Land prices on the rise in Hyderabad markets

Hyderabad: Land prices in several micro markets in Hyderabad have registered a steady upswing in the last two years or so, according to Anarock Property Consultants.

Average plot prices in Medchal, Adibatla and Ghatkesarareas near Hyderabad saw 21 per cent, 24 per cent and 26 per cent growth respectively between the years 2019 and 2022, it explained.

Plotted developments have gained significant traction as an investment asset class in the post-pandemic world. Since 2020, several large and listed developers have been offering plots, leading to growth in demand and prices across major micro markets in the top cities, it added.

Besides Hyderabad

Anarock data showed that besides Hyderabad, other top six cities such as Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Mumbai, and Delhi, witnessed new plotted developments supply since 2020 and saw decent appreciation over the last 2.5 years.

Santhosh Kumar, Vice Chairman,AnarockGroup, said "Plots have become a hot ticket for property investors on the post-pandemic marketplace. Undoubtedly, well-chosen land offers higher returns on investment when compared to apartments. Average plots prices across India's major cities, and especially in NCR, rose considerably over the last two-and-half years."

Out of the multiple micro markets across top seven cities, the top three areas that saw maximum appreciation are all in Delhi - Yamuna Expressway which witnessed the highest rise of 38 per cent in average plot prices – from Rs 1,600/sft in 2019 to Rs 2,200/sft by H1 2022-end, Greater Noida (West) (36 per cent)and Neharpar in Faridabad (29 per cent).