Hyderabad registers all-round growth in office, residential segments

Hyderabad: Hyderabad registered the second highest transactions in the office space with 0.19 mn sq m (2.1 mn sq ft) while new completions were at 0.20 mn sq m (2.2 mn sq ft) during Q3 2021. The cumulative office transactions for the first nine months of 2021 recorded at 0.33 mn sq m (3.7 mn […]

Hyderabad: Hyderabad registered the second highest transactions in the office space with 0.19 mn sq m (2.1 mn sq ft) while new completions were at 0.20 mn sq m (2.2 mn sq ft) during Q3 2021. The cumulative office transactions for the first nine months of 2021 recorded at 0.33 mn sq m (3.7 mn sq ft).

Knight Frank India, in its quarterly report – India Real Estate Update – Q3 2021, showed that Hyderabad’s residential sales and new launches witnessed growth of 272 per cent and 650 per cent YoY respectively in Q3 2021.

The city recorded sales of 5,987 residential units and 9,256 residential units were launched during this period. Weighted average prices in Hyderabad market increased marginally on a YoY basis during the quarter.

“Hyderabad has witnessed remarkable growth in office transactions on the back of robust demand by the IT and manufacturing sector. Strong infrastructure development and socio-economic friendly government policies have been a big boost for the market,” said Shishir Baijal, chairman and managing director, Knight Frank India.

Rajani Sinha, chief economist & national director – Research, Knight Frank India said, “Hyderabad residential market has seen a significant YoY growth in the residential sales in Q3 2021, as most end users viewed this to be a good time to enter the property market with low home loan rates as well as improvement in overall affordability. As the economy improves, we can expect further strengthening of the demand trends.”

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