Hyderabad: A Market For Luxury Properties

While the entire country is welcoming the emerging trend of affordable housing, it might seem like there are no takers for luxury and ultra-luxury homes. However, that is not true. Owing to India's economic growth and rising number of HNIs, the premium housing segment in the country, has become a dynamic segment of the Indian realty market.

In India, homes are usually classified as luxury, based on their size. So, a 3 or 4-BHK apartment or a duplex villa becomes the first choice for luxury property-buyers. Giving close competition to established markets of high-end properties like Gurgaon, Mumbai, Ahmedabad, Kolkata and Bengaluru, Hyderabad is proving to be yet another preferred hub for high-end living.

PropGuide brings you a detailed view of the luxury housing market in Hyderabad.

Where would you find luxury homes in Hyderabad?

The established markets have recently recorded good inventory levels for high-end homes. They cover areas like Gachibowli (Rs 10,175 per sq ft), Manikonda (Rs 7,807 per sq ft), Kompalli (Rs 5,151 per sq ft), Narsingi ORR West (approximately Rs 9,308 per sq ft), APPA Junction (Rs 7,476 per sq ft) and Kondapur (Rs 13,830 per sq ft).

The localities which witnessed new launches of villas, include Shankapalli (average price Rs 3,187 per sq ft), Kothur (1,700 per sq ft), Bhanur (Rs 3,300 per sq ft) and Balapur (approximately Rs 2,013 per sq ft). Villas in these localities meet every criterion of premium housing, encompassing branded fixtures, serene environs, social amenities as well as good connectivity to other parts of the city.

What drives luxury housing in Hyderabad?

The luxury segment in Hyderabad accounts for approximately 15 per cent of the city's real estate market. The overall market here is comparatively cheaper as compared to other markets of south India, like Bengaluru and Chennai. A balanced demand and supply ratio has been a crucial factor, leading to an upsurge in property prices. Thus, the property market in the metropolis has attracted not just local buyers but the business class, as well as migrant IT professionals. Besides, regular HNIs and NRI investors have helped in sustaining the popularity of high-end properties in Hyderabad. Sound capital appreciation in this asset class is expected.

Must Read: Is Hyderabad The New Bengaluru?