Hyderabad sees biggest rise in launch of apartments

Hyderabad: Hyderabad continues its growth momentum in the residential real estate segment, JLL's Residential Market Update for Q4 2021 (October-December 2021) said on Monday. In terms of new project launches in 2021, Hyderabad topped with a 26.1 per cent increase, followed by Pune (17.6), Bengaluru (16.4) and Mumbai with 16.1 per cent increase.

The survey gathered data from Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune regarding apartments. Row houses, villas and plotted developments were excluded. The data showed that residential sales have almost reached the pre-Covid levels in Hyderabad.

It said 15,805 units were sold in 2019, 9,926 in 2020 due to Covid-19 and 15,787 in 2021.

"Improving market sentiment on the back of a recovery in the economy has instilled confidence amongst developers as they strategically launched projects across cities to tap into the demand recovery underway,” the report said.

The top seven cities witnessed launch of 45,383 apartment units in Q4 2021, an increase of 38 per cent. Most of launches were witnessed in Pune (19 per cent) followed by Bengaluru and Hyderabad 17 per cent each.

The residential sector saw sales increase by 72 per cent at 1.28 lakh units sold, it said.