In one of the most expensive residential deals recently in Hyderabad, Metamor Software Solutions directors Meghna Dilip Bhanushali and Tummala Vipul Reddy have bought a property in the city for Rs 48 crore.
The property, spread over 13,000 sq ft with a built-up area of 3,951 sq ft in the Jubilee Hills area, was bought from Manoj Kumar Tibrewala. “The property was sold for family and business needs, and a stamp duty of ‘2.6 crore was paid on the same,” said the sale deed document shared by Zapkey.
Metamor Software is an IT software services and consultancy firm based out of Hyderabad with offices also in the US. Hyderabad’s property market continues to witness big-ticket land and bungalow deals, with demand at an all-time high from buyers such as businesspeople and film actors.
In the last two years, the city has seen more than 200 large-ticket residential and land deals. Houses in Jubilee Hills, spread over 11,000-15,000 sq ft, cost between Rs 30 crore and Rs 50 crore. The luxury housing segment in India has performed remarkably well post the pandemic, with overall sales rising steeply across the top-7 cities despite an upward trend in prices.
Some of the well-known people who bought luxury homes recently include Tata Sons chairman N Chandrasekaran and his family, Telugu film actor Siddharth Galla, PharmEasy founder Siddharth Shah and Micro Lab managing director Dilip Surana.
According to experts, India’s market for luxury and super-luxe homes will see an uptick in the coming quarters, with demand outstripping supply, even as the number of wealthy individuals is steadily going up.
According to a Knight Frank India report, the number of Indians with a net worth of more than $30 million is expected to increase by 58.4% to 19,119 in 2027 from 12,069 in 2022.
