Real estate is booming in the suburbs of Hyderabad, with new residential projects being launched mostly on the outskirts rather than the main city. Of the 30,340 homes launched in Hyderabad during the 2020-21 financial year, around 45 per cent are being developed in the outer areas. Medchal, Miyapur, Nizampet, Shamshabad, Kokapet, Patancheru and Tellapur are some of the favourite suburbs. Of the total 18,460 units in FY19, about 35 per cent were launched in the suburbs, according to Anarock Property Consultants report.
Of 1.49 lakh houses launched across seven major cities in the country in the 2020-21 financial year (April 2020 to March 2021), 58 per cent of them started in the suburbs of respective cities. Similarly, 53 per cent of the 2.07 lakh units started in FY20 and 51 per cent of 2.29 lakh houses launched in FY19, were launched in the suburbs. Pune topped the list of project launches in the suburbs, followed by Kolkata. In FY21, around 29,950 houses were started in Pune, of which 76 per cent were in Mulshi, Pirangut, Dhound, Kamshet, Rawate, Chakan, Chikhali, Wadgaon Budruk, Talegaon Dabhade and Undri suburbs. Of 39,210 houses launched in FY19, the share of projects launched in the city outskirts is 62 per cent. While 4,250 homes were launched in Kolkata, only 26 per cent of the units were launched in Barasat, Barakpur, Serampore, Garia and Howrah.
While 34,620 units were launched in Mumbai in FY21, 67 per cent of the houses were launched in Panvel, Palghar, Vasai, Virar, Badlapur, Bhiwandi and Dombivli areas. Their share in FY19, was 60 per cent.
– 57 per cent of the 19,090 households in NCR are on the Sohna, Greater Noida West and Yamuna Expressways. These areas accounted for 49 per cent of the total 29,500 units in FY19.
– Out of 10,110 units in Chennai, 54 per cent were taken up in Poonamallee, Avadi, Vandalur, Sholinagnalur, Guduvancheri and Chengalpattu areas. Of the 16,130 units in FY19, 44 per cent are in the Chennai sub-urbs.
– Around 46 per cent of the 20,520 houses in Bengaluru started on Chandapura-Anekal Road, Sarjapura, Yelahanaka, Devanahalli, and Sarjapur-Attibel Road among others. Of the 36,620 households in FY19, the suburbs accounted for 37 percent.
The preferences of home buyers have changed since Corona pandemic. Customers who preferred walk-to-work housing projects in the past, are now interested in buying spacious, greener living quarters and affordable houses in areas with less air and noise pollution. Anuj Puri, chairman, Anarock Property Consultants, said the home buyers are preferring the projects with facilities such as work-from-home, e-school and health care. Developers with landbanks in the suburbs were suggested to start their new ventures. With the construction of residential complexes in the suburbs, the pressure will reduce on the main city. Connectivity between the main city and the suburbs will increase with infrastructure such as the metro rail and the Outer Ring Road. He also said that some companies were planning to establish their offices closer to the homes of employees in the suburbs.
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