Hyderabad: 142 percent increase in home sales in city

Hyderabad: Among the eight major cities of the country, Hyderabad tops in terms of home. In spite of the coronavirus crisis, the city witnessed the largest number of home sales in the country from 2011 to 2021.

Last year a total of 24312 homes were sold which is a 142% increase compared to the figures of 2020 as per a Knight Frank report.

In 2021 from July to December a total of 12344 homes were sold which is a 135% increase compared to the same period in 2020.

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In the year 2021, an increase of 179 percent was recorded in the construction of homes as a total of 35736 homes were built. The number of homes constructed from July to December was 19024. This is an increase of 126 percent compared to the same period in 2020.

During the second quarter of the financial year, there was an increase of 48% of homes between the cost ranging from 50 lakh to 1 crore.

Tremendous growth has been witnessed in West Hyderabad’s Kokapet, Patancheru Gopanpally, and Nalgonda.

In addition to the rapid increase in homes, the office space rent also recorded a steep surge. Bengaluru was leading in the country in terms of office space rent but currently, Hyderabad has pushed Bengaluru to second place.

In recent years, many Indian and foreign corporate companies have set up their offices in Hyderabad which led to a steep demand in office spaces.

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