Land & Appt prices in Hyderabad (Out of control)

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[webhyd]

Builder are crazy in Hyderabad. They charge you rs.4500/- per SFT in begumpet, For two level security, and super deluxe specification. Though the general price is around rs.3100/- per SFT. Have you seen the traffic in front of life style. It's a bottle neck. You invest 70 to 80 Lacs for a small 3 BHK flat in a city where you need to spend 40 minutes to travel 4km.

Alien's Space station-1 in telapur. Previously the price was 2400/- per SFT now they are quoting 3500/- (I heard they offer lots of discount if you can bargain). Just visit their site (looks like it's in a village). Also the size of land! It seems the space station is over populated. The market situation hasn't been changed but they are trying to promote their project.

Raintree park near cyber tower: The price hasn't been increased in last 6 months. It's ranges from 2800/- to 3200/-. The construing quality is not so good. You can see lots of defect. They are inspecting and repairing the stuffs.

Project from NALCO. I think it's Nalco hills. They sold appt at a price of rs.4500/- per SFT. Hyderabad Income tax commissioner, are you efficient enough to catch the people holding black money?

Govt doesn't have any control over the land and appt prices. IT people are coming to Hyderabad but they must look for some other city to settle down as the prices are out of reach.

[naveen41]

Owning a flat in hyd  has become a dream now.

[webhyd]

5 years back it was a cool city. Now lots of jam, water problem, price hike in flat and land...lots of issues. But for IT people who are coming to this city they need to find a house. Rental value has been increasing a lot. There is no control over the rental value. In white field one flat owner was expecting 30k per month but the best offer he got was 18K. People need to bargain. The brokers and the new comer to this city have been supporting these greedy owners.

People start thinking of buying house when they find they need to pay at least 10k per month for a 2BHK house. Instead they can opt for buying a house. You need at least 40 lacs to buy a 2BHK flat.

Is this the best time to buy a house in Hyderabad?
If you are earning less than 70k per month then don't buy a house in Hyderabad. Try to settle down in some other city where the prices are still lower. You can opt to buy a 1000 sft flat at a price of 40 lacs but you need to spend 40k per month for the house. Instead you can pay 10k to live in a rented appt. The price hasn't increased at all in last 6 months. For a 40 lacs loan you would be spending a lot in interest. Is this possible to get the amount back in next few years? Instead you can invest this amount in mutual fund. This about all the calculation and decide.

Latest update about appt prices.
In Nizamper areas builders are quoting 3000/- per SFT but at the same time they are offering a discounted price of 2700/- per SFT. In few months back the price in Nizampet was around 2300/- per SFT. Please bargain.

Aliens Elite in miyapur. Now they are quoting 3000/- per SFT. Few months back the price was 2900/- per sft and a broker was offering a discounted price of 2729/- per SFT.

SMR Vinay in Miyapur is quoting 3000/- per SFT and asking to come down so they can offer some discount.

Lets calculate what should be the price in miyapur?
Land price is 30000/- per Sq yrd. If you buy in Aliens Elite then for a 1220 SFt flat you get a land share of 30 SQ yards. Price of the land = 30 X 30000/- = 9 lacs. Construction cost of 1220/- Sft house would be 1220 X 800/- per SFT = Max 10 Lacs. So total price is = 19 lacs. If you pay 2900/- per sft the basic price of the flat would be 35.5 lacs. So they are charging double the price. Basically they are charging for the ad that they display in major news paper.

[webhyd]

From Sunday DC, I found flats are available at Miyapur at a price of 2500/- per SFT Negotiable. Modi builder offering 1850/- per SFT for their flat near Kukatpalli which would be around 15Km from cyber tower.

[naveen41]

Some correction seems to be happing now due to limited demand.

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