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Hyderabad News.Land Rate in Hyderabad hits sky high levels - Apartments and Villas set to become even more costlier


(Excl Ventures News.)The land rates was on a continuous uptrend all around Hyderabad, in 2018. There was expectation that the recent state election will dampen demand, with the money bags "saving money for election purposes (sic)"

But after the election, land prices are continuing to climb with no let up seen, in the medium term.

Looks like investors are parking money in Acres, for short Term and rolling over, to the next buyer.

In areas surrounding Hitech City and Gachibowli, rates have gone up to Rs.25 to 30 Crore, per acre.
In 2013-14, the quiet Tellapur suburb didn''t have buyers even for 1.8 to 2Cr, per acre. Now in that locality, land rates are above 10Cr, per acre.

Obviously, such land rates will have big impact, on rates of constructed area (commercial as well as residential).

Gated Community Apartment rates in and around Hitech City / Gachibowli which averages Rs.6000/sft is likely to start quoting even higher, once developers take up projects, in newly acquired land parcels.

Recently, a developer has announced HMDA plot layout facing ORR at Kollur, at a stunning rate of Rs.42,500/sqd.

Villa prices around Hitech City and Gachibowli ranges from Rs.3.5Cr to 7 Cr depending on location.

The middle class, including mid level software engineers working in Hitech City / Gachibowli will have to go at least 20 to 30 Km, to be able to buy a plot and build a house.

In effect, the vast majority of people will now have be content with an affordable flat (gated communities being totally out of reach) 10 to 15 Km away from Hitech City, or buy plots much further away.

The land rates in 360 degrees, up to the inner side of ORR are extremely hot. And with the Regional Ring Road now sanctioned, prices will start going up sharply, for the land, in-between ORR and ORR.

The days when a villa could be booked for under Rs.75 Lakhs, within 10Km of Madhapur or Gachibowli, now looks like a distant dream!
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Keyword Tags Hyderabad News,Hitech City, Gachibowli, Hyderabad Real Estate

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