Hyderabad sees 50% growth in real estate sales in FY 2022–2023

Image: Telangana Today

Hyderabad has recorded 50% growth in the total value of real estate sales in FY 2022–2023 which is from April 1, 2022, to March 31, 2023, says a report by real estate consultant Anarock.

With around 3.79 lakh units sold in the top seven cities, FY23 set a new record for the greatest sales volume, up 36% from the year before. Residential real estate of Rs 3.47 lakh crore was sold throughout the year, which is 48% more than in FY22. Mumbai Metropolitan Region (MMR) was in first place with the biggest sales value and volume share; 48% of the total units sold during the fiscal year were in MMR, accounting for 30% of the region’s sales value.

According to Telangana Today “The uptrend in luxury housing is the result of overall improved homeownership sentiment, improved earning potential, and the desire for homes that are technologically equipped and offer a convenience-driven lifestyle and pride of ownership,” says Puri.

Hyderabad is now the second-highest contributor to the sales value, behind Pune, as a result of the increase in sales volume and price increases.

Especially since the pandemic forced consumers to reconsider their housing options, luxury real estate has increased in popularity. The desire for technologically advanced houses that meet every requirement for a convenience-driven lifestyle and sense of ownership has grown in addition to the demand for greater living spaces.

In terms of the absorption of luxury homes, MMR, NCR, and Bengaluru have taken the lead, but Pune is another city to keep an eye on. A 9% proportion of the luxury category was reported, up from a little percentage in previous years, even though it had the biggest rise in value terms.

Hyderabad real estate sales

Hyderabad records 50 per cent growth in real estate sales in FY 2022-23 Hyderabad‘s thriving economy, coupled with its rich cultural heritage, makes it one of the most sought-after cities for real estate investments, Jithender Rao Kodanti tweeted.

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