Hyderabad vs Bengaluru, What Makes For The Best Bet?
Hyderabad and Bengaluru- both of these cities have too much in common but have a distinct feature that makes them completely different, their property markets. On one hand, where Hyderabad offers real estate at affordable prices, Bengaluru is one of the hottest real estate destinations, owing to rapid commercial development. So which one should you prefer more for making a smart investment? Here is the snapshot-
After Telangana state was formed, the unrest in Hyderabad came to an end. However, the real estate market took a little long to bloom. There were only a few builders active in the market as there was too much of uncertainty about the future prospects as Andhra was also promising an equally competitive destination with similar investment climate. However, as the time passed, Hyderabad realty regained its lost sheen, the sentiments improved. The existing inventory in Hyderabad might not be as vibrant as Bengaluru, but is affordable and have all prominent developers coming up with projects. More than the reputed ones, the local ones with a good brand name are being preferred in the city. Bengaluru has a more sober look than Hyderabad as the majority of the residents in the city are migrants or expats and locals have little role to play in setting up the overall culture here. The city is witnessing realty propulsion, thanks to commercial development. India’s leading names have entered the market with their signature projects in multiple budget range.
Nature of Project
Interestingly, Hyderabad and Bengaluru are only two cities right now that are witnessing positive price movement in India. Since housing demand is directly proportional to job generation potential of the city, both of these IT cities are riding on IT and startup bandwagons. Although the rising pressure over existing infrastructure has made the situation challenging for Bengaluru, the radial expansion of the city limits has given some relief to the investors who intend to make a purchase only for capital appreciation by investing in soft launch or under construction projects.
For Hyderabad, metro rail has been one of the longest impending infrastructures of recent times. The speculations have miffed the actual buyers, especially those who invested in the market sensing the future price rise and rise in rental demand. While March 2017 is the new date given for the Metro trial, once operational, the city statistics are bound to change.
Price Growth (Past 45 Months)
17.3% (Rs 4,400 per sq ft in Apr’13 to Rs 4,900 per sq ft in Dec’16)
19% (Rs 3,300 per sq ft in Apr’13 to Rs 4,000 per sq ft in Dec’16)
Most Demanded Locality
Whitefield, KR Puram, Thanisandra Main Road
Nanakramguda, Hitech City, Kokapet
Average Budget for 1BHK
Rs 23 lakh onwards
Rs 32 lakh onwards
Average Budget for 2BHK
Rs 39 lakh onwards
Rs 51 lakh onwards
Average Budget for 3BHK
Rs 60 lakh onwards
Rs 92 lakh onwards
While these two cities might stand independent of each other, the type of commercial development has been quite similar which makes Hyderabad affordable alternative of Bengaluru. However, the kind of environ that the latter offers is a mixture of many cultures and demography and Hyderabad would take years to adopt such a climate.
Also read: Is Hyderabad The New Bengaluru?