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High Demand, High Supply Mark Hyderabad’s Realty Growth
Hyderabad has emerged as the real estate developers’ most preferred market, adding 22 percent of the total 50,000 plus new residential launches in top cities.
G
Guru Prasad
Hyderabad
Fri Feb 18 2022
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High Demand, High Supply Mark Hyderabad’s Realty Growth
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Hyderabad has emerged as the real estate developers’ most preferred market, adding 22 percent of the total 50,000 plus new residential launches in the top six cities of the country in the fourth quarter of 2021, which is between October and December. Cities such as Pune and Bengaluru accounted for 17 percent and 12 percent, respectively.


There was a positive momentum with a quarter-on-quarter rise of eight percent in the number of new residential launches in Hyderabad. As expected, west Hyderabad dominated with 57 percent of the total new launches, as per Square Yards research.


As has been widely reported, realty in west Hyderabad has picked up tremendously, surpassing north Hyderabad. In fact, if one looks at statistics, the peripheral zone of west Hyderabad accounted for one-fifth of the total new launches in 2021.


The development is all thanks to the pandemic as people have developed a need for affordable yet spacious homes. Interestingly, Hyderabad has been the most searched city for residential properties vis-a-vis other metros and growing major cities.


There has been a marked increase in demand for 2bhk and 3bhk homes wherein there was 61 percent supply for 2bhk homes and 30 percent supply for 3bhk homes. On the other hand, spacious homes were sought after in Tellapur, Bachupally in the west, and Attapur in the south. While most properties were in the Rs 60 lakh bracket, there was a healthy increase in the Rs 1-3 crore segment.


According to the Anarock survey, homeownership has again become a priority during the pandemic, and people have shifted focus from compact homes in the central business district and secondary business district areas to larger homes in the periphery. Work from home and hybrid work mode has only precipitated the demand. It was also noted that there was a parallel increase in demand for plots along with villas.


In all, the realty market in India and in Hyderabad has seen a change in great speed and magnitude.


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High Demand, High Supply Mark Hyderabad’s Realty Growth
High Demand, High Supply Mark Hyderabad’s Realty Growth
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