Property Prices at Their Lowest in South Hyderabad, Driving Increased Demand for Plots

Residential plots are attracting greater interest from potential buyers, with at least 20 percent of property seekers showing a preference for investing in them.The real estate market in Hyderabad is currently experiencing the lowest property prices in the southern regions of the city, accompanied by a growing demand for plots.

According to the Homebuyer Sentiment Survey – H1 2024, the average budget for 2BHK flats in South Hyderabad ranges from Rs 45 lakh to 55 lakh, with an average square foot rate of Rs 5,720.

In contrast, property prices are highest in central Hyderabad, where the average budget for 2BHK flats falls between Rs 1 crore and 1.5 crore, with an average square foot rate of Rs 9,450.

Below are the average budget ranges for 2BHK flats across various zones:

Central Hyderabad 1 cr – 1.5 cr (average budget range for 2 BHK)

Average rate per sqft- 9,450

East Hyderabad 55 lakh – 70 lakh (average budget range for 2 BHK)

Average rate per sqft- 5,850

North Hyderabad 55 lakh – 65 lakh (average budget range for 2 BHK)

Average rate per sqft- 5,945

South Hyderabad 45 lakh – 55 lakh (average budget range for 2 BHK)

Average rate per sqft- 5,720

West Hyderabad 65 lakh – 90 lakh (average budget range for 2 BHK)

Average rate per sqft- 7,765

According to the GHMC, the neighbourhoods of Malakpet, Santoshnagar, Chandrayangutta, Charminar, Falaknuma, and Rajendra Nagar fall within the South Zone of Hyderabad.

The report also notes that demand for 3BHK units is the highest in Hyderabad. This trend mirrors a nationwide shift, as larger homes have increasingly become the preferred choice for buyers since the pandemic.

Additionally, when comparing the findings of this survey to those from two years ago (H1 2022), interest in 3BHK units has surged from approximately 41 per cent to nearly 51 percent by H1 2024.

Demand for plots rises in Hyderabad:

The report indicates a growing interest in residential plots among prospective buyers, with at least 20 percent expressing a preference for this type of investment.

In Hyderabad, 27 percent of buyers favour residential plots, prompting several prominent developers to launch extensive residential plot projects.

Additionally, villas and row houses are gaining popularity in Hyderabad. However, apartments remain the preferred choice for most buyers.