Developers drop prices by Rs9 lakh in Hyderabad

With falling prices and depressed demand for residential properties, many developers are offering huge discounts for ready possession properties in and around Hyderabad

Real-estate prices are currently very attractive in Hyderabad. Developers in this city are finding it difficult to sell their ready possession properties due to fall in demand. To overcome the lower demand and falling prices, some developers are offering huge discounts of up to Rs8 lakh-Rs9 lakh.

“A flat costing about Rs35 lakh earlier is now being offered for as low as Rs26 lakh. Realty sales in Hyderabad are falling every quarter. The September quarter witnessed lower sales compared to the June quarter,” said Pankaj Kapoor, founder and managing director, Liases Foras Real Estate Rating and Research.

During the quarter to end-September, total sales of two bedroom, hall and kitchen (BHK) properties at Hyderabad fell sharply. Places like Secunderabad, Nizampet and Manikonda are hot locations for residential properties and developers from these locations are offering discounts of up to Rs8 lakh-Rs9 lakh.

Hyderabad-based Aparna Constructions and Estates Pvt Ltd is offering a 2BHK apartment of 935 sq ft at just Rs963 per sq ft at Kompally in Secunderabad, till March 2010, against the usual rate of Rs2,100 per sq ft.

Hyderabad has a supply of 60 million sq ft of residential projects, out of which 15%-18% are completed constructions.
 

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Developers drop prices by Rs9 lakh in Hyderabad

With falling prices and depressed demand for residential properties, many developers are offering huge discounts for ready possession properties in and around Hyderabad

Real-estate prices are currently very attractive in Hyderabad.

Developers in this city are finding it difficult to sell their ready possession properties due to fall in demand. To overcome the lower demand and falling prices, some developers are offering huge discounts of up to Rs8 lakh-Rs9 lakh.

“A flat costing about Rs35 lakh earlier is now being offered for as low as Rs26 lakh. Realty sales in Hyderabad are falling every quarter. The September quarter witnessed lower sales compared to the June quarter,” said Pankaj Kapoor, founder and managing director, Liases Foras Real Estate Rating and Research.

During the quarter to end-September, total sales of two bedroom, hall and kitchen (BHK) properties at Hyderabad fell sharply. Places like Secunderabad, Nizampet and Manikonda are hot locations for residential properties and developers from these locations are offering discounts of up to Rs8 lakh-Rs9 lakh.

Hyderabad-based Aparna Constructions and Estates Pvt Ltd is offering a 2BHK apartment of 935 sq ft at just Rs963 per sq ft at Kompally in Secunderabad, till March 2010, against the usual rate of Rs2,100 per sq ft.

However,according to an e-mail from Sivaram Nalluri, assistant general manager for marketing, Aparna Constructions they have been receiving a lot of inquiries and said the proposed price for the property at Kompally, Secunderabad is Rs1,500/- per sq ft for a 935 sqft 2BHK apartment. 

Hyderabad has a supply of 60 million sq ft of residential projects, out of which 15%-18% are completed constructions.
 

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COMMENTS

SIVARAM NALLURI

7 years ago

The launch price for APARNA KANOPY has always been 1500 per sqft and not 963 Rs per Sqft as it is being published in many websites. Please bear in mind that APARNA Constructions will not be held responsible for the above issue. Please call Mr. Murali Krishna @ 9666680591 for more information.

Thanks,
Sivaram Nalluri

SIVARAM NALLURI

7 years ago

This is Sivaram Nalluri, Asst Manager(Mktg), Aparna Constructions, Hyderabad. This is to inform that the price for 935sqft at KOMPALLY, Sec'bad is not 963Rs as shown on many websites but 1500rs per Sqft. Please call 9666680591 for more queries.

Saurabh

7 years ago

I just inquired with Aparna Constructions and Estates Pvt Ltd. The price psft is not 963 as mentioned in the article, they tell me its 1400 psft.

Than,
Saurabh

Hyderabad real estate

7 years ago

The telangana factor is more effected for the slowdown of the property rates may be it will continued up to the saperation of the state

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An oil-based economy doesn't need to deplete its entire reserve of oil before it begins to collapse. A shortfall between demand and supply as little as 10%-15% is enough to wholly shatter an oil-dependent economy and reduce its citizenry to poverty.

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