Hyderabad’s thriving economy and rich cultural heritage make it one of the most preferred cities for real estate investment.
Published Date – 17 May 2023, 07:00 AM
Hyderabad: According to a report by real estate consultant Anarock, Hyderabad has witnessed a 50 per cent increase in the total value of homes sold during FY23 (April 1, 2022 to March 31, 2023) as compared to the previous year. This surge in sales volume and price growth has made Hyderabad the second-largest contributor to sales value after Pune.
The city witnessed a 10 per cent growth in sales by value during FY23, while sales by units witnessed a 13 per cent growth. However, what is even more interesting is the significant growth in luxury housing sales, which was witnessed across seven metropolitan cities including Hyderabad, according to Anarock Group. “FY23 set a new record for the highest ever sales volume across the top seven cities, with nearly 3.79 lakh units sold – a 36 per cent growth over the previous year,” said Anuj Puri, Chairman, Anarock.
Residential real estate worth Rs 3.47 lakh crore was sold this year, up 48 per cent over FY22. He said the Mumbai Metropolitan Region (MMR) led with the largest share in both sales value and volume, with 30 per cent of the total units sold during the fiscal year being in MMR, with the value of this sold stock being Rs 1.67 lakh crore, accounting for 48 per cent of the sales value share.
As the pandemic has reshaped the world, homebuyers are reimagining their housing options, and this has led to a renewed interest in luxury housing. Hyderabad has been at the forefront of this trend, with a growing number of people opting for homes that are future-proof in terms of size, lifestyle, and resale value appreciation.
“The upward trend in luxury housing is a result of overall improved home ownership sentiment, improved income potential, and the desire for homes that are technologically equipped and offer a convenience-driven lifestyle and pride of ownership,” says Puri.
Hyderabad’s thriving economy, coupled with its rich cultural heritage, makes it one of the most sought-after cities for real estate investment. With a growing IT industry, the city has numerous employment opportunities and has become a hub for startups. The proactive policies of the state government have encouraged investors to look towards Hyderabad for profitable real estate ventures.
