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.?

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Infrastructure Urban

19 Sep 2025

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Infrastructure Energy

19 Sep 2025

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..