Hyderabad 2BHK House Rent Price 2023: The average rents for a 2BHK 1000 sqft home in Hyderabad’s prime locations have increased by around 12% between Q1 2022 and Q1 2023, according to ANAROCK Research. The top three markets in Hyderabad where rents increased significantly in 1 year were HITEC City and Kondapur. Here’s a look at the average amount of housing rents for a 2BHK 1000 sqft house in these prominent areas of the city, according to data from ANAROCK Research.
HITEC City
The average rent in HITECH City in Q1 2022 was around Rs 24,000 for a 2BHK 1000 sqft home. By Q1 2023, the rent in this area increased by 11% to Rs 26,800.
Gachibowli
The average rent in Gachibowli in Q1 2022 was around Rs 23,000 for a 2BHK 1000 sqft home. By Q1 2023, the rent in this area increased by 12% to Rs 25,600.
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Kondapur
The average rent in Kondapur in Q1 2022 was around Rs 21,500 for a 2BHK 1000 sqft home. By Q1 2023, the rent in this area increased by 12% to Rs 24,000.
Meanwhile, housing sales in Hyderabad declined by 32% in Q1 2023 over the corresponding period last year. However, the city added over 52% new supply in the high-ticket price segment of over Rs 1.5 crore.
The average property price in Hyderabad jumped from Rs 4128 per sqft in 2018 to Rs 4620 per sqft in 2022. Hyderabad has seen a maximum 5-yearly increase of 10% in average property prices in the last five years, according to ANAROCK Research.
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In 2023, approx 25,120 residential units are scheduled to be completed. In 2022, the city recorded sales of approx. 47,500 units in 2022, which was a massive yearly increase of 87% over 2021.