Hyderabad leads in new housing launches for fourth quarter of FY 2021-22: Report
Of the 1.39 lakh new projects launched in cities like Delhi, Mumbai, Pune, Bengaluru, Chennai and Kolkata, Hyderabad accounted for a majority of those.
Published: 21st February 2022 03:27 AM | Last Updated: 21st February 2022 03:27 AM | A+A A-
Representational image of a building in construction.
HYDERABAD: With builders and developers coming up with many residential projects, Hyderabad leads in new housing launches. In 2021, it registered 36,367 new launches, far ahead of Pune which was second with 24,572 project launches.
Of the 1.39 lakh new projects launched in cities like Delhi, Mumbai, Pune, Bengaluru, Chennai and Kolkata, Hyderabad accounted for a majority of those.
According to JLL's Residential Market Update Q4, Hyderabad continued to dominate new launch activity with 26 per cent share of the total launches, followed by Pune and Bengaluru with 18 per cent and 16 per cent respectively. Mumbai accounted for 16 per cent of new launches during the year.
With regard to sales, it improved with 9,926 in 2020 to 15,787 in 2021. Home sales in the city remained almost stable at 4,503 units after a significant growth in the last quarter. Mid and upper-mid segment projects attracted maximum traction over the quarter.
Overall sales in the city are likely to see a growth in coming quarters. Capital values inched up marginally across all submarkets during the quarter but are expected to remain stable or grow marginally in the short to medium term owing to a substantial unsold inventory Affordable and mid segment projects are expected to drive the sales momentum in the city, especially in the Northern and Western submarkets.
Major builders were Cybercity Builders and Developers, Vaishnavi Infracon and Akrithi Housing. Most of the apartments have come up in Kompally, Medchal, Bachupally, Alwal, Bolaram, Shamirpet, Manikonda, Tellapur, Nanakramguda, Kukatpally, Miyapur and Nizampet.
As per the report, the market share of established and credible developers is expected to increase further with buying preference skewed towards offerings from developers with proven track record, financial strength and execution capability.
Renewed buyer confidence was instrumental in supporting the housing market recovery in Q4 2021, which recorded a healthy quantum of sales as compared to the same period last year.
