The right time to buy your dream home in Sainikpuri Amid Rising Construction Costs In Hyderabad In 2022!
One of the reasons why home buyers in Hyderabad are already opting for Sainikpuri to buy their dream home is the superior lifestyle and affordable pricing.
However, this may not last for too long with the cost of construction rising by the day.
As of April 2022, the prices and affordability of homes still remain very reasonable for 2BHK and 3BHK flats in Sainikpuri, Hyderabad.
The builders in Sainikpuri as well as the rest of Hyderabad are still continuing homes at very reasonable price points, akin to mid-2021 levels. Builders in Hyderabad are simply sacrificing and squeezing their profit margins so that prices remain within reach for home buyers.
This makes the current prices (April 2022 price levels) and times the most opportune time to acquire your dream home!
However, this may not be too long, and prices in the beautiful locality of Sainikpuri may go up in tune with rising construction costs in Hyderabad driven by rising raw material costs!
1. Are builders in Hyderabad feeling the heat?
“Steel prices have gone up from Rs 35-40 per kg to Rs 85-90 per kg. Cement prices have gone up by around Rs 100 per bag. Fuel and transportation costs have gone up. This has resulted in an increase of 20-25 per cent in the overall construction cost,” as per a CREDAI official.
Builders are already feeling the pinch of rising construction costs in Hyderabad, and currently, the prices of a 2BHK and 3BHK flat in Sainikpuri are very reasonable! It won’t be too long before the prices are revised upwards.
A regular apartment in a standalone building in Sainikpuri is priced at between Rs 4500 to Rs 5000 per sft, depending on the location i.e. how far away it is from the Sainikpuri main road that connects to A.S. Rao Nagar.
2. What’s the likely impact of rising construction costs in Hyderabad?
- Property prices in Hyderabad are likely to increase by up to 15 percent since the builders will want to offset the increase in rates of raw materials like steel, cement, transportation costs, and labor costs among other things
- With the steep rise in prices of raw materials like steel, builders will not be able to sustain their profits
- No builder will want to continue construction with zero incentive or profits
- If the situation doesn’t improve, then it becomes dangerous to even for home buyers
- The worst situation will be builders stopping construction activity or deferring purchasing raw materials
- Such a move by builders will mean uncertainty and delayed possession
- Central and State Governments will be required to give relief to the construction industry across India to get sustainable measures of controlling constructions costs, or by reducing stamp duty, registration and GST rates, and other measures to bring down the costs
3. Why buy your dream home in Sainikpuri now?
- Despite rising cement and steel prices, the per square feet prices in Sainikpuri are still very low
- Steel prices were about Rs 42000 (per tonne) in early 2021, and now in (April 2022) have increased to over Rs 85000 (per tonne). This is a massive blow to the cost of construction
- Similarly, the cement prices soared from Rs 260 per bag, to over Rs 400 per bag
- Sand (per brass) has gone up from Rs 6000 to Rs 7500 now. Wash sand (per brass) has risen from Rs 3800 to Rs 4800
- Cost of labor (wages) has also risen between 30-40%
- In Sainikpuri, the price of regular apartments in standalone buildings hovers between Rs 4000 to Rs 5000 per sft, depending on specifications and location (distance from Sainikpuri main road). This is very reasonable
- Similarly, the exclusive floors in Sainikpuri (‘ one apartment per floor ’) in a standalone building is in the range of Rs 5500 to Rs 6500 per sft which is again very attractive, especially considering amenities like an elevator (lift), parking, power back-up among other things
With this background, per square foot prices are bound to increase in the times to come in and around Sainikpuri. With the ever-evolving social infrastructure in Sainikpuri, it’s a good time to reserve your dream home in the lap of nature.
Of course, the beautiful green cover and environments of Sainikpuri shall remain priceless!
So, the time couldn’t be more opportune to grab the low-price deals which are available in Sainikpuri, before the prices increase.
“When you wait for the right time, you’ll never know when it’s already too late.”– Udai Yadla
To know more about “Benefits Of Buying Exclusive Floor Apartment During Early-Stages Of Construction in SAINIKPURI, Hyderabad!” Click here!