The real estate paradigm in the country largely can be dived into two main paradigms, the Urban and Rural. While a great amount of quantification of data regarding the sale of properties in rural segment, the sale of properties in the urban segment, especially in metro cities is often a point of discussion.

The Skyhigh Prices Of Hyderabad

Raising eyebrows at the astronomically high property prices, an anonymous Redditor took to the social media platform to share their bewilderment concerning the sale of real estate in the south Indian metro city of Hyderabad.

In the Reddit post entitled, 'Who is buying all those properties', the user shared some of their experiences.

The post started on a note of bewilderment, as it remarked "Are property prices in cities completely out of reach, or am I missing something?"

Further, elucidating and referring to personal experiences dealing with sky-high prices, the Redditor further added, "I've been checking out properties lately, and the prices are blowing my mind."

The user tried looking for properties not just in the city, but in the outskirts as well. The Redditor further added, "Villas (construction not started) in Kollur for Rs 12 crores, 3BHK my home flats in Tellapur for Rs 2.75 crore, and Prestige City villas starting at Rs 11 crore. Even DSR flats are going for Rs 16 crore!"

Here, Kollur is a neighbourhood that is located 35 kilometres from the city of Hyderabad. Tellapur on the other hand is satellite town located near the IT hub, making it more enticing for property buyers.

Prestige is a developer with a presence in other cities. DSR is also a developer based out of Hyderabad.

Traumatised By Prices

Further explaining their ordeal, the user added, "I have a decent job and earn well, but these prices seem impossible to reach. Is everyone around earning in crores, or is it just me? Have I chosen the wrong profession, or is this the new norm? Would love to hear your thoughts. I am literally traumatized after seeing the prices."

Are NRIs Buying Up Properties?

Below the main post, many other users replied and tried to find answers to the 'questions'.

One user replied and said, I bought a house recently and can tell its the NRIs who are buying it."

"They buy the property when it is at launch price which is much cheaper than the current market price and then try to sell it high when the price peaks at the Move in.

We have created a WhatsApp group and can see that 80 per cent are with a US or European number.

Another user added, "Im trying to become a broker (channel partner), seeing prices even Im shocked. Im going through luxury villa projects in Nallagandla, Bandlaguda, Rajendranagar, Kismatpur, and Shamshabad areas. The starting prices are like this 7cr, 8cr, 10cr, 14cr, 14cr 8cr. Damn."

Another user, once again pointed their fingers onto NRIs and said, "Remember the next 4-5 words NRIs, politicians, and corrupt officials. That's your answer."

One user added,"City population is around 1.2 Crs. At least 1 per cent of that would give 1L people who can afford those. Add another lakh of people who’re rich from other parts of the Telugu states. Another few lakhs of NRIs. I’ve also noticed a lot of HNIs shifting from other parts of Hyderabad to west."