Hyderabad: Everything is set to become a bright diwali for the Hyderabad property market, with buyers lined up for this new home celebration season.
Continuing the positive line set out in about two months ago – after a significant decline in the case of Covid-19 – industrial people said that housing sales were on rolls, with many sales between 100 and 120 units a month (on average).
Fast moving segment: Rs 1 Crore to RS 1.2 Crore Apartments.
There is also enough request for the villa and plot, add the developer.
Driven by this trend many large construction companies hope to launch a new housing project, as soon as Diwali.
“We hope to announce two projects in November-December.
That’s because we have run out of inventory and our provincia in Narsingi is the only available.
It also sells quickly,” said P Sreenivas Reddy, Executive Director of the Rajapaphpa property.
In addition to housing, office space also gets extraordinary traction, he said.
The growth of commercial and retail sectors, said experts, is the reason for housing sales taking steps.
“Our tellapur project – Ankura (Villas) and tridasa (apartment) – almost completely sold out; like Bhooja in Madhapur.
And this is without promotional activities.
This is an indication of a healthy market,” said Shyam Rao with Jupal, Managing Director, home construction I.
As with the Bengaluru-based prestige group that sells around 50 units in the city in the last 30 days.
“We hope to start our Kokapet project somewhere around December-January.
Although our focus is entering the Mumbai market now, we have a big plan for Hyderabad too,” said R Suresh Kumar, senior vice president (business operations), prestige group.