Hyderabad Real Estate: Is It Going Up Or Down?

Over the last few months, there have been several projected reports about how the real estate market in Hyderabad has been rather shaky. But the latest developments are suggesting that the real estate market is pretty consolidated, and there is still a lot of demand.

This is to be understood if you look at the latest auction that was held for the Kukatpally housing Board lands in the city. These lands were sold for hefty prices in the auction as Godrej Properties secured the deal for a huge price.

On Wednesday, the Telangana Housing Board auctioned the land transparently through an online e-auction. Godrej Properties emerged successful, acquiring the land at a record rate of ₹70 crore per acre, totaling ₹547 crore for the 7.8 acres.

The minimum price was fixed at ₹40 crore per acre, and bidders raised the amount 46 times during the three-and-a-half-hour process, with Godrej offering the highest bid of ₹70 crore per acre. It was also added that the government has decided to use this revenue for housing schemes benefiting the poor and middle-class sections.

This is now going to be one of the significant upward sprawl projections in the Hyderabad real estate ecosystem and could be an indication of the fact that the market is still pretty solid with substantial interest from top companies.