Monthly Watch: Launches Up In Hyderabad

Hyderabad real estate keeps bringing positive news from the sector, which has remained trouble-hit for about three years now.  After the bifurcation of the state of Andhra Pradesh, the city has seen the value of properties increasing, the number of new project launches going up and sales figures improving.

The City of Nizams has bucked the trend when it comes to new project launches in October. According to a PropTiger DataLabs report, 11 new projects were launched in Hyderabad in October. Most of the new projects would be catering to the middle segment.  Year-on-year, too, the number of new launches in Hyderabad has gone up. 

Developers who launched projects in Hyderabad in October include Cybercity, Hallmark Builder, Kranti Group, Janapriya Engineers Syndicate and Unnati Group. 

In September, new launches fell 97 per cent month-on-month.  

Home sales, on the other hand, saw a 24 per cent appreciation over September. On an annual basis too, sales increased 44 per cent. Hitech City, Manikonda, Kukatpally, Nallagandla Gachibowli and Narsingi were the top-five localities of the city, contributing the highest to monthly home sales in that order. These localities offer properties in the middle ranges with prices ranging between Rs 3,900 per sq ft and Rs 4,500 per sq ft.

Sales declined 16 per cent in September.

On the other hand, property prices declined one per cent on a monthly basis in October. However, annually, they increased seven per cent. According to the report, some localities such as Nagole, Bachupally, Madhapur and Kondapur witnessed price appreciation in the range of 12 to 18 per cent.

It is worth mentioning here that Hyderabad stands as an exception when it comes to comes to property price increase. Property prices have remained stagnant in most major cities of the country according to PropTiger DataLabs.