The Bitter Truth Behind Hyderabad’s Real Estate Boom

I just saw this newspaper clipping online and honestly, it's kind of depressing but makes total sense. It says something about how even the top 5% richest people in Hyderabad need like 23 years of full savings just to buy a basic 1,100 sq ft house.

Like, what about the rest of us? I was talking to a colleague in office yesterday who is looking for a 3BHK near Gachibowli or Tellapur, and the prices he's mentioning are just absolute madness. Builders are asking for 1.5 to 2 crores easily for decent carpet area, and then they say "pre-launch offer" but the possession is like 4 years away! By that time, god knows what the EMI will look like with interest rates.

Every time I drive past Financial District, there are just endless hoardings of luxury high-rises, but right next to them, the roads are completely broken and you see water tankers lined up everywhere. If the top earners are struggling for 20+ years to clear a house, how are normal salaried people even surviving this market? Are people really buying these or is it all just a big bubble? Not sure though, maybe I'm missing something, but it feels like Hyderabad prices are becoming like Mumbai but without that level of local trains or infra yet. Anyone else seeing this clipping or feeling the same stress lately?