With booming home loan prices, property prices and property demand, Hyderabad is experiences a surge in real estate property rates.
The price rates for real estate properties in Hyderabad are getting very uneconomical with each passing day. The home loans to the earning ratio is approximately 31% in the year 2023 which was around 34% before the Covid. However, the proliferating prices have not effected the sale. Hyderabad is still one of the top priorities for NRIs who are residing in the US, Canada, the Gulf, Europe and others.
According to the research done by Knight Frank’s Affordability Index, for this year, the most unaffordable price rates for real estate properties are in Mumbai.
In Mumbai, the EMI for property loans for a middle-class group is approximately 55% of their earnings. However, the price rates for the real estate properties located in Ahmedabad, Gujarat are very affordable. Here, the EMI for the property loans for a middle-class group is approximately 23% of their earnings!