Hyderabad Housing Market: A Skyrocketing Phenomenon
Real estate isn't merely a place to live; it's a strategic investment.
By: Tupaki Desk | 24 Sep 2024 7:11 AM GMTReal estate isn't merely a place to live; it's a strategic investment. This is evident in the growing trend of people considering real estate as a retirement plan, with many calculating potential returns over decades.
The demand for properties that appreciate in value is on the rise. While house prices can fluctuate based on local market conditions, Hyderabad has witnessed a significant surge in recent years. Following the formation of Telangana, property prices tripled within a five-year span, with villas and houses once priced at ₹40 lakhs now commanding over ₹1.5 crores.
Realty experts predict continued growth in the real estate market, despite potential short-term fluctuations. In the financial year 2022-23, house and plot prices in Hyderabad increased by 8-12%, depending on the location. Assuming an annual increase of 5%, property prices could rise by 50% in ten years, and even higher if the growth rate is closer to 15%. This means a ₹1 crore house today could be worth ₹3 crores in a decade.
For those seeking to own their homes, investing sooner rather than later is generally advisable. However, it's crucial to carefully plan finances and consider factors like loan repayments before making a purchase. By understanding the potential returns and risks, individuals can make informed decisions about their real estate investments.