Hyderabad Added 5,550 Units Q2 2018 (April-June), 109% Quarterly Increase
Hyderabad, which has been consistently showing growth patterns in the office space is fast catching up in the residential segment now. The city has added 5,550 units in Q2 2018 (April-June), a quarterly increase of 109 per cent, making it the second top city in the country in terms of percentage growth, following Pune which registered 214 per cent with the launch of 6,900 units.
The city has garnered visibility on the Indian real estate map with its high livability index compared to many other cities. The housing launches only include projects that have been newly launched across the cities in the particular time period and it doesn’t include the completed inventory.
As per Anarock data, there has been more than 350 per cent growth in the number of new units launches in Q2 2018 in the city as against the corresponding quarter in 2017, while housing sales have gone up by 16 per cent over the same period. Data further indicate that the number of the unsold stock has declined from 31,250 units in Q2 2017 to nearly 27,600 units in Q2 2018.
50 per cent increase in new supply was dominated largely by the affordable segment, recording 100 per cent jump as against the preceding quarter. Out of the total new supply, affordable housing (less than Rs 40 lakh) comprised of nearly 46 per cent new units. From according to ‘infrastructure status’ to offering sops for MIG-I and MIG-II homebuyers under Pradhan Mantri Awas Yojana (PMAY), the government’s constant push for this segment is finally beginning to bear the fruits.
The top seven cities (NCR, MMR, Chennai, Bengaluru, Pune, Kolkata and Hyderabad) witnessed new unit launches of around 50,100 units in Q2 2018 as opposed to 33,400 units in Q1 2018.
Residential property prices across the top cities increased by one per cent in Q2 2018 compared to the previous quarter, barring Chennai and Kolkata (where prices remained stagnant). The market continued to be dominated by the affordable and mid-range segments.
About 77 per cent (38,600 units) of unit launches were in the price category of less than Rs 80 lakh. The affordable segment accounted for a whopping 46 per cent share of the total new launches.
Source Link- https://telanganatoday.com/