Hyderabad’s real estate market is on the upsurge, and many new projects are coming up with many options for the buyers. The design elements are also increasingly becoming occupier-friendly, with post-pandemic needs incorporated. Work & study from options is plenty! Open kitchen, bigger laundry areas, and spaces for a relaxed movement are in vogue. Homebuyers are also opting increasingly for 3 BHK apartments and exclusive- ‘one-apartment-per-floor’ options in standalone building complexes.
The real estate industry in India is going through a new phase with renewed interest even from those people who earlier never thought about purchasing a home. This is visible in Hyderabad as well. Those home buyers who opted for a 2 BHK apartment, are now inclined to have a bigger, more spacious 3 BHK apartment.
The real estate industry in India is going through a new cycle where the downward cycle has now ended. The city of Hyderabad is no exception, and the new projects are a testimony to corroborate this fact.
Post-pandemic positivity in residential real estate market in Hyderabad- facts & figures
With COVID-19 vaccinations happening all over India, the onslaught of the ongoing pandemic has weakened, and the market is in the upswing. Clearly, anything that goes down eventually goes up again. Hyderabad, fortunately, is still one of the most reasonable and affordable destinations to buy property as compared to the National Capital Region (New Delhi, Gurgaon, Noida belt), Bangalore, or Mumbai.
Dr. Glenn Mueller, a well-known real estate professor has indicated a real estate goes through cycles of Recovery, Expansion, Hyper Supply, and Recession.
Fortunately, Hyderabad is witnessing the ‘Expansion’ with the least amount of ‘inventory overhang’ as compared to all other cities in India. This means that new construction is happening in Hyderabad- both residential as well as commercial sectors. By lowest inventory overhang in Hyderabad, we mean- ‘Months of unsold inventory’ being held by builders in Hyderabad. It gives an estimate of the time it may take to sell all of the current listings of properties in a certain area in Hyderabad. This indicates the overall situation of the real estate market.
As per the inventory overhang yardstick, Hyderabad is leading in housing sales with the lowest inventory overhang of 27 months as of April-Jun 2021. The residential real estate market in Hyderabad is much better than cities like Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi NCR, Mumbai, and Pune. Hyderabad has also emerged as the No. 1 city with annual growth in real-estate appreciation of five percent with average prices hovering at Rs 5,800 per square foot.
Standalone building apartments– a preferred choice in Hyderabad
The market in the ‘standalone building’ segment is clearly even more on the upswing. Homebuyers in Hyderabad are now increasingly opting out of gated-community options, and preferring apartments with standalone buildings being offered by builders. These builders are offering apartments with an attractive proposition of HIGH QUALITY coupled with modern amenities like branded elevators, power back-up DG Gen-sets, parking, and so on.
- There is a new found confidence in the work-from-home mechanism, and professionals like techies have shown extreme adaptability and resilience in delivering on quality work operating in a ‘work from home’ environment
- The lockdowns did not stop construction activities beyond two months, and most of the construction sites are now fully operational across the city of Hyderabad. You have over 100 large-scale gated community construction sites in Hyderabad. The construction sites for ‘standalone building apartments’ on smaller plots are well over 1000 across the city of Hyderabad
- With vaccination drive at its peak, the health and safety concerns among workers and site crews have also dipped considerably
- The ongoing standalone building projects are no longer running on a delayed track. These possession is likely to happen for these well within 18-24 month timeframe considering the bounce back that’s evident
- Residential real estate market in Hyderabad have been on an upsurge since the formation of Telangana in 2014. This has made Hyderabad one of the high growth markets with high quality and ready to occupy residential options across all the regions across the city- be it West, North, South, East of Central zones of Hyderabad
- Availability of good quality construction in Hyderabad will continue to make Hyderabad an attractive place to buy your dream home for 3 BHK home buyers as well as NRIs
- With a diverse range of IT and Service sector companies operating in Hyderabad, the city is all set to diversify due to the excellent availability of diverse talent pool, and business-friendly policies of the State government
Overall, the sun is shining bright on residential real estate market in Hyderabad, with ‘standalone building apartments’ steadily being sought by 3 BHK homebuyers in Hyderabad.
With the high quality of life, the city of Hyderabad offers, homebuyers can be assured of a peaceful and vibrant living experience in the decades ahead.
To quote Nigel Farage- “We shouldn’t measure everything in terms of GDP figures or economics. There is something called quality of life.”
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