Hyderabad sees highest growth in home sales, new launches

Hyderabad: Hyderabad's residential sales and new launches witnessed growth of 272 per cent and 650 per cent respectively in (July-September quarter) Q3 of 2021. The city recorded sales of 5,987 residential units and 9,256 residential units were launched during this period according to international property consultancy Knight Frank India's quarterly report-India Real Estate Update.

The city has registered the third highest transactions in the office space with 0.19 mn sq m, next only to Pune and Ahmedabad in Q3. The new completions declined 38 per cent and the average rental growth also decreased 2 per cent in the city during this period. The cumulative office transactions for the first nine months of 2021 were recorded at 0.33 mn sq m.

"Hyderabad has witnessed remarkable growth in office transactions on the back of robust demand by IT and manufacturing sector. Strong infrastructure development and socio-economic friendly government policies have been a big boost for the market," said Shishir Baijal, Chairman and Managing Director of Knight Frank India.

Rajani Sinha, Chief Economist and National Director - Research, Knight Frank India said: "Hyderabad residential market has seen a significant growth in the residential sales in Q3 2021, as most end users viewed this to be a good time to enter the property market with low home loan rates as well as improvement in overall affordability. As the economy improves, we can expect further strengthening of the demand trends."