Land prices increase in Hyderabad
Hyderabad- As real estate sector is growing in Hyderabad, more developers are interested to invest in land for development. Land owners taking advantage of the situation are not allowing the developers to bargain thus the price of lands are soaring high. Following chart shows the increase in land price in few areas.
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Area
Old land price (per sq yd)
New land price (per sq yd)
Banjara Hills
Rs 50,000 – Rs 65,000
Rs 85,000 – Rs 90,000
Jubilee hills
Rs 50,000 – Rs 65,000
Rs 85,000 – Rs 90,000
Kompally
Rs 16,000 – Rs 23,000
Rs 35,000 – Rs 38,000
Apartment prices in and around Kompally have raised from Rs 1700 per sq ft to Rs 2200 per sq ft. There was a time when land owners in Hyderabad negotiated with the developers but now the scenario has entirely changed. They have become more rigid with developers entering in the growing market.
Along with growth of real estate in Hyderabad, land prices in the area like Shamirpet, a suburb in Rangareddi district on the northern outskirts of Hyderabad, also home to the Genome valley and other educational institutions have doubled from Rs 80 lakh per acre to Rs 120 lakh per acre. It is assumed that local investors who invested here in downturn are reaping rich dividends.
Some other investors who invested in ongoing projects at negotiated prices are now planning to sell the projects according to the changes and prevailing market prices. They are just waiting for the correct time to derive maximum gain in the bargain.
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