Hyderabad most affordable to buy or rent

Hyderabad is the most affordable place for those aspiring to buy or rent a home, according to Artha Yantra, an integrated personal finance advisor company. Compared to other cities like Mumbai, Chennai, Bengaluru, Pune, Delhi and Kolkata, Hyderabad has emerged as the most economical. The study also states that an individual earning more than Rs 10 lakh per annum ought to buy property in Hyderabad, citing that the property costs have boosted in other metropolitan cities.

The online study conducted on real estate investments in India is categorised in three categories. The first category professionals earning salaries less than Rs 8 to 10 lakh per annum are advised to rent accommodation. The second category listed that individuals earning more than Rs 10 lakh per annum should prefer renting or purchasing property with little changes in their lifestyle as the property prices in the other cities have gone up, where as Hyderabad still remains reasonable.

The third category involves individuals earning more than Rs 12 lakh and above should undoubtedly go for purchasing the residential property. The report was intended to reveal the monthly payment to be made by the home owner than renting. Since 2013, Hyderabad witnessed a 15 per cent hike. An average rental in the city is tentatively Rs 12,000 per month.

In the last two years, Hyderabad had turned out to be the most affordable city to buy as well as rent. One of the reasons behind the reasonable prices in Hyderabad is bifurcation. Accordingly, the city has been ranked as the foremost affordable place for a professional in terms of both renting and buying a property.