The IT stronghold has the lowest level of unsold inventory across the eight prime residential markets
Hyderabad: After a slowdown in April, the residential market of Hyderabad saw a modest improvement in the ensuing months of Q1 (May and June) 2020-21. Localities, such as Narsingi, Kokapet, Gachibowli, Patancheru and Bachupally, bordering the IT corridors accounted for about 70 per cent of the property enquiries and transactions.
Bigger residential formats including 3 BHK units priced within Rs 50-70 lakh budget and independent houses pegged at Rs 80 lakh to Rs 1 crore remained the focus segments, according to 99acres.com.
Nizampet in the West also witnessed traction from the homebuyer community. Proximity to the Outer Ring Road (ORR) and budget-friendly residential stock tagged at around Rs 3,800 per sq ft drove the market demand. Kondapur and Nagole saw around three per cent growth in the capital prices, quarter-on-quarter. Proximity to HITEC City boosted the average prices in Kondapur. Nagole in the East gained popularity due to the availability of low-cost units and metro connectivity via Blue Line. Gachibowli, Kondapur, Manikonda and Kukatpally hold the maximum unsold stock.
Average rentals in Hyderabad increased marginally by one per cent, year-on-year. HITEC City, Attapur and Banjara Hills remained popular among tenants and recorded a 5-6 per cent hike in their average yearly rents. Though proximity to Gachibowli fueled demand in Attapur, the premium locales of Banjara Hills and HITEC City were preferred owing to their commercial significance and the presence of IT/ITeS firms.
Despite the stress caused by the coronavirus pandemic on housing sales and new supply, property prices have continued to move upwards in Hyderabad during the April-June period of 2020, according to PropTiger. During the period, builders sold 1,099 homes. Given higher prices over the last couple of years, more than 80 per cent of the new launches were priced at over Rs 1 crore with 2BHK/3BHK accounting for over 90 per cent of the new supply.
�Unlike most other housing markets, price growth in Hyderabad has been significant in the past few years. Demand decline is largely temporary and is due to the economic uncertainty but will revive over the next few quarters. In fact, Hyderabad�s commercial market has performed well over the last couple of years and residential demand tends to lag commercial supply absorption. While we will see new launches this year, volumes may not be comparable to prior years. Prices may continue to expand albeit not at the same pace as over the last few years,� says Mani Rangarajan, Group COO, Housing.com, Makaan.com & PropTiger.com.
Unlike most other markets where price growth has remained stagnant, Hyderabad residential prices increased seven per cent over the last year with weighted average prices at Rs 5,505 per sq ft.
India�s pharmaceutical capital and an IT stronghold currently has the lowest level of unsold inventory across the eight prime residential markets at 32,068 units or 19 months overhang. Unsold inventory declined by 20 per cent and represented just four per cent of the 7,38,336 unsold units across India�s eight prime residential markets.
When infected people use elevators, they probably do leave some of their germs behind. Wear a mask and wash hands to lower your risk.
For people who live or work in tall buildings, taking an elevator feels riskier in the time of coronavirus. Even if we can avoid riding the elevator with other people, are we still riding with the germs they left behind?
"Elevators are tricky," said Linsey Marr, an aerosol scientist at Virginia Tech. �It really depends on the elevator."
Most elevators aren�t big enough to allow people to stay six feet apart, so there�s a chance that infected passengers could transmit the virus, particularly if they are unmasked and are coughing, talking or just came in from a jog and are breathing heavily.
But even if you�re riding the elevator alone, there are other ways you might catch the coronavirus, although the risk is low. Elevator buttons and side rails are a potential risk if your hands become contaminated and you touch your face. And what about the elevator air? If you step into an elevator after an infected person has been riding in it, can you breathe in floating germs?
It is quite evident that the global economy has already entered into a great recession. Super power like Italy, America will be worst affected. Almost all the industries-Travel and Tourism, Automobile, White Goods, IT, Retail etc are suffering huge losses and there is no ray of hope soon.
Amid all these heart wrenching news, there is a brighter side of it for India, specially Indian Real Estate market.
As the whole world seems to have lost control, India is doing far better and has managed to contain the pandemic so far.
Please Share it with all the concerned people in the real estate Industry.👍🏻👍🏻
Rajesh Arora , Chairman, TAG. CORP.
I do not know much about these experts.
But I know for sure that they do not know anything abou t the value of human motivation and determined efforts.
If experts were to be believed, after the total destruction in 2nd World War Japan had NO future. BUT the same Japan in just 3 decades or so, made US cry at the market place.
If the experts were to be believed, Israel should have been wiped out from the world map by the Arabs, but the fact is different.
As per the rules of Aerodynamics, the Bumble Bee can NOT fly. But it flies, because it does not know the rules of Aerodynamics.
If the experts were to be believed, we should have been no where in 83 Cricket World Cup.
If the experts were to be believed Wilma Rudolf, the first American lady to win 4 Olympic Gold in Athletics , should not have been in a position to walk without braces, no question of running.
If the experts were to be believed Arunima Sinha can hardly lead a normal life. But she climbed the Mount Everest.
The corona crisis is no different. I do not have any doubt that, We will defeat the Corona hands down and The Indian Economy will bounce back in a great manner.
Ratan Tata , Chairman, Tata Group