square foot. Mumbai’s construction costs are approximately 10 percent higher than other major cities like Bengaluru, Pune, New Delhi, and Chennai.

    Hyderabad is known for its affordable low-cost house construction compared to other cities in India. It is 14 percent cheaper than Mumbai, which has high construction costs.

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    For medium-rise commercial buildings, the expenses vary by city. In Mumbai, it costs around Rs 3,250 per square foot, while in Delhi, the cost is approximately Rs 2,860 per square foot. In Hyderabad, the average construction expenses for similar properties are around Rs 2,470 per square foot.

    The increasing cost of living is a significant factor affecting real estate decisions. Companies are reevaluating their property choices to manage their spending. The rising construction costs in Hyderabad are still being debated, but it is clear that expenses are increasing. Understanding and managing these costs are crucial for staying within budget and delivering high-quality projects.

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    Prospective property buyers in Hyderabad should be prepared for higher property prices. The prices of construction materials have risen, especially after the pandemic. Limited production capacity and supply shortages have led to significant increases in the prices of essential construction materials like cement, steel, solid blocks, nails, binding wires, and plywood. As a result, both commercial and residential property costs in Hyderabad are increasing.

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    Rajesh M
    Rajesh M
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