HYDERABAD: While the new supply of affordable housing has been shrinking over the last two pandemic years, demand has remained healthy. Among the top seven cities in the country, Hyderabad has the lowest unsold affordable inventory. Hyderabad saw a 5 per cent decline in its unsold affordable stock - from 3,370 units in Q1 2020 to approximately 3,190 units by Q1 2022.
According to Anarock Group, of the total unsold stock across the top seven cities, affordable housing inventory saw the most significant decline of 21 per cent, from 2,34,600 units by Q1 2020 to 1,86,150 units by Q1 2022.Among the top seven cities, Chennai, Pune and MMR saw the highest decline in their unsold affordable housing stock over the last two years, with 52 per cent, 33 per cent, and 27 per cent reductions. These declines directly correlate to the intentional restriction of new budget housing supply.
On the other hand, the unsold stock of ultra-luxury homes priced at more than Rs 2.5 crore in the top 7 cities witnessed a 5 per cent decline in the same period from approximately 41,750 units by Q1 2020 to 39,810 units by Q1 2022. The available luxury supply in Hyderabad as on Q1 2022 was 3030.
Anuj Puri, Chairman, Anarock Group, said, “Affordable housing took the biggest hit from the pandemic, with the first perceivable change being its declining share of new supply. Data revealed that out of 70,480 units launched in the top seven cities in Q1 2019, affordable housing had a 44 per cent share.”