New home sales in Hyderabad witnessed a significant 150 per cent growth year-on-year (YoY) to 11,974 units in H1 2021 as compared to 4,782 units in H1 2020.
With respect to new launches, the city witnessed a 278 per cent YoY growth to 16,712 units as compared to 4,422 units in H1 2020, according to Knight Frank report.
The demand grew across all ticket-sizes in H1 2021. The ₹2.5-5 million category recorded a 240 per cent YoY increase whereas the ₹10-20 million category recorded a 158 per cent YoY increase in H1 2021.
West Hyderabad (Kukatpally, Madhapur, Kondapur, Gachibowli, Raidurgam, Kokapet) continues to account for the largest share in residential sales as well as launches, with a share of 63 per cent and 64 per cent respectively in the total sales and launches of H1 2021.
Further, West Hyderabad’s share in the total pie of sales as well as launches has also increased in H1 2021 in comparison to that in H1 2020.
Hyderabad recorded a substantial 278% YoY increase in launches in H1 2021 as developers responded to the growing residential demand in the market. On account of the pandemic-induced work from home trend, demand for larger homes has picked-up substantially in the Hyderabad residential market over the past few months.
Samson Arthur, Branch Director, Hyderabad, Knight Frank India said, “The Hyderabad housing marked responded strongly on all parameters across its micro markets. Interestingly, demand and supply grew significantly in comparison to corresponding period of last year. While IT firms, a key anchor, continued to grow in their core business Hyderabad continued 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.”