The growth of the real estate industry in Hyderabad can be attributed to various factors, including the city’s first-class infrastructure, thriving IT industry, and a growing population of young professionals.
Updated – March 22, 2023, 10:45 AM
Hyderabad: Hyderabad has once again proved its worth in the real estate market by securing the top third position in both residential property sales and new launches in the calendar year 2022.
According to a report by leading real estate consultancy PropEquity, Hyderabad outpaced other cities including Bengaluru, Mumbai, Navi Mumbai and Chennai with the launch of 66,683 new units. The supply share stood at 13 per cent, indicating a healthy and stable real estate market.
Thane stood first with 81,849 new launches and Pune stood second with 69,525 launches.
The report showed that residential property sales in tier-1 cities of the country were over 250 per cent of the levels seen among tier 2 cities in 2022. Total absorption in tier 1 cities stood at 4.53 lakh units, while tier 2 cities stood at 1.83 lakh units.
“This disparity between metros and tier 2 cities is due to employment opportunities, better infrastructure and better living standards in tier 1 cities,” said Sameer Jasuja, founder and managing director, PropEquity.
The growth of the real estate industry in Hyderabad can be attributed to various factors, including the city’s first-class infrastructure, a thriving IT industry, and a growing population of young professionals. The real estate market in the city is expected to grow even more in the coming years, as there are more projects in the pipeline and buyer demand is rising.