Hyderabad until recent times was branded as the most affordable city. When it comes to the real estate market from the domestic side it has become the second costliest city after Mumbai.
It is a known fact that Mumbai is very costly when it comes to the real estate market. But now Hyderabad stood in second place.
According to the survey, the average prices for square feet in Hyderabad are higher than in other metro cities like Bangalore, Chennai, Pune, and the national capital Delhi. In Hyderabad, the average prices are between 5,800-6,000, only next to Mumbai.
Even after the rise in rates, Hyderabad had managed to witness a big jump in sales compared to the previous years and the previous quarter.
More than 7,800 properties were sold in the third quarter that translates to a growth of 140 per cent than the previous year.
As the cost is going up the sales are also going up in Hyderabad. People are purchasing the lands and flats left and right so that they can grab one property before the rates go up.
The registration offices are also doing good business these days with the revised rates. Even after Corona the financial status of Telangana is good.
