Hyderabad sees surge in home realty

BENGALURU: Hyderabad is experiencing a phenomenal spurt in residential real estate activity with appreciating capital values and increase in retail and office space absorption during 2014-18.According to Anarock Property Consultants, unsold inventory fell by 25% from 2016, reaching around 27,000 units by the first quarter of 2018, indicating a strong comeback in the market.Anuj Puri, chairman, Anarock, said, “Hyderabad scores far better than many other metros in terms of unsold stock pile-up situation.”The study found 8,550 units absorbed in the first half of 2018, a 26% jump over last year, with launches also seeing a significant spike by builders looking to increase their presence in Hyderabad.“Hyderabad’s residential demand has witnessed a significant increase due to rising employment opportunities and positive market outlook, which were just marginally affected by policy changes including demonetisation, the Real Estate (Regulation and Development) Act, 2016, and the goods and services tax,” said Puri.Southern cities have been performing well both in terms of sales and unsold stocks as compared to other bigger markets, with Bengaluru and Hyderabad the most buoyant. “Hyderabad has always been a key focus geography for us,” said Ashish R Puravankara, managing director, Puravankara.

from The Economic Times https://ift.tt/2ojRI8Z