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Rental Insights: Hyderabad Q4-2015

Hyderabad, once home for the famous Kohinoor diamond, is a historic city, known for its monuments, rich heritage and culture. A juxtaposition of old and new, has offices of tech giants like google, Microsoft and many others in a district known as Cyberabad.

With the bifurcation of Andhra Pradesh, real estate in Andhra dipped drastically. But now, both Seemandra and Telangana are witnessing great demand and surge in real estate of Andhra, especially Hyderabad.

Find out some interesting facts about the real estate market of Hyderabad, which is driving positive sentiment among the developers and owners.

2 BHK in Hyderabad

 

Considered this developing city of India, young professionals moving into the city for jobs may shift the real estate prices higher in recent times. Currently with a city average price for ₹11,000 for 2 bhk's, the most demand localities comprise of Kondapur, Miyapur, Kukatpally, Gachibowli followed by Manikonda, Chanda Nagar amongst others.

With the booming IT industry, the price distribution across the top localities are in the upper of the price line with some posh localities like Gachibowli (median: ₹20,000) at almost double the city average rates. There is a lot of options in terms of mid and high priced properties to choose from in areas like Hi Tech city followed by Miyapur, Kukatpally, Gachibowli, Manikonda and Madhapur. Some of these areas have property rates way higher than city limits like Gachibowli (almost double rates), Madhapur (around 2.5 times the city value) and Hi Tech city (almost double rates). Looking from the mid range affordability standpoint, Miyapur, Manikonda , Chanda Nagar, Ameerpet are some of the regions where the property dispersion is around the city line with medians also close to it.

AreaArea Rent (median)City Rent (median)Area vs City% Listings above City Median Rent
Kondapur160001100045.5%100%
Miyapur12000110009.1%72%
Kukatpally130001100018.2%61%
Gachibowli200001100081.8%96%
Manikonda125001100013.6%54%
Chanda Nagar12000110009.1%53%
Madhapur2500011000127.3%100%
Hi Tech City202501100084.1%100%
Banjara Hills180001100063.6%100%
Ameerpet130001100018.2%67%

3 BHK in Hyderabad

 

For home seekers looking for 3 bhk apartments, majority of the demand occurs in regions like Gachibowli, Madhapur, Kondapur, Manikonda followed by Miyapur, Hi Tech city. Being some of the posh areas, there is huge spread in the property distribution in Gachibowli and Madhapur with properties as high as ₹90,000 though majority of spectrum lies between ₹20,000 and ₹40,000 across localities. For budget homes, the adequate localities to focus at should be Manikonda, Miyapur, Kukatpally, Gopanpally and Appa Junction among others with the city rental prices being around ₹22,000.

AreaArea Rent (median)City Rent (median)Area vs City% Listings above City Median Rent
Gachibowli300002200036.4%76%
Madhapur340002200054.5%88%
Kondapur250002200013.6%73%
Manikonda1600022000-27.3%35%
Miyapur1700022000-22.7%15%
Hi Tech City300002200036.4%83%
Kukatpally2000022000-9.1%37%
Gopanpally1500022000-31.8%0%
Jubilee Hills400002200081.8%100%
Appa Junction1700022000-22.7%0%

Ask any renter in Hyderabad and they’ll tell you that the rents are too damn high. Sadly, they aren’t exaggerating. Buying a home in Hyderabad is not cheap. Renting particularly in expensive neighborhoods that are close to a city center, is not cheap either. Affordable housing in both the for-sale and rental markets has become incredibly scarce in desirable neighborhoods in urban centers. So what’s a renter to do?

Is it time to implement rent control measures like New York and San Francisco cities?

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