House prices in Hyderabad increased drastically.
We are in a time and place where one needs to spend at least Rs. 1 crore to own a desired house in Hyderabad. If we want a 2-bedroom flat with basic amenities in the desired location, then Rs 1 crore is the basic amount.
Currently, the average price per square foot in Hyderabad is Rs. 5,000. This is the base price, and charges for amenities, car parking, etc. are additional. A flat base price of 1400 sq ft for 2 BH will be Rs. 70 lakh. Additional Rs. 10 lakh for amenities, car parking, etc., 5 percent GST, up to 7.6 percent registration, stamp duty, transfer charges, and another Rs. 10 lakh for the interior. If you spend a total of Rs. 1 crore, you will get the flat you wish for. If you want a more spacious flat, you have to spend a little more. The sale of expensive houses has increased with the increase in house prices in Hyderabad. Last year, the share of sales of houses priced above Rs. 1 crore was 8 percent of the total house sales in the city, but it increased to 14 percent at the beginning of this year. A property worth Rs. 5.16 crore was sold in Banjara Hills; flats worth Rs. 5.09 crore were sold in Puppalaguda; Rs. 4.43 crore was sold in Narsingi; and Rs. 4.22 crore was sold in Somajiguda. Although house registrations have decreased in January this year compared to last year, the sales value has increased by 24 percent due to the increase in prices.
