Real Estate in Hyderabad; a throwback to 2021!
Winprop Projects wishes all our dear readers a happy new year! 2022 has arrived with a lot of exciting new opportunities for everyone. The real estate sector, too, is eager to witness new trends and exciting changes in the trajectory this year.
While we prepare to welcome everything new, it is equally important to take stock of all that took place in 2021 and how it has transformed the real estate sector. Nothing helps us adapt better like learning from our experiences and observations.
Hyderabad Remains A Top Player In Recovering From The Pandemic Impact
With the pandemic and lockdowns making their presence felt even in 2021, the real estate sector in the city was prepared to face the many challenges that could have come in its way.
However, the sector managed to stand tall against all odds. Hyderabad even emerged as a top player among other cities in terms of recovering from the impact of the pandemic and lockdowns.
Housing remained largely affordable and constant innovations in infrastructure attracted steady real estate investment, as well as more project launches in the city. “It has been a largely positive year for the city, which leads in new project launches amongst Indian cities, with an increase of 19 percent in 2021 compared to the previous year. In terms of new launches, a growth of 189 percent year-on-year was recorded in Q3, a 40 percent increase compared to Q2,” reports Free Press Journal.
Key Aspects Of Hyderabad’s Growth In 2021
The year 2021 witnessed a boom in townships. For example, Kollur received a facelift and is well on its way to become a model township. The areas along the Outer Ring Road (ORR) in the western and eastern quadrants are already taken up by developers who have multiple integrated township projects in their pipeline.
Apart from townships, numerous new project launches took place in Gachibowli, Kompally, Medchal, Tellapur, Nallagandla, etc. Medtronic’s expanded facility named Medtronic Engineering & Innovation Centre (MEIC), which is its biggest research and development centre outside the US, opened at the BSR Tech Park at Nanakramguda. Google Inc’s biggest campus outside its headquarters in the US - its first company-owned campus in Asia, too, was launched in Nanakramguda.
The city also witnessed a tremendous growth in Grade A Office space, which is expected to be expedited at 4 percent per year.
What Can We Expect In 2022?
Free Press Journal further states that Hyderabad “had the lowest inventory overhang of 25 months compared to 44 months in the top eight cities, due to the high sales numbers. This is a strong indicator that property demand in Hyderabad will continue to rise in 2022.”
The brand new year indeed looks promising for the real estate sector!