Hyderabad’s premium real estate offers promising options
Hyderabad : These are strange times for the premium real estate market of Hyderabad. This particular segment is somewhere faring well while at other places there are no two ways about the fall in demand and property prices. If you are planning on making a high budget investment right now, it is imperative to know the market really well.
Before venturing further into detailing the segment, we should let you know that we have considered properties worth more than 6,000 per sq ft as the premium segment.
Current state of affairs
As of now, the real estate market is a mixed bag of affairs. As per the India Apartment Index for Oct’-Dec’ 2015, by a real estate portal, the premier budget segment of 6,000 per sq ft & above remained stagnant as the previous quarter. This is in line with the general market trend where the premium segment has seen price and transaction stagnation.
What is the price change?
The quoted change in budget price is very nominal. The price increase which was recorded in the last quarter was 0.03 percent to be particular. However, this does not mean that all localities in the city, housing premium units witnessed the price increase, however meagre it may be. Localities such as Banjara Hills saw a decline, while others such as Jubilee Hills saw an equal appreciation. The impact was a stagnant budget segment.
Both these localities belong to the popular list of areas preferred by consumers. Banjara Hills accounts for -6 percent price fall while Jubilee Hills accounted for 7 percent increase. Thus, balancing the equilibrium.
The given image represents the price change of the premium as well as the other priced segments. You will notice that unlike the 6,000 per sq ft & above band, others witnessed a comparatively significant jump in property prices.
Availability in the market
Premium properties are scattered in some prominent localities of the city. Though the lower priced house segments are dominant in the market, the premium class also contributes to the residential inventory of the city.
The premium segment covers about 6.1 percent of the housing stock in the market followed closely by 9.9 percent of the 5,000-6,000 per sq ft segment. The lower budget segment of 2,000-4,000 per sq ft cumulatively accounts for 64.5 percent properties in the city.
Names of localities providing premium houses
Where can you find these premium houses? We have made a list of the names of localities with their capital values and the price change noted on a quarter-to-quarter basis.
To further help you in short listing houses, we have brought you the configurations and their price and size ranges in the mentioned localities. We have taken into consideration only the most featured configuration and property type currently available as per Magicbricks data.
The most common property types available in Banjara Hills are apartments, followed by builder floors. The common configurations are 3 and 4BHK units. The size range of 3BHK units is 1,600-3,050 sq ft and properties begin from 75 lakh.
The most common property types available in Film Nagar are apartments, followed by houses and builder floors. The most common configuration is 3BHK units. The size range of these is 1,368-3,537 sq ft and properties begin from 55 lakh.
Necklace Road houses most Necklace Road houses mostly apartments and builder floors. The size range and the budget of the 3BHK units which are readily available is 1,387-2,620 sq ft, priced at 49 lakh onwards.
And finally, Jubilee Hills offers apartments, houses and villas, respectively, as per availability. The most common configuration is 3BHK units which are sized 1,380-2,545 sq ft and priced at 55 lakh onwards.
Real estate investment is expensive and there are no shortcuts to it. There are certain rules to be followed and certain information to be asked. If still unsure, then consult a property expert as ultimately, it is your money that is up for investment.
Source : TOI