Hyderabad is booming in the real estate sector. Last year, the city looked good in terms of sales of residential units. According to the latest report released by PropTiger.com, Hyderabad has emerged as the second-largest real estate market in the country, with an annual growth rate of 49 percent.
The report titled Real Insight Residential Annual Roundup-2023 has been released after analysing the data in eight major cities of the country. Ahmedabad is in the first position with 51 percent growth, while Bangalore is in the third position with 44 percent growth. Pune with 33 percent, Mumbai with 29 percent, Kolkata with 16 percent, Delhi with 11 percent, and Chennai with 5 percent. Looking at the country as a whole, the annual growth in house sales has been recorded at 33 percent. And Hyderabad’s sales went well in the last two quarters. As many as 14,191 units were sold in Q3 and 20,491 units in Q4. However, Hyderabad is lagging in new launches, as 82,801 houses were launched in 2022 and 76,819 houses were launched in 2023, a decrease of 7 percent. Vikas Wadhawan, Group CFO of Housing.com, Makaan.com, and PropTiger.com, said that despite initial challenges like rising interest rates, rising input costs, and rising real estate prices amid global uncertainties, the real estate sector made exceptional progress last year.
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