Prices of 2 and 3 BHK properties have increased 9%, Prices of ready units up by 26%

Hyderabad is second pricey market among cities

PNS | Hyderabad

Hyderabad is second pricey market in the country with an average of Rs 9,266 per sft while Mumbai at Rs19,485 remains the highest. As per the CREDAI – Colliers – Liases Foras Housing Price-Tracker Report 2022, the prices are based on carpet area.

Housing prices across the top eight cities in India, Delhi-NCR, MMR, Kolkata, Pune, Hyderabad, Chennai, Bengaluru and Ahmedabad continue to head northwards at 6% YoY amidst robust housing demand and quality launches by top developers. Prices in Bengaluru and Pune are just about Rs 8,000 while, Delhi and Chennai are at Rs 7,000.

In Hyderabad, housing prices rose by 8% YoY. Overall prices in the city rose by 8% YoY. However, due to limited availability, prices of ready units in Hyderabad rose 26% YoY.  Prices of 2 and 3 BHK properties have increased by 9% YoY, while the prices of 1 and 4 BHK witnessed a dip in city.  

Only Hyderabad, MMR and Ahmedabad saw an increase in unsold inventory, led by significant new launches.Mr Harsh Vardhan Patodia, President of CREDAI National stated, “The real estate market across the country has witnessed a K-shaped recovery in terms of prices, the consumer sentiment has continued to stay robust as the pandemic reshaped the importance of owning a home rather than renting one.

With the festive period expected to continue till the end of this year, we can expect sales to be northbound and the number of unsold inventories to decline as well. While there has been a rise in housing prices in line with the global inflationary trends, the market can expect the prices to continue to rise owing to the robust demand. The industry has embarked towards solidity after a let-up due to the pandemic and should be able to stabilise in H1 of 2023″.

“After uncertainty in the past two years, 2022 has ushered in relative stability and recovery for the residential market across top eight cities. The rise in inflation and hike in input costs have put upward pressure on housing prices pan India. Several developers have launched projects and offered rebates during the festive period. While residential activities continue to remain strong, recessionary pressures may have an impact on the salaried class, who form a notable share in home-buying in the top Indian cities,” said Ramesh Nair, Chief Executive Officer, India and Managing Director, Market Development , Asia, Colliers.

“The aggregated sales of three-quarters of CY22 are 16% higher than the aggregate similar three quatres sales of CY 21. Despite increasing interest rates and marginal property prices, there is still a parity between the prices and affordability; sales volumes are likely to stay strong. The year 2022 is slated to pose highest-ever sales in the residential market in India, said Pankaj Kapoor, Managing Director, Liases Foras.”

Pan India residential prices Q3 2022 (in INR/sq ft) –

City Average Price Q3 2022 QoQ Change YoY Change
Ahmedabad 6,077 3% 11%
Bengaluru 8,035 2% 6%
Chennai 7,222 0% 0%
Hyderabad 9,266 -1% 8%
Kolkata 6,594 3% 12%
MMR 19,485 -1% 0%
NCR 7,741 2% 14%
Pune 8,013 4% 9%
Source: Liases Foras, Colliers
All the prices are based on carpet area in INR/sq ft