Hyderabad Real Estate: Neopolis Faces 40% Unsold Inventory Amid Price Cuts

A series of high-value land auctions may have thrust Neopolis in Kokapet into the national spotlight, but ground reality for developers tells a very different story. Despite aggressive marketing and soaring land prices, a large portion of residential units launched in this premium real-estate hub remain unsold.

Industry estimates reveal that nearly 40% of the 10,000 homes launched in Neopolis over the last few years are struggling to find buyers. The worst hit are the ultra-large luxury units measuring 4,500 sq ft and above, with some projects even offering homes as big as 7,000 sq ft.

A senior real estate consultant warns that the situation may worsen.
“Unsold inventory will rise further with the latest auctions and new launches. Another 4,000 units are likely to enter the market, slowing sales even more,” he said, highlighting the growing glut in Hyderabad’s property segment.

In an attempt to offload stock, several developers have turned to drastic measures — from price cuts to innovative payment schemes. Some firms have engaged aggressive channel partners, while others are offering deep discounts under the table.

When a TOI reporter approached a broker posing as a buyer, the agent offered a Neopolis unit for ₹6,500 per sq ft, nearly 50% lower than the official selling price of ₹11,000–₹12,000 per sq ft. He even agreed to negotiate further, settling at ₹6,300 per sq ft, provided the buyer makes a 35%–40% upfront payment. The project, he claimed, would be completed by 2030.

Such promotional flyers are circulating widely on social media — usually without naming the project. Some known builders have even held direct meetings with channel partners to boost sales.

While challenges loom, a few developers remain optimistic. Bengaluru-based Prestige Group, whose units average below 3,000 sq ft, says it has already sold 70% of its inventory. Credai Hyderabad echoes the sentiment.

“Sales have stabilised, not slowed. This is the right time to invest in Neopolis — buyers should just stick to credible developers,” said N Jaideep Reddy, President, Credai-Hyderabad.