The Indian real estate industry is slowly finding its feet again after a rocky year. The residential sector has proved itself resilient, continuing its steady recovery in H1 2021. The sector recorded an impressive 75 per cent year-on-year (YoY) growth when it came to sales. Pune led from the front with a 26 per cent share, Mumbai with 19 per cent, followed closely by Hyderabad and Delhi NCR with 18 per cent, respectively.
Hyderabad poses a very interesting case as its real estate sector looks to be the most promising one across India. The city has already witnessed the highest number of launches in the second quarter of 2021. As per an Anarock Property Consultants’ report, close to 8850 units were launched in Hyderabad alone in Q2 2021 as compared to the other top six Indian cities.
Luxurious apartments are being preferred by new home owners as the pandemic has added a new challenge – the work from home (WFH) culture. As, a real estate company in Hyderabad, we are offering premium flats at affordable rates. Many of its projects like Edifice and Elegance are located in suburbs, away from the main city centres, in order to take advantage of the greenery and solitude. These residential projects offer the best facilities in the market and are ideally located and serviced by excellent transport links.
The rush for premium apartments in Hyderabad is also a result of the state introducing a new platform for real estate development. The Telangana State Building Permission Approval & Self Certification System is an integrated platform for seeking approvals for land development and construction through a self-certification system within 21 days. This has made it easier for developers to get the green light for projects without having to go through all the bureaucratic red tape that handicaps most government processes.
An interesting highlight in the report by Anarock is that 63 per cent of the new launches in Hyderabad are in the high-end segment or premium housing, with the remaining 19 per cent in the mid-end segment. This corroborates reports of new home owners preferring luxurious residential projects in Hyderabad instead of mid and low-end tiers. More often than not, the realty sector has witnessed several changes over the past year. While most changes have been temporary, the fad of grabbing luxury homes might just stick around even after the pandemic crisis has been dealt with.