Hyderabad Most Affordable City to Buy Property in India

Hyderabad continues to be an affordable city to buy property in when compared to six other leading metros in the country, despite a constant rise in property prices, driven by reasons including the rising demand for housing, the city's strong economic growth, and general infrastructural development.

The average property prices in Delhi-NCR, Kolkata, Mumbai, Pune, Hyderabad, Chennai, and Bengaluru were recently compared in a research by real estate consultant Anarock. It was found that Hyderabad's average property price, which is considerably less than the average price of properties in other cities, is Rs 4,620 per square foot.  Hyderabad's real estate market has been expanding steadily, driven by a rise in demand for both residential and commercial buildings. The state government's efforts to build infrastructure and enhance connection have significantly boosted the real estate market. In addition, the city is home to numerous prominent IT companies that draw a lot of working professionals.

The average house price in Hyderabad increased by no more than 10% annually during the previous five years. It is still one of the cities in India where buying a home is one of the most affordable options. In the city, the average price in 2018 was Rs 4,128 per square foot, and by 2022 it will be Rs 4,620. While the average price of a home increased to Rs 5,570 per square foot in Bengaluru in 2022, Mumbai led the list with Rs 11,875 per square foot, followed by Pune (Rs 6,000 per sft).

The majority of current sales are being made by reputable developers, who have not been afraid to raise prices in response to high demand and growing building expenses, he continues. Although end-user demand is expected to be the main driver in 2023, serious long-term investors will find the market dynamics to be quite favourable.