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Hyderabad Leads Market When It Comes To Hi-rise Apartments
The biggest trend in the last couple of years has been a strong title towards hi-rise buildings which almost reach the clouds.
G
Guru Prasad
Hyderabad
Mon Feb 14 2022
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Hyderabad Leads Market When It Comes To Hi-rise Apartments
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Have money? Splurge it. That’s the new mantra as far as the real estate market is concerned in India. And so is the case in Hyderabad. The biggest trend in the last couple of years has been a strong title towards hi-rise buildings which almost reach the clouds.


The pandemic has pushed the demand for hi-rise buildings in Hyderabad city, and one can see extensive construction in the western side of the city in places like Kokapet, Nanakramguda, and Financial District. Most buildings are obviously more than at least 10 floors and up to 25 to 30 floors.


However, it has been observed that high net worth individuals (HNIs) and NRIs are the prospective buyers for the apartments in hi-rise buildings as they are used to living in open spaces. Also, the top floors in these apartments are premium priced, and the buyers are mostly looking at keeping the entire floor to themselves.


According to a recent report by Anarock, Hyderabad has witnessed the highest increase in terms of hi-rise share as there has been a growth of almost 41 percent in 2021, with the city seeing 57 hi-rises. Interestingly, the report also shows there has been a decline in the share of hi-rise launches. The hi-rise share in new launches in 2020 and 2019 for Hyderabad stood at 51 percent.


Meanwhile, the share of a hi-rise in Bengaluru and Chennai has been 36 percent and 10 percent, respectively. However, the most obvious real estate trend in urban India has been a COVID-19 casualty. In areas like ORR and surrounding areas, there is a new trend for plotted development, where the builders are buying large chunks of land and building villas with lush greenery.


While hi-rise apartments where entire floors are taken up are the trend in NCR, in south Indian cities like Hyderabad, Bengaluru, and Chennai, the trend is towards plotted development.


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Hyderabad Leads Market When It Comes To Hi-rise Apartments
Hyderabad Leads Market When It Comes To Hi-rise Apartments
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