Monthly Watch: Home Sales Up 63% In Hyderabad; New Launches Double

Continuing its march towards complete recovery, property markets in Hyderabad have shown signs of further improvement. According to a PropTiger DataLabs report for the month of January, new launches in the City of Nizams doubles when compared to December. “Majority of the new launches were witnessed in the mid-and high-end segments around prominent localities of Manikonda, Kokapet and Patancheru,” says the report.

Home sales number, too, went significantly up, with a 63 per cent increase over December figures. On an annual basis, however, home sales dipped six per cent.

Property prices, on the other hand, increased five per cent in January when compared to the same month last year—there has been no monthly increase in prices. It is worth mention here that Hyderabad is the among a few major cities in India where property prices have increased in the past. According to the report, the affordable housing segment has seen the highest annual increase in prices. Spike of prices in the luxury segment has been less prominent in comparison.

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Localities that contributed the highest to the monthly homes sales in Hyderabad include Manikonda, Kompally, Kondapur, Kukatpally and Kokapet, in that order. These localities offer largely offer premium properties, with prices ranging from Rs 3,400 and Rs 6,500 per sqft. At Kukatpally, for instance, property prices vary from Rs 6,350 and Rs 6,550 per sqft. Kondapur, Kokapet and Manikonda offer properties in the similar range. Property is comparatively cheaper at Kompally, with prices ranging from Rs 3,250 and 3,400 per sqft.

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The report shows that the mid-segment saw the highest number of new launches in January.

Developers who launched new projects in Hyderabad include APR Group, My Home, Radhika Projects, Rajapushpa and The Antriksh Group. At APR Group's villa project Praveens Luxuria at Patancheru, 549 units will be sold at a quoted price of Rs 3,400 per sqft. Rajapurusha has launched its new project Regalia at Kokapet and will be offer 491 apartment units at Rs 4,200 per sqft. At Manikonda, My Home has launched its new project Avatar and will be offering 270 apartment units at Rs 4,200 per sqft. Govindrajs IHITA is the new offering by Radhika Projects at Kompally and the 252 units here will be sold at Rs 3,999 per sqft. The Antriksh Group has launched its new projects The Jade Greens at Shadnagar which has 234 units priced at Rs 2,500 per sqft.