Constructions increase towards RRR
Affordable rates
Middle-class people eye properties around RRR
With increasing home prices, middle-class and upper-middle-class residents are finding it challenging to fulfill their dream of owning a home in Hyderabad. As the real estate market within the Outer Ring Road has become unaffordable, many are now looking towards the Regional Ring Road. This shift is likely to increase demand for real estate between the Outer Ring Road and the Regional Ring Road.
The Telangana government has prepared plans to set up large industrial parks along with Future City in these areas, prompting builders to significantly plan residential projects between the Outer and Regional Ring Roads.
Within the Regional Ring Road, substantial real estate ventures have already emerged, including farmhouse projects with approvals from HMDA and DTCP. While properties within the Outer Ring Road start at a minimum of Rs 5,000 per square foot, the Regional Ring Road areas offer options ranging from Rs 3,000 per square foot for flats. Currently, double-bedroom flats are available from around Rs 40 lakhs, while triple-bedroom flats are accessible for around Rs 60 lakhs.
There is also a growing demand for plots between the Outer and Regional Ring Roads. Numerous real estate ventures have existed here for a long time, and many are now purchasing flats in light of the developments surrounding the Regional Ring Road. Areas like Amanagal, Shadnagar, Sangareddy, and Ibrahimpatnam are particularly attracting buyers looking for land.
Previously, the price per square yard varied between Rs 12,000 and Rs 18,000, but prices have now increased to between Rs 15,000 and Rs 25,000 per square yard, according to real estate sources. Once the work on the Regional Ring Road begins, these prices are expected to rise even further.
