NRIs prefer Texas land as Hyderabad's real estate market becomes expensive
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Hyderabad, Sept. 16 -- The expensive real estate market in Hyderabad is pushing NRIs to look for alternatives to park their money, and they have found it in Texas.
According to a report in TOI, many NRIs are purchasing land in two popular Texas cities, Dallas and Austin, instead of investing in the real estate market in Telangana's capital.
Comparison of land prices in Hyderabad and Texas
The price of an acre of land in Hyderabad ranges from Rs 40-50 crore, whereas in Dallas and Austin, it is USD 500,000-700,000 (equivalent to Rs 4-6 crore).
Apart from affordability, the weather in these US cities is also similar to Hyderabad.
The US state is also witnessing an increase in the presence of big firms in and around the cities. Recently,...
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