Hyderabad: Land prices in Hyderabad have surged up to 59 percent over the past three years, driven by a growing preference for purchasing land over renting.
In HITECH City, capital values surged by 59 percent, while rental values grew by 46 percent from the end of 2021 to the first half of 2024. Gachibowli has seen even more significant growth, with capital values climbing by 70 percent with rental values increasing by 50 percent, according to data from ANAROCK Research.
In Hyderabad’s real estate market, HITECH City has seen a sharp increase in average monthly rents, rising from Rs 23,000 in 2021 to Rs 33,500 in 2024. Capital values have surged from Rs 5,800 per sq ft to Rs 9,200. Similarly, in Gachibowli, average rents have climbed from Rs 22,000 to Rs 33,000, while property prices have jumped from Rs 5,010 per sq ft to Rs 8,500. This significant growth underscores the growing demand and investment in these key areas.
Hyderabad: Office space leasing sees 71 pc growth in six months
In contrast to Hyderabad, cities like Bengaluru’s Sarjapur Road have seen a 67 percent rise in rental values and a 54 percent increase in land prices. Similarly, Pune’s Hinjewadi has witnessed a 52 percent jump in rental values, but capital values have only risen by 31 percent.
Regional director and head of research, ANAROCK Group, Dr Prashant Thakur stated, “Analysis of key micro-markets across the top 7 cities shows that in Bengaluru, Pune, Kolkata, and Chennai, average residential rental values increased more than capital values between the end of 2021 and H1 2024. However, in regions like NCR, MMR, and Hyderabad, the trend was reversed, with capital values appreciating more than rental values.”