Hyderabad is one of the country’s most coveted and desirable residential hotspots as per several studies and reports. Several factors including economic growth, availability of employment opportunities and a wide range of housing options have contributed towards Hyderabad’s growth as a residential real estate hub. Hyderabad is already witnessing growth in overall real estate activity and construction along with an increase in capital values. The increase in absorption of commercial and retail spaces is also boosting the residential real estate market in turn. This has also increased overall sales volumes across segments.
The Government has also come out with pro-active policies for boosting infrastructure development and these have rubbed off positively on the sector. Absorption went up by a whopping 21% last year as compared to the year before that on account of better sentiments in the market and also the growth of the workforce in the IT and ITeS sectors. For the first quarter of this year, absorption is quite similar to the new supply being launched in the realty space. Around 74, 000 units have been launched over the last 5 years in the city and almost 71% of these are located in the city’s western zone.
Unsold inventory has come down rapidly from 2017 itself. Total unsold stock in the city, as estimated by reports, touched 35, 560 units for the second quarter of 2016. This has already come down by 14% in the same quarter in 2017. This has also decreased by 13% for the second quarter of 2018 as compared to the same period last year. Additionally, several new housing projects are coming up in Hyderabad, all of which promise to cater to growing demand. Some of the top options for buyers include Vertex Panache, Jayabheri The Park, SMR Vinay Iconia and Lahari Arcade to name a few.