Hyderabad: The western corridor areas ranging from Kukatpally to Kondapur and Manikonda to Gachibowli remains the growth engine for Hyderabad’s real estate growth.
Even though many IT offices are not fully open for employees, the demand for real estate in that region continues to remain strong. The western suburbs like Hitec City, Financial District and surrounding areas continue to dominate the new launches space.
As per a report by 99acres.com, the first half of 2021 saw a 250 per cent jump in new launches in the western corridor even though overall new launches remained muted in the July-September quarter of 2021. The report also mentioned that 2BHK and 3BHK units measuring 1,100-1,300 sq ft and 1,500-2,500 sq ft respectively had the highest market share. And areas like Kondapur, Gachibowli, Manikonda, Kukatpally and Madhapur saw an average of 35-50 per cent market share for 2BHK and 3BHK units.
“The mid and the high-income budget segments witnessed the launch of a number of projects in Jul-Sep 2021. Healthy demand from potential buyers helped lift sales that initially witnessed a dip amid resurgence of Covid-19 cases in April 2021,” the report mentioned.