Hyderabad sees 26 pc hike in housing prices in five years

Housing prices in Hyderabad have increased by 26 per cent since 2013 despite weak investor sentiments and agitation for Telangana, according to property consultant ANAROCK. "Hyderabad, a densely populated city and a major IT/ITeS hub, is fast transforming into a mega-city with high liveability index. Furthermore, the city enjoys the benefit of a circular development due to the outer ring road which helps in multi-directional growth," ANAROCK Chairman Anuj Puri said in the city report. 

“Factors like an online clearance system for new projects approval, large-scale support from the state government for young entrepreneurs, low cost of living, good quality of life, abundant land availability, large talent pool and decent infrastructure make Hyderabad one of the most sought-after cities in the country,” he added. 

The unsold inventory in the city has been declining gradually since 2017. In fact, the city scores far better than many other metro's in terms of unsold stock pile-up situation. 

Pyramid Infratech to refund Rs 8.22 cr to home buyers 

In a huge relief to the home buyers, the National Anti-Profiteering Authority (NAA) has ordered Gurugram-based Pyramid Infratech to refund over Rs 8.22 crore to 2,476 flat owners as it had failed to pass on the benefit of GST reduction to them. The order was passed on Tuesday on a complaint of profiteering filed by 109 home buyers of two affordable housing projects of Pyramid Infratech — Urban Homes, Sector 70A, Gurugram and Urban Homes, Sector-86, Gurugram.  

The authority directed the company to refund or reduce Rs 8.22 crore from the buyers' last installment along with the interest of 18 per cent per annum to be calculated from the date of the receipt of the excess amount from each buyer, within a period of 3 months. 

The NAA has also directed the Commissioner of State Tax, Haryana, to monitor whether the amount profiteered was passed on to all the buyers and submit a report to the authority within 4 months.  — PTI