Hyderabad leads in new residential launches for Q4 of 2021-22

Hyderabad is now leading the new housing launches in the state. In 2021, the state witnessed the registration of 36,367 new launches, followed by Pune, which was second with 24,572 project launches. From 1.39 lakh new projects launched in major cities, including Delhi, Mumbai, Pune, Bengaluru, Chennai and Kolkata, Hyderabad accounted for a majority of those registrations. According to Jones Lang LaSalle (JLL), Hyderabad continued to dominate new launches with a 26% share of the total launches, followed by Pune, Bengaluru and Mumbai with 18%, 16% and 16%, respectively. Sales have improved from 9,926 in 2020 to 15,787 in 2021. However, housing sales in the city remained almost stable at 4,503 units after significant growth in the last quarter. Mid-segment and upper-mid segment projects attracted maximum traction over the quarter. The state expects sales growth in the coming quarters. Capital values increased marginally across all submarkets during the quarter but are expected to remain stable in the short-medium term owing to a substantial unsold inventory. Affordable and mid-segment housing projects are expected to drive the sales momentum in Hyderabad, especially in the Northern and Western submarkets. The builders include Cybercity Builders and Developers, Vaishnavi Infracon and Akrithi Housing. Most of the apartments are in Kompally, Medchal, Bachupally, Alwal, Bolaram, Shamirpet, Manikonda, Tellapur, Nanakramguda, Kukatpally, Miyapur and Nizampet. According to a report, the market share of established and credible developers are expected to increase with buying preference skewed on offerings from developers, having a track record, financial strength and execution capability. Renewed buyers witnessed a recovery in the housing market in Q4 2021, which recorded a strong quantum of sales compared to the same period last year. Image Source Also read: Property registrations in Mumbai cross one lakh mark in a single year