365telugu.com online news,Hyderabad,July 7th, 2021:Residential real estate in Hyderabad continues to register positive growth despite the second wave of the coronavirus pandemic putting acute pressure on housing demand across India.According to the report titled Real Insight (Residential) – April-June (Q2) 2021, average annual value of properties in this southern market increased 5% during the April-June period of 2021. This now makes the Hyderabad market to have the highest average per square foot price for under-construction properties in south.“While the impact of the second wave of the coronavirus pandemic remained largely the same on most markets, some markets showed lesser degrees of vulnerability. This has been reflected in the price growth and new launch numbers recorded in Hyderabad,” says Mani Rangarajan, Group Chief Operating Officer, Housing.com, Makaan.com & PropTiger.com.
Price growth: City-wise break-up:
| City | Average price as on June 30, 2021 (in Rs per square foot) | Annual growth in % |
| Ahmedabad | 3,251 | 5 |
| Bangalore | 5,495 | 4 |
| Chennai | 5,308 | 3 |
| Hyderabad | 5,790 | 5 |
| Kolkata | 4,251 | 2 |
| MMR | 9,475 | No change |
| NCR | 4,337 | 2 |
| Pune | 5,083 | 3 |
| National average | 6,234 | 3 |
Source: Real Insight: Q2-2021
Hyderabad only city to record annual, quarterly increase in launches; sales numbers also show annual appreciation.Unlike most cities that were covered in Real Insight – Q2CY21, a quarterly analysis of India’s eight prime residential markets by Elara Technologies-owned PropTiger.com, the city also witnessed new supply showing an increase over the previous quarter.A total of 8,811 new units were launched in this southern market, which stood for a 16% sequential rise in new launch numbers. An annual comparison shows new supply was four times of what was seen in the April-June period of 2020. Over 51% of the new units launched in the year were recorded in the over Rs 75-lakh price bracket.
With the sale of 2,429 units during Q2, demand also increased by 121% annually while registering a 69% quarterly decline. Prominent localities of Hyderabad West witnessed the most demand, the report points out.Inventory overhang increases as unsold stock swells
Even though the inventory overhang has increased by two months for the city to 27 amid a 42% annual increase in unsold housing stock, Hyderabad continues to have the lowest inventory overhang among India’s prime residential market. As on June 30, builders of the city had an unsold stock consisting of 45,573 units.
Unsold stock: City-wise break-up
| City | Unsold stock on June 30, 2021 | Inventory overhang |
| Ahmedabad | 43,251 | 42 |
| Bangalore | 71,119 | 40 |
| Chennai | 37,478 | 42 |
| Hyderabad | 45,573 | 27 |
| Kolkata | 28,591 | 36 |
| MMR | 253,728 | 64 |
| NCR | 103,269 | 64 |
| Pune | 128,206 | 44 |
| National average | 711,215 | 48 |
Source: Real Insight (Residential) – April-June (Q2) 2021
NOTE: The cities included in PropTiger’s analysis include Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi NCR (Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad) and Mumbai MMR (Boisar, Dombivli, Mumbai, Mazagaon, Panvel, Thane West), and Pune.