Land Rates in Hyderabad
Hyderabad is the capital city of the Telangana state, formed in the year 2014. Located in the southern part of the state, Hyderabad is along the Musi River banks, a tributary of the Krishna River.
The City of Pearls is known for the buzzing bazaars and the charming markets. Hyderabad has attracted the global leaders of various industries to set up their franchises in the city, like Amazon, IKEA, and many more. The city has set examples with success stories that exhibit the potential of the city.
The city has the optimal climate and geography best supported by government initiatives and policies to boost the inflow of investment. Let us get to know the city’s geography and its connectivity that has attracted the global companies’ establishments.
Geography of Hyderabad
Hyderabad is geographically placed at 1,566 Kilometers (973 miles) south of Delhi, 699 Kilometers (434 Miles) South-east of Mumbai, and 570 Kilometers (350 Miles) North of Bengaluru by road. It is closely connected to metropolitan cities like Mumbai and Bengaluru, making it feasible for connectivity, the prime concern of business and trade.
The city is spread over an area of 625 sq. Kilometers (241 Miles), which makes it one of the largest metropolitan cities in the country. The city is situated at an altitude of 542 meters (1778 ft) and is surrounded by artificial lakes created by the dams on the river Musi.
Comparison of Area Wise Land Prices in Hyderabad
The GDP (Gross Domestic Product) of the city in 2019 was USD 83.5 Billion that positioned it in fourth place in India and 93rd in the world. Also, Hyderabad is the house for the highest number of SEZs (Special Economic Zones) among other cities of the country.
The government’s latest policies like Look East and North Policy, Integrated township have lent a helping hand to build a robust base for the industries. Hyderabad Real Estate has been the shining light for the city, with the interdependence of the other sectors like IT and E-commerce on Real estate. With the advent of the IT corridor, the surrounding areas have witnessed a surge in investments, which led to soaring prices. The city has experienced immense infrastructure development and employment opportunities, which further boosted the demand and market.
Though the city has seen a transformation as an IT hub in recent years, it still retains the inrush’s affordability – driving characteristic. The land prices in metropolitan cities like Mumbai and Delhi are going through the roof. According to the National Housing bank’s Residex, Mumbai’s land rate stands at INR 23,400 per sq. ft while Delhi stands at INR 9,700 per sq. ft. Compared to them, Chennai and Bengaluru are INR 6,900 per sq. ft, bringing a sigh of relief to the customers. Hyderabad holds happy news for the investors, with the average land prices nestling at INR 4,500 per sq ft, making way for investor’s dreams.
The land prices mentioned above are summed up in a table.
While the above-mentioned prices are average of the large cities, let us delve into the area wise land pricing of Hyderabad city.
The areas like Kukatpally have almost seen prices doubling due to the areas lying in the expanding IT corridor’s vicinity. The land price at Kukatpally is estimated to be ranging from INR 48 Crores to INR 58 Crores per acre. The constructed apartments have broadened their price bracket, extending from INR 13 Lakhs to INR 1.69 Crores, averaging the per sq. ft price to INR 8,040 per sft.
Narsingi and Kondapur attract investments due to the easy access to Outer Ring Road that enhances the connectivity to prime locations like the Financial District, Gachibowli, Hi-Tech City, and the entire city. The spectrum of the land prices in Narsingi is from INR 2,882 to INR 16,216 per sq. ft. This brings the average land price of the area to INR 7,953 per sq. ft. Similar is the story of the Kondapur with the land priced at as low as Rs. 2,771 and as high as Rs10,000 per sq. ft that brings the average to an approximate of Rs.8,670 per sq. ft.
Ameerpet is queuing up the list of places attracting land investments with the price bracket of INR 4,319 to INR 6,667 per sq. ft, and the average price stands at Rs. 5,857 per sq. ft. The next area is Hyderguda, with the land price fixed at INR 4,583 per sq. ft. The areas like Begumpet and Sri Nagar Colony have the lands priced at Rs. 6,672 per sq. ft and Rs. 7,210 per sq. ft, respectively.
The land price list is topped by Banjara Hills and Jubilee Hills, where the price is pegged at Rs.87 Crores per acre. The high price is often attributed to the high demand, which stands true in this case. The scarcity of the land has saturated the area’s new developments.
The area-wise prices are presented in the table for easy reference.
Other localities anticipated to experience growth are Rajendra Nagar, Shankarpalli, Adibatla, Kompally, and Nacharam. The prices of land in these areas is ranging from Rs. 3,000 to Rs. 5,000 per sq. ft. The connectivity of these locations supported by the low prices drives the demand of the homeowners to these areas. This, in turn, might churn the market and shoot up the land prices.
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Land Rates in Hyderabad FAQ's:
The places that are experiencing a surge in the land prices of Hyderabad are Shankarpally, Adibatla, Kompally, to name a few.
The land prices are increasing in Hyderabad due to the growing activities of the industries that are elevating the demands in the market. Also, there are areas like Banjara Hills and Jubilee Hills that are experiencing the scarcity of unutilized land, which is shooting up the prices.
The average land rates in Hyderabad is Rs.4,500 per sq. ft. It is quite affordable when compared to the land rates of other metropolitan cities like Mumbai, Delhi which stand at around Rs.23,400 and Rs.9,700, respectively.
The average land rate of Ameerpet in Hyderabad, which is witnessing a surge in demand is Rs.5,587.