HYDERABAD: Despite early pandemic blues, real estate in Hyderabad saw a quick recovery, especially in the residential sector.
According to a recent report titled ‘India Real Estate’ by Knight Frank, Hyderabad saw a 278% year-on-year (YOY) increase in new housing launches.
Additionally, the new home sales in the city witnessed a significant 150 per cent YOY growth with 11,974 units during H1 of 2021, when compared to 4,782 units in H1 of 2020.
The report says that areas in West Hyderabad (Kukatpally, Madhapur, Kondapur, Gachibowli, Raidurgam, Kokapet) accounted for the largest share in residential sales as well as launches, with a share of 63% and 64% respectively in the total sales and launches in 2021 H1.
Further, West Hyderabad’s share in the total pie of sales and launches also increased in H1 of 2021, in comparison to that in H1 of 2020. Meanwhile, there has been an overall increase in demand across all ticket-sizes in 2021 H1.
Samson Arthur, branch director, Knight Frank India, Hyderabad, said: “Hyderabad continues to be a promising residential destination for end users and investors alike. A unique proposition for the city’s attractive index continued to be the Government’s thrust on improving the infrastructure.”