- Hyderabadis incline towards buying luxury homes
- Anarock study reveals
The Hyderabad real estate market is zooming past other markets if an acre fetching Rs 100 crore the other day in Kokapet is an indication. Yesterday, a square yard fetched Rs 1,05,000 in Mokila. It caused many to raise their eyebrows. In latest development, the Hyderabad city market is awe-inspiring in the sale of luxury homes compared to other metro cities in the country. The prices of luxury houses have gone up in the city market by 42%.
During the past five years, the prices of premium housing units whose cost is more than Rs 1.5 crore have increased in a significant way, Anarock group says. The prices of luxury houses in Hyderabad market in 2018 were put at Rs 7450 per sft. Now it rose to Rs 10,580. The increase in luxury houses in cities like Bangalore and Mumbai was limited to 27% only. In Bangalore, the sft of a premium house is put at Rs 10,210. It now rose to Rs 12,970 per sft. In Mumbai, the per sft cost has gone up from Rs 23,119 to 29,260. Only after the pandemic situation, the supply and demand for luxury homes in the market has increased, according to Anarock Group chairman Anujpuri.
