30 lakh units are expected to be launched in 3 years.
The Hyderabad market is continuing its boom in real estate. Prominent real estate agency CBRE, in its report, has maintained that at least 1.30 lakh housing units will be launched in the city during the next three years.
The expansion of the city technologically and industrially would be the catalyst for the growth, the report said.
Most importantly, the development of real estate in Western Hyderabad would be more, the CBRE report said comparatively. It mentioned that Hyderabad West has become the nucleus for the development of mid-segment, high-end, and premium categories of houses. At the same time, the micromarkets in Hyderabad (north, south, and east) would attract customers from the mid-segment.
The central Hyderabad would sustain its demand for high-end and premium segments of the houses, the report opined.
The buyers are principally inclined to buy houses in the price range of Rs 45 lakh to Rs 1.5 crore. The increasing land prices, coupled with growth in development expenses, would push up the prices of houses further, the report estimated.
The developers are ready to launch their projects in the crucial micro-markets, adding that inflation would affect delivery timelines and maintenance of the projects.
In the office sector, the report estimates that investment-grade business parks will grow to the tune of 35–38 million square feet by 2025.
