Buying a house has become a challenge for the middle class in many cities, and real estate prices have risen sharply in Hyderabad due to the growth of IT and pharmaceutical companies near residential areas. This has resulted in increasing demand for housing, and the city has become the second most expensive residential market in India, after Mumbai.
A property’s price relies on multiple factors such as location, neighbourhood, quality of construction, amenities and the age of the building. Below are some of the factors worth considering.
Infrastructure
It helps to invest in a house close to basic facilities such as schools, colleges, hospitals, metros, multiplexes and malls. Areas like Patancheru offer strong infrastructure with desirable amenities nearby.
Affordability
Real estate prices in Hyderabad are rising, but they remain comparatively affordable against other states when weighed against the infrastructure and amenities on offer.
Air Quality
Looking for greenery nearby helps keep the environment fresh and healthy. Hyderabad’s forests and lakes help keep the air clean, reducing health problems associated with poor air quality.
Connectivity
Properties in Hyderabad are usually built close to metro stations or public transport facilities, so evaluating transportation availability and distance from the main road is an important factor.
Distance Between Office and Home
Even with work-from-home more common since the pandemic, the distance between office and home remains an important factor to weigh before purchasing a house.
Financing Options
Most residential properties are financed by banks, which disburse home loans with minimal documentation for eligible customers, while government tax deductions encourage buyers to take bank loans.
Areas such as Manikonda, Kukatpally and Miyapur offer relatively low-budget properties, while Nanakramguda, Madhapur and Gopanpally are popular for their proximity to multiplexes, malls and parks.