The Garden City of Bangalore and the Historic City of Hyderabad vie with each other in IT sector. However, there is a competition in the real estate sector in the two cities. A debate is on the rage on the topic, “Which city gains precedence over the other in the perspective of real estate development.” When an acre of land fetched Rs 100 in Kokapeta region of Hyderabad, it fuelled the debate further. The people are in a dilemma whether to invest in Hyderabad or Bangalore.
What is important in such a situation is the cost of living, which is 26% less in Hyderabad compared to that of Bangalore. Though the Garden City is called the Silicon Capital of India, the low cost of living makes many incline towards Hyderabad with regard to owning property. During the past five years, the prices of luxury homes rose by 42%, while the prices of luxury homes registered only 27% increase in Bangalore and Mumbai. In the first six months of this year, the sale of residential properties in the garden city is down by 2%, while the sale increased by 5% in Hyderabad. The office space demand in the garden city dipped by10%.
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