Home prices in Hyderabad likely to rise 4% this year
Home prices in Hyderabad grew by over 5% in 2015 and are predicated to rise by 4% in the current year, JLL India said in a research note.
"The city’s residential market witnessed a price appreciation of 5.2% (year-on-year) in 2015 and is expected to see a 4% price rise in 2016," Anuj Puri, Chairman and Country Head, JLL India said.
A well-known IT hub, Hyderabad has been witnessing a strong demand for office space for some years now, which has led to an increase in demand for homes in the city that also grew over the years, barring the period of political turmoil.
Its western suburbs contributed the maximum share to total launches and sales' movement in the city in 2015.
At the sub-market level, the city's western suburbs namely HITEC City, Kukatpallay, among others saw the highest appreciation at 15.4% in 2015. Its both northern suburbs (Bachupally, Shamirpet, etc.,) and eastern suburbs (Uppal, LP Nagar, etc.,) witnessed a growth of 4.7% last year.
"Both developers and buyers are highly bullish on the western sub-market, which is the major driver behind Hyderabad’s residential demand-supply dynamics," Puri said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
02:52 PM IST