The answer to this question lies in what a home-buyer in Hyderabad is expecting one’s home to be! is it worth buying 1 crore flat in Hyderabad
Other logical questions that arise out of this question are:
- What kind of location is the home buyer looking at?
- How much square foot area is one looking at? How many bedrooms?
- What kind of specifications one is looking at? Low-range, mid-range or high-range specifications?
- What kind of quality build one is looking at- below average, average, medium, or superior quality?
- What kind of building one is looking at- i) standalone building or ii) gated-community residential complex?
- What are the priorities and expectations when it comes to family, and their needs?
Preferences and priorities of a home buyer
To explain the relevance of these questions, we need to get a better appreciation of the home-buyer preferences and context. A one-crore apartment in Jubilee Hills or Madhapur would be smaller because of the location cost.
Assuming that the budget is a comfortable Rs 1.3 crore:
- An apartments priced at Rs 7000 per sft translates to 1850 sft (mid-size 3BHK)
- The same Rs 1.3 apartment in the scenic and green locality of Sainikpuri or Yapral would be much bigger
The choice is ultimate with the home buyer and depends on how the home buyer thinks.
With a budget of over Rs 1 crore, a home buyer may want to go for one of the 2 options-
- Option 1: Expensive location, smaller 3 BHK in Hyderabad
- Option 2: Reasonable location, bigger 3 BHK in Hyderabad
Options become more luxurious as the budget goes beyond Rs 1.3 crore in reasonably priced locations in Hyderabad like Sainikpuri, Kompally or Yapral.
Smaller vs. bigger apartment with Rs 1 crore budget
With a budget of over Rs 1 crore, the home buyer needs to decide, whether to…
- …go for a smaller 3 BHK cluster apartment in a more expensive locality like Gachiblowli or Madhapur?
- …choose a spacious ‘exclusive floor’ apartment in reasonable and lush-green localities like Sainikpuri or Yapral?
‘One apartment per floor’ residences is it worth buying 1 crore flat in hyderabad?
In localities like Sainikpuri and Yapral, a 1600 sft to 1800 sft apartment would cost anything around Rs 4500 to Rs 5000 per sft in the standalone building segment- totalling Rs 70 to Rs. 80 lakh.
However, with a budget of over Rs 1 crore, a home buyer can opt for more luxurious options like ‘an independent floor’ apartment.
A standalone building ‘exclusive apartment’ priced at Rs 5500 per sft in Sainikpuri or Yapral would mean a super-spacious 2300 sft (big-size 3BHK) where the owner owns the entire floor. Such an exclusive, independent floor could cost anything around Rs 1.3 to Rs 1.5 crore in Sainikpuri, Yapral belt, as well as similar localities in Hyderabad. So, by choosing low-density localities like Sainikpuri, Yapral, you end up buying the entire spacious floor to yourself for your money.
If the priorities favour space and staying away from crowded job-hubs like Hi-Tech city, then an ‘exclusive independent floor apartment’ in such reasonably-priced localities is an excellent option!
A Rs. 1.3 crore or more exclusive ‘independent floor’ apartment in reasonable localities like Sainikpuri & Yapral usually offers you:
- More space (over 2200 sft of area)
- More privacy, more greenery
- Higher per sft price as compared to regular apartments
- Superior specifications
- Amenities like elevator-access to your floor (lift)
- Power back-up
- Exclusive reserved parking
- Low-density living with excellent social infrastructure
- Security and higher lifestyle living that feels like a villa
Depending on the priorities and preferences, an apartment like this is definitely worth buying for over Rs 1 crore of budget in Hyderabad.
To quote Dallin H. Oaks- “Desires dictate our priorities, priorities shape our choices, and choices determine our actions.”
To know more about ‘Buying a SUB-STANDARD, BIGGER apartment- a raw deal for 3 BHK homebuyers in Hyderabad… Click here