An Investor's Guide To Hyderabad's Hitec City
Hitec City in Hyderabad is a coveted property market with residential housing becoming desirable because of the presence of a stable infrastructure for day-to-day activities. Jobs, schools, commercial spaces, hospitals – have come up close to Hitec City. Top IT firms call Hitec City their home today. Thanks to the multitude employed here, insurance companies, investors, cafes and lounges etc have thrived.
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What do you think property rates here are like? Read on:
Prices and availability
Over 75 projects are up for grabs in Hitec City as per data available with PropTiger.com. Prices are in the range of Rs 47 lakh-Rs 6.25 crore. Largely, apartments dominate the market, but, if you are looking for independent houses, be ready to spend in crores.
On an average, 2BHK units will cost you Rs 64 lakh while for 3BHK units be prepared to reserve Rs 95 lakh and Rs 2.57 crore or more for 4BHK units. These are just average prices and may vary depending on where you are investing, how spacious the house is, the brand of the developer and the amenities.
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Price trend
Average capital values have been rising slowly. In 2013, price stood at Rs 4,200 per sqft. By 2017, it had climbed to Rs 4,780 per sqft. Note that this has been a prolonged period of turmoil- political uncertainty of the past, real estate slump, change in the central government. Thus, prices failed to rise drastically given the unfavourable sentiments.
Rental market
While home buying is a tough decision, the rental market has always been vibrant even when the market was in a lull. Thanks to the numerous workplaces here and around, putting your home on rent is not a problem at all. Rents for 1BHK units starts from Rs 7,500 per month. If you are a seasoned investor, you would know that spacious 2BHK and 3BHK units can help you make as much as Rs 8,000-80,000 per month based on the amenities you would be providing for the tenant. Gated communities are the preferred pick of data with Makaan.com show that if you are leasing lavish villas, the rental values varies between Rs 80,000 to Rs 1.50 lakh per month. These are usually 3BHK or 4BHK villas with space above 3,500 sq ft. Check these out here. Such homes also make for corporate leasing given its location and amenities.
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