The real estate market in Hyderabad witnessed positive growth in H1 2018 with 182% growth witnessed in case of sales volumes of residential real estate. Hyderabad had 5, 476 units being sold successfully in this period in comparison to 1, 941 units being sold in the same period in 2017. Kolkata posted the highest sales growth of a whopping 280% with 2, 955 units being sold in this period as compared to just 778 units sold in H1 2017 according to reports.
CREDAI (Confederation of Real Estate Developers’ Association of India) is the apex forum for the industry and has jointly prepared sector reports with top firms as part of the 18th annual international convention of the organization. Mumbai notched up the highest sales volumes for residential real estate in H1 2018 with more than 13, 600 units being sold in this period while Bangalore came second with 13, 300 units sold in this period. Pune also saw 10, 000 units being sold which indicates a little hike of 2% in realty sales volumes. More than 10, 000 units were also sold in the Delhi-NCR belt for H1 2018.
Sales volumes stood out hugely for Kolkata and Hyderabad since last year’s sales volumes were really limited in these two key markets. For the office market, leasing activity in H1 2018 has surpassed approximately 20 million sq. ft. with more than 80% of total activity being seen in Delhi-NCR, Mumbai, Bangalore and Hyderabad. There are two key factors propelling growth as per these studies, namely the improved and growing confidence of homebuyers due to policy changes like RERA across most Indian States and also the stability in capital values which has steadily been shifting upwards. This comes despite minor hurdles like increased repo rates by the RBI which will also make home loans more expensive for buyers.