Hiring Flats for Rent in Hyderabad Real Estate: How Much to Pay for a 2 BHK?

Andhra Pradesh's biggest part of GDP comes from Hyderabad, a city that ranks fifth in terms of its national contribution. City's realty market too has progressed well with a steady demand coming from both buyers and tenants. The city is frequented by a large number of expatriates, thanks to its well-established IT sector and excellent physical infrastructure. But as far as rental prices are concerned, the rates are lower if compared to other tier-1 cities of India. Let's see how the rental rates fare in Hyderabad across its different localities.

Consider flats for rent in Hyderabad, at Appaguda, Dammaiguda, Shannerpet, and Kothapet. The average rent in these areas for a 2 BHK ranges between 3k and 6k. Some of the other affordable regions in the city are A. S. Rao Nagar, Bularam, and Dilsukhnagar. We are talking about the stating prices here, The upper limit can reach up to 10-15k/month. At Miyapur, Nallakunta, D.D. Colony. Manikonda, Vidya Nagar, BandlaGuda, , Madhapur, Kukatpally, and Himayath Nagar, the rental range lies between 7-10k. These are, again, the starting rates.

Let’s us consider real estate Hyderabad in areas like Kondapur, D.D. Colony, Basheer Bagh, Nizampet, Tolichowki, Kamalapuri, Balanagar, a two-room rental house can cost a tenant anywhere between 11-15k, and even above. Jubilee Hills and Uppal Mandal have hefty rental rates: between 20k and 25k. At Bowanpally, the highest value can reach up to 35k, depending upon the exact location of the chosen property.

The deposit paid at the time of possession too varies from place to place. Generally, it is lower than in other metros. At Kondapur, the deposit can vary anywhere between 45k and 85k, while at Dilsukhnagar, it is around 6-7k only. Within the same locality, the deposit sum can vary widely. For example, at Bowanpally, the annual deposit can be 14k for a monthly rental of 7k, and around 2 lacs for a 35k property. At IT-driven colonies, it is generally higher than other lesser developed areas.

How does a 2 BHK House for Rent Fare in Localities of Hyderabad Real Estate?

The city of pearls, Hyderabad, is the highest contributor to GDP of Andhra Pradesh. Base to several global conglomerates which includes pharmaceutical companies and IT/ITeS firms, the city is a lucrative investment option. It is the multitude of employment opportunities that a good number o expatriates flock to this city every year. Rental houses cater to the residential requirements for these expatriates as well as for its own population. Living on a rental space is more affordable than buying a house of one's own. Lets; have a glimpse of rental properties are faring across its different localities.

Amidst all the muddle created by Telangana issue, Hyderabad real estate scenario did not show any significant improvement. In fact, as the consumer sentiments were largely on negative sides, the rate of rentals dropped in several prime localities of the city. In the last quarter of 2103, areas like Srinagar colony, Jubillee Hills, Madinaguda, S R Nagar, and Hi Tech City witnessed a Q-o-Q fall of 6-9% in rental rates. The fall was steeper for rental apartments in Somajiguda, Miyapur, and Nizampet.

As far as psf(per square feet ) rate for a house for rent in Hyderabad is concerned, S R Nagar, Manikonda, Attapur, Nizampet, and Miyapur have the average value zeroed to 8-10/ sft. The rates are more in high-end colonies like Jubille Hills, Kondapur, Somajiguda, Hi Tech City, Begumpet and Gachibowli. In these areas, the average psf rate is centered around 11-15/sft and above.

Let's now have a look at the monthly rentals that are prevalent across different localities of Hyderabad. The options, i.e. where a 2 BHK house on rent is available at modest prices are Ameerpet and Begumpet. A tenant can expect starting prices for two room apartments valued at 3-5k bracket. In higher segment, 5-8k, the available options for rental flats are Madinaguda, Kukatpally, Bowenpally, Tolichowki, Gachibowli, and Kondapur.

In 9-15k rental bracket come the names lie Himayath Nagar, KPHB, Miyapur, Jubilee Hills, Madhapur, and Banjara Hills. JNTU and Chand Nagar too offer 2 BHKs in the same range. Inspite of the affordable starting prices, the rental rates in some of the prime locations such as Gachibolwi, KPHB, Ameerpet. Jubillee Hills, Banjara Hills, and Miyapur offer pricey options too. For example a two bedroom flat on rent in Kondapur can cost a tenant monthly rental up to 75-80k. In Banjara Hills and Jubillee Hills, one can find well-furnished apartments with rental price up to 25 k.

As the Telangana issue subsidizes, the rental rates for properties in Hyderabad are expected to see a price appreciation.

