It is probably the biggest talk among the realtor sector, but it is a proven fact that Hyderabad is one city that has seen the highest growth in house sales among the top 8 cities in the country. Despite the second wave and all that the world has faced in 2021, the fact remains that Hyderabad has been a realty gold mine.
It has been seen that Hyderabad has emerged as the property market of IT hub and has recorded the highest jump when it comes to the Indian market, according to Knight Frank. Frank’s India Real Estate January-June 2021 report was released on Thursday, and it shows that Hyderabad has seen a 150 percent rise in home sales and is among the top 8 cities during the first two quarters of 2021.
It is said that 11,974 units were sold compared to 4782 units in H1 of 2020, as per a report. There was a direct rise of 420 percent in Q2 of 2021, compared with the same period last year. This clearly shows that an additional 5065 units were sold to the city.
As per Frank’s report, demand grew across all ticket sizes in the city during the first half with Rs 25 to 50 lakh, which meant a 240% increase. As a result, the average cost of a unit was between Rs 1-2 crore, showing a 158% rise compared to H1 of 2020. The high demand eventually led to a marginal increase in sq ft, which now stands at an average of Rs 4720sq ft.