Continued demand for houses in West Hyderabad.
In Hyderabad, the preference for the western region continues. This area is leading in housing demand. More areas surrounding the western parts of Hyderabad are the destination for more people in the real estate sector. Along with Gachibowli and Manikonda, Narsingi and Bachupally are also booming, according to the latest Real Insight Residential-January-March 2024 report released by PropTiger.com.
While there is demand in Kompally and Shamirpet in North Hyderabad, Nagol and Uppal in East Hyderabad are on this list. The report revealed that there was a strong demand for the residential market in the first three months of this year in the eight major cities of the country. Sales in terms of value increased by 68 percent to Rs 1.11 lakh crore. Compared to the first three months of 2023, in the first three months of this year, a growth of 249 percent was recorded in Delhi, while an increase of 143 percent was recorded in Hyderabad. If we look at the sales area in Hyderabad, in Q1 of 2023 it was 15 million square feet; it increased to 35 million square feet in Q1 of this year. Also, while sales here were 10,200 units in Q1 2023, sales increased to 14,290 units in Q1 2024, the report said.