The Price Variation of 2 BHK Flats for Rent Across Localities of Hyderabad

The demand for rental houses in Hyderabad remains an all-time steady, the reason being the preference of buyers to live on rental spaces rather than buying a house of their own, which is not viable. A large portion of city's population still thrives on rental spaces; in prime localities like Kondapur, Jubilee Hills, and Banjara Hills too, this demand mainly comes from expatriates who arrive here from other cities every year. Most of the IT-driven areas witness steady demand. The city caters to the needs of tenants with different income brackets. We are going to see the available rental rates across different parts of the city.

A 2 BHK flat for rent in Hyderabad in 3-8k range can be saerched in areas like Dilsukhnagar, Uppal Mandal, Gandhi Nagar Tolichowki, Nizampet, Kukatpally, Vanasthali Puram, Chaitnyapuri, and Mehdipatnam. Over Begumpet and Ameerpet, the rates are affordable: you can find monthly rentals as low as 3-4k. Hydersha is one of the localities in Greater Hyderabad that carry budget rates; the lowest rental value for a 2 room rental apartments averages around 7k.

In 9-11k price bracket are covered Hyderabad real estate localities like KPHB, Domalguda, Miyapur, Madhapur, and Manikonda. For the higher price segment, i.e. 11-15k monthly rental, one can look for an apartment in Nallaganda, Chand Nagar, Sanjeeva Readdy Nagar, Kondapur, Balanagar, and Upper Pally can be the fine options. For tenants who have been looking for a 2 BHK rent house in well-developed localities can choose from among NanakRam Guda, Sanath Nagar, Jubilee Hills, Madhapur, and Banjara Hills. Jubille Hills and Banjara Hills are the premiere localities and the average rental price for a two-room apartments can cost a tenant up to 25k.

The well-salaried tenants in Hyderabad prefer 2 BHK properties in localities that have good IT presence and well-developed infrastructure.

Plummeting Economy has not Effected Rates of Properties in Hyderabad

According to the Residex value by NHB(National Housing Bank), there are twelve Indian cities where residential rates have appreciated by 12%. One of these is Hyderabad. In the third quarter, i.e. Jul-Sep, this city saw an escalation of 5%. Hyderabad, akin to other tier-I cities, is undergoing plummeting in the overall demand, yet the prices have not got down that low. During the same quarter, the Residex of the city was reported at 88; the value was 84 in Apr-Jun quarter.

Properties in Hyderabad, in the western region, have been in news since they were allotted 3 million square feet of office space. Such a whopping addition would be a boosting factor for city's real estate market. This could also result in further increase in the capital rates. The rental rates in West colonies are already more than that in other Indian cities; standing at an average of 40/sft Over past 12 months, the rental rates here too have followed the suit.; they have escalated by 12% over this period. With the allocation of extra land, the western part shall see booming of more IT companies; thus generating more employment opportunities. That would mean that more population will commute from other parts of the city to here.

 

Apartments for sale in Hyderabad are witness to the set-up and commendable growth of IT companies and business centers. Localities like Jubilee Hills, Banjara Hills, Hi-Tech City, YusufGuda, and Kukatpally have already established themselves as nerve-centers of software sector. If compared to the colonies of East Hyderabad such as Uppal, Dilsukhnagar, Bahadurguda, and Malkaj Giri, the western locales have done far better in terms of IT/ITeS sector. Establishment of an IT investment region worth 2,00,000 crore is also on cards. This will be like a shot in the arm of western part.

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Hyderabad, known for the strong presence of software sector, has remained one of the most sought-after metropolitans of the country, for buyers and tenants. A large chunk of the residential demand comes from those who prefer living on rental spaces; this is the primary factor that drives city's realty market. The large influx of professionals seeking white-collared jobs too opt for rental properties, rather than buying a flat or apartment of their own. A purchase is infeasible for both the budget-minded residents as well as the tenants from other cities. There is no paucity of the rental houses here. As the demand remains high all through the year, the prices of such properties keep on soaring year after year.

A rent house in Hyderabad is available across flexible price brackets. For the seekers of two-room rental houses, localities like Nallakunta, Miyapur, BandlaGuda, Dilsukhnagar, Moti Nagar, A.S. Rao Nagar, and Dammaiguda are good to make a choice from. The rental rates in most of these micro-markets carry the starting prices anywhere between 5k and 7k. ECIL has even the lower rates than that. Tenants can find a two-room apartment here at a monthly rental of a mere 3-3.5k. As the rent is so low, one can't expect too many amenities or well-furnished interiors.

The other localities where a rental apartment is available in the higher range, 8k-10k include YousufGuda, Kukatpally, Madhapur, Himayath Nagar, KPHB, Mirjalguda, Saroor Nagar, and Defenec Colony, to name a few. The range specifies the starting prices, though there are flats and properties in Hyderabad that come with much higher price tags in these colonies. For instance, you will find rent flats in Madhapur, with rate as low as 11k and as high as 20k. This f

lexibility helps in catering to tenants with different budgets.

