Hyderabad, the city of Pearls, has been one of the major hubs for IT/ITeS industry, and has observed massive growth in this sector over the past decade. The city has the capacity to create jobs which in turn increases the demand for housing. However, the city is observing more real estate activities as the areas have the benefit of being strategically located near IT corridors, good connectivity and availability of space at affordable prices, are the key features that are attracting developers to construct new projects under residential, commercial and retail.
Some of the upscale localities that offer apartments in price range of 2 crore to 4 crore are Jubilee Hills, Banjara Hills, Begumpet, Gachibowli and Madhapur. Jubilee Hills is an uptown neighbourhood in west Hyderabad. It is considered to be the most expensive residential locations in India with premium land prices fetching up to nearly 200,000 per square yard. An average flat in Hyderabad’s Jubilee Hills locality will costs around 7100 to 7300 per square feet for 2900 to 3100 unit per square feet. Similarly, Banjara Hills in Hyderabad is a suburban residential locality and is nearby to Jubilee Hills. Average flats in Banjara Hills cost around 8300 to 8500 per square feet for 2500 to 2800 unit a square feet.