Where to Look for Apartments in Hyderabad

Hyderabad real estate is on the path for recovery. The real estate business here took a hit because of the economic slowdown and the political instability. Here is a look at 2 micro markets which are in demand. 

Miyapur is known to be one of the more affordable micro markets in Hyderabad. The going rate for apartments in Hyderabad located in Miyapur stands at INR 3026 per square feet on average. This is a minimal drop of 1 % when compared to the previous quarter.  In the third quarter of 2013 the going rate for apartments here stood at INR 3282 per square feet on average. This was an increase of 7 % in prices when compared to the previous quarter. In last quarter of that year the rates for properties in this micro market dipped by only 1% and stood at INR 3254 per square feet on average. In the first quarter of 2014 the prices dipped by 6% and stood at INR 3063 per square feet on average. The going for a property for sale in Hyderabad such as an individual house or a villa located in this micro market is currently at INR 5000 per square feet on average. The going rate for the same stood at INR 4300 per square feet a year ago.

 

2 BHKs are in maximum demand in Miyapur. 3 BHKs come in second. The most preferred unit size for apartments here falls between the 1001 and 1250 square feet range. This is followed by the 1251 to 1500 square feet range. The most preferred budget range for properties here falls between INR 1 and 2 crores. This is followed by the INR 30 to 40 lakhs range. Buyers are willing to purchase properties which are priced between INR 2501 to 3000 per square feet here. This is followed by properties which are priced between INR 2000 and 2500 per square feet.

Banjara Hills is one of the most posh localities in this Hyderabad. The going rate for apartments in Hyderabad located in Banjara Hills stands at INR 8600 per square feet on average. This is a dip of 5% when compared to the previous quarter. In the third quarter of 2013 the going rate stood at INR 11800 per square feet on average. This was an increase of 7 % when compared to the previous quarter. In the last quarter of that year the going rate went up by 3% and the prices stood at INR 12200 per square feet on average. In the first quarter of 2014 the prices dipped by 26% and stood at INR 9000 per square feet on average. The going for a property for sale in Hyderabad such as an individual house or villa located in Banjara Hills currently stands at INR 8600 per square feet on average. The going rate for the same stood at INR 12200 per square feet a year ago. 

There is maximum demand for 3 BHK apartments in Banjara Hills. The most preferred unit size for apartments here falls between 1001 and 1250 square feet. Buyers are willing to spend anywhere between INR 2 to 5 crores on apartments here. 

Nandini Gowda is a freelance writer and  blogger, following the Villas in Bangalore and real estate sector closely for many years. Her areas of expertise are plots for sale in bangalore , finance and real estate sector in India.

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