The localities where average per square feet rate has got an upsurge in Jun-Sep quarter are Banjara Hills, Ameerpet, Gachibowli, Kukatpally, Nalllakunta, Somajiguda, and Srinagar Colony. In the later two, the average psf is a high value; in the current quarter, it stands at 15/ sq. ft. The other areas with a high psf value are Miyapur, Masab Tank, Nallagandla, Manikonda, Begumpet, and Ameerpet. Nizampet, Chandanagar, and Manikonda have seen a slump in the psf rates; so these can be good options to look for rental houses.

So, you see that there are a plethora of options for the seekers of rental properties in Hyderabad. The presence of good infrastructure and good connectivity to the neighboring cities make it a place worth to live at.

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The Slipping Rupee affecting Real Estate in Hyderabad

With rupee plummeting like a free fall under gravity, the real estate in India is facing a crunch. In Hyderabad, that recently got itself caught within the turmoil of Telangana, is now facing the same in property market. This fall of currency is seen as the iron in the fire by NRI investors; every decease in value against dollar is seen as the lucrative opportunity by them. So, they are investing heavily on apartments in Hyderabad. For some of them, the expectations of making good money out of property investment is high so much so that they are just waiting for more slump in the value. Indian banks have further bolstered these investors by offering heavy interest rates on the amount they invest. It would be suffice to say that they are going to rake in mullahs as long as the money market is facing a depreciation.

To ameliorate the tension of common buyers who want properties for sale in Hyderabad, builders are now coming out with propositions such as pre-booking discounts and easy payment schemes. But unless the currency rises again and steadies itself to a decent value, not much hope is there in terms of sale-purchase in the city. In spite of all this, price rates in localities like Guntur and Vijaywada are soaring high. The price per square feet(psf) in the state has seen a 12% hike over the past one month. In August last month, it stood at a value Rs. 3016/-. In Hi-Tech City and Miyapur, the rates have increased by 21% and 17% respectively over past 12 months. Unless the Indian currency rolls back to its original value and the developers slash the rates, the demand is going to remain sluggish.

Leaving NRI investors aside, the scenario is not good for the end-users. The increase in inflation is stopping the buyers from making any purchase in the near future. As the demand is receding, there is a surplus supply. The result is imbalance in demand-supply ratio for the Hyderabad real estate. CREDAI(Confederation of Real Estate Development Association of India) has even laid down the proposition before real estate advisory services like Ernst & Young , Jones Lang Lasalle, and others to calculate this demand-supply ratio in the state. These agencies, whichever is assigned the responsibility, shall come out with a detailed insight of the things.

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Hyderabad Property: Apartments Undergoing Price Escalation

With the green signal given to Telangana for statehood, all the negative speculations regarding real estate in Hyderabad seemed to have taken a back seat. The trends are expected to go in favor for the investors into property this year. As the city now would be a part of the new state, there is a high potential regarding job opportunities, which, in turn, would influence the launching of new projects and thus, bring about an escalation in demand for Hyderabad real estate.

The land rates in the city are expected to soar appreciably. This is expected in the peripheral areas like Outer Ring Road where developers are already taking interest in initiating residential and commercial spaces, in the years to come. On the same lines, the apartments for sale in Hyderabad are expected to garner an increase in price rate by 200-300/ sq. feet. For villas too, the picture seems to be rosy: as the supply is less, their prices are going to rise. Then come the plotted developments: these saw a steep rise in rates last year, and this year too, they are expected to follow the same suit. A few budgeted villas have sprung up in the areas covering north and south corridors.

Considering the last two months of April and June, areas like Guchibowli and Bachupalli saw an increase in price rate by 10-15%. Guchibowli has already acquired the status of being the most preferred location for the buyers looking out for house for sale in Hyderabad. In the first quarter only, Hi Tech city witnessed even a much higher growth rate of 29%. Talking of the city as a whole and considering a span of last 12 months, the per square feet value got a raise of about 16%. On the contrast, areas like Kondhapur and Kompally have witnessed a slight decrease in values.

The rates are exorbitant in Benjara Hills where the current per sq. feet (psf) value in July, 2013 stands at Rs. 6183. It is interesting to note that this locality gained such a bump only in late February this year. Prior to that, value was somewhere around Rs. 1030/sq. feet. For upper class buyers, who are seeking Hyderabad property in plush locations, Benjara Hills is a good option. Its swanky hotels, top-class malls, commercial buildings and closeness to MMTS station add the much-expected glamor. The presence of International Airport at Shamshabad, the surrounding areas are expecting the price rises.

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