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    HomeTelanganaStudy reveals nearly 100,000 unsold plots in Hyderabad

    Study reveals nearly 100,000 unsold plots in Hyderabad

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    The real estate sector in Hyderabad has been growing rapidly in recent years, especially in terms of land prices. The price of an acre in the city has reached a record-breaking one hundred crore rupees. However, for the common man, owning a house remains a difficult dream.

    Not only have the prices of flats in houses and apartments increased significantly, but there has also been a decrease in demand for them. In the first quarter of this year (April-June), 5.26 lakh flats were left unsold in 9 major cities across the country. Hyderabad alone accounted for 99,989 unsold plots, ranking second in terms of the number of unsold flats in ready-to-build apartments.

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    Thane in Maharashtra topped the list with 1,07,179 unsold flats. This information was revealed by Prop Equity, a leading website that analyzes real estate sales in major cities. The report also showed that the number of unsold flats in Hyderabad has increased by 5% compared to the previous quarter.

    The website’s analysis suggests that middle-class individuals are moving away from their dream of owning a house due to the ever-increasing prices of flats in the city. It has been found that there has been a significant reduction in IT employees and job insecurity, leading to decreased interest in purchasing flats. Rising prices and high EMIs have also made IT employees reluctant to buy flats.

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    In summary, while the real estate sector in Hyderabad is booming, the increasing prices and decreasing demand for flats are making it difficult for the common man to own a house.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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