Who doesn’t like luxury and owning huge houses? But looks like Hyderabadis have realized the need for larger and more luxurious spaces during the pandemic. Being tied down to their houses, the realty investors in Hyderabad have made quantifiable investments. In fact, Hyderabad is one city that has seen growth in sales of luxury units in the years 2020-21. In the second quarter of 2021, ie, in April-June, 429 luxury homes were sold, which meant a 121% increase in sales. It is probably the only city in India that has recorded profits due to launches and sales.
It has also been noticed that the value of square feet of newly constructed buildings has also increased. As per PropTiger Research Pvt Ltd, there has been a 5% increase in sales of homes. Today, the city has emerged on par with cities such as Bangalore and Delhi’s NCR.
Realtors attribute this uptrend to the IT and pharma industries and many businessmen find the city conducive for business. And most of these segments have been eyeing luxury homes in the past financial year.
A total of 8811 units were launched in 2020-21 and there was a 16 percent annual increase. Another interesting factor is that more than 51 percent of the homes were priced at Rs 75 lakh and above. Today, the price for one sq ft is around Rs 5790.