Hyderabad’s affordable construction costs outshine Mumbai’s priciest rates
In a detailed analysis, it was found that while Mumbai tops the charts with the highest construction costs, Hyderabad offers a cost-effective alternative, especially for high-rise luxury apartments of 30 floors and above.
Hyderabad: Hyderabad stands out as a city with relatively moderate construction costs across various asset classes when compared to other major metros in India. According to the Construction Cost Guide Book by JLL India, Hyderabad’s construction expenses are notably lower, making it an attractive destination for real estate development.
In a detailed analysis, it was found that while Mumbai tops the charts with the highest construction costs, Hyderabad offers a cost-effective alternative, especially for high-rise luxury apartments of 30 floors and above. The data reveals that constructing such luxury apartments in Mumbai can cost between Rs.4,250 to Rs. 5,000 per sft, whereas in Delhi and Pune, the range is Rs 4,100 to Rs.4,800 per sft and Rs. 4,050 to Rs.4,750 per sft, respectively. In contrast, in Hyderabad, the cost falls between Rs 4,000 to Rs. 4,700 per sft.
Similarly, for mid-rise luxury apartments, Hyderabad remains competitive with construction costs ranging from Rs. 2,600 to Rs. 3,000 per sft, compared to Rs 2,750 to Rs. 3,200 per sft in Mumbai.
Coming to commercial buildings, Hyderabad again presents itself as a cost-effective option. Constructing high-rise commercial properties in Mumbai can cost between Rs 3,650 to Rs. 4,450 per sft while Hyderabad offers a more affordable range of Rs 3,100 to Rs. 4,200 per sft.
“In 2023, the Indian real estate construction industry stabilized and continued to grow throughout the year despite global disruptions,” the report said.
The report further revealed that Hyderabad has lower cement prices but higher prices for certain material like reinforcement steel, structural steel, and paints emulsion.
High Rise Luxury Apartments (Floors: 30 ):
* Bangalore- Rs. 4,020 to Rs 4,700
* Chennai – Rs. 4,000 to Rs. 4,650
* Delhi – Rs. 4,100 to Rs. 4,800
* Hyderabad – Rs. 4,000 to Rs. 4,700
– Mid Rise Luxury Apartments (Floors: 15 )
* Bangalore- Rs.2,600 to Rs.3,000
* Chennai- Rs. 2,550 to Rs. 2,950
* Delhi – Rs. 2,650 to Rs. 3,050
* Hyderabad – Rs.2,600 to Rs.3,000
* Mumbai – Rs. 2,750 to Rs.3,200
