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.
 

  • Like this story? Get our top stories by email.

    User

    Newsviewer   Exclusive
    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.
     

  • Like this story? Get our top stories by email.

    User

    COMMENTS

    SIVARAM NALLURI

    10 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

    10 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

    10 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

    10 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

    Life after the great oil crash

    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.

    Read Article…
     

  • Like this story? Get our top stories by email.

    User

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 3 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)
    FREE: Your Complete Family Record Book
    Keep all the Personal and Financial Details of You & Your Family. In One Place So That`s Its Easy for Anyone to Find Anytime
    We promise not to share your email id with anyone