Hyderabad's surging property prices pose challenges for homebuyers

26 Dec 2023 CW Team

Acquiring a pre-owned apartment has become a formidable challenge for the general public, mirroring the difficulty of purchasing a new residence in Hyderabad.

In the aftermath of the pandemic, the prices of second-hand homes have surged, nearly reaching the levels of newly constructed apartments before the onset of Covid-19. Whether in the west at Gachibowli, the east at Uppal, the south at Bandlaguda, or the north at Kompally, obtaining a used flat for less than 50 lakh has become exceedingly challenging for prospective buyers. Along the IT corridor, a decade-old 2BHK commands a rate of 7,000 per square foot, while 3BHKs are available at 9,000 per square foot.

Karthik Verma, a tech professional residing in a rented house in Lingampally, shared his disappointment, ?After returning to Hyderabad post work-from-home, I wanted to have my own house. So, I started searching for an old flat in Madhapur and Hi-Tec City areas around 50 lakh. However, I was disappointed by looking at prices of used flats which are available for more than 60 lakh.?

P Jaya, a private employee in SR Nagar, had planned to opt for a second-hand home priced between 30 lakh and 40 lakh, as new flats exceeded 70 lakh. However, she expressed surprise at owners quoting 50 lakh to 60 lakh for 10-year-old 2 BHKs after a month-long search in areas like Ameerpet, Sanathnagar, Moosapet, and Kukatpally.

Developers emphasise the robust demand for flats as assets and long-term investments. A city-based developer remarked, ?Usually, the life of a flat is above 50 years and the cost will be 75 to 80% on newer ones. Those who cannot afford new apartments are going for such flats.?

A survey by a private property sale and purchase app reveals that renovating a house before selling can fetch a higher price, witnessing a 10% increase from the previous year. This includes interior renovation, home painting, and cleaning, all bundled together. In Hyderabad, 55% of sellers have raised property prices in the last 3-6 months.

N Praveen, president of the Telangana realtors association, noted, ?People who had invested in apartments 10 years back are seeing good returns now for the resale. A decade back, people had invested 3,000 per square feet, and if they sell them now, they could get anywhere between 5,000 and 6,000 per square feet.?

Acquiring a pre-owned apartment has become a formidable challenge for the general public, mirroring the difficulty of purchasing a new residence in Hyderabad. In the aftermath of the pandemic, the prices of second-hand homes have surged, nearly reaching the levels of newly constructed apartments before the onset of Covid-19. Whether in the west at Gachibowli, the east at Uppal, the south at Bandlaguda, or the north at Kompally, obtaining a used flat for less than 50 lakh has become exceedingly challenging for prospective buyers. Along the IT corridor, a decade-old 2BHK commands a rate of 7,000 per square foot, while 3BHKs are available at 9,000 per square foot. Karthik Verma, a tech professional residing in a rented house in Lingampally, shared his disappointment, ?After returning to Hyderabad post work-from-home, I wanted to have my own house. So, I started searching for an old flat in Madhapur and Hi-Tec City areas around 50 lakh. However, I was disappointed by looking at prices of used flats which are available for more than 60 lakh.? P Jaya, a private employee in SR Nagar, had planned to opt for a second-hand home priced between 30 lakh and 40 lakh, as new flats exceeded 70 lakh. However, she expressed surprise at owners quoting 50 lakh to 60 lakh for 10-year-old 2 BHKs after a month-long search in areas like Ameerpet, Sanathnagar, Moosapet, and Kukatpally. Developers emphasise the robust demand for flats as assets and long-term investments. A city-based developer remarked, ?Usually, the life of a flat is above 50 years and the cost will be 75 to 80% on newer ones. Those who cannot afford new apartments are going for such flats.? A survey by a private property sale and purchase app reveals that renovating a house before selling can fetch a higher price, witnessing a 10% increase from the previous year. This includes interior renovation, home painting, and cleaning, all bundled together. In Hyderabad, 55% of sellers have raised property prices in the last 3-6 months. N Praveen, president of the Telangana realtors association, noted, ?People who had invested in apartments 10 years back are seeing good returns now for the resale. A decade back, people had invested 3,000 per square feet, and if they sell them now, they could get anywhere between 5,000 and 6,000 per square feet.?

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..