Hyderabad: Hyderabad’s real estate sector witnessed impressive growth in comparison to 7 other metro cities of the country. The sector has witnessed an increase in the sales of flats and new units.
In the wake of the Covid-19 pandemic, the real estate sector throughout the country had declined. However, according to a JLL report, Hyderabad Real Estate has made notable progress.
According to the report, the Real Estate witnessed a 51% increase in its sales of Flats in the quarter from October to December. The city of Pune is occupying first place with 3323 units (147% increase) while Hyderabad with 3570 (68%) is occupying second place.
The negative impact caused due to Covid-19 pandemic has badly affected the Real Estate sector in the country. It is expected that the sector would witness an upward trend after the un-lock. Hyderabad city, in comparison to other cities, is making rapid progress in this sector.
During the last quarter, the sector witnessed the commencement of work on 26,785 new residential units. This is 40% more in comparison to other cities. More flats were sold in Manikonda Jagir, Hafeezpet, Kondapur, LB Nagar, and Kompally.
“A big increase is witnessed in the sales of the residential sector during October, November, and December. It is expected that the sector would record more development in the year 2021”, the survey says. “Beside Pune and Hyderabad, as per the report, Chennai occupies 3rd place with 59% increase, Bangalore 4th place with 46%, Delhi 5th with 43%, Mumbai 6th with 22% and Kolkatta 7th with 12 % increase”, the report concludes.