Real estate has been a standout performer globally ever since the pandemic. In spite of all the setbacks, the sector has continued to soldier on, delivering solid numbers. The Indian realty sector has performed no less than its global counterparts. Hyderabad, Mumbai, Pune, Bangalore and Delhi have all recorded positive numbers when it comes to real estate.
Hyderabad, in particular, has been one of the top-performing real estate investment hubs in India. The IT hub witnessed a 150 per cent growth year-on-year (YoY) between January and June, 2021 (2021 H1). According to Knight Frank India, an international global property consultant, the city recorded 1 278 per cent YoY growth when it came to new launches. The presence of notable real estate developers like Modi Buildersand Aurobindo Realty has been a bonus for the City of Pearls. The ability of such developers to deliver premium homes at affordable rates has been instrumental in attracting potential buyers.
The availability of gated communities, luxurious open plots, villas, farm houses and apartments in prime locations has turned Hyderabad into a real estate investment hub. Even Non-Resident Indians (NRIs) have turned their attention to the Hyderabad realty market as they look for new investment avenues. Modi Builders, a real estate company in Hyderabad, is one of the best developers when it comes to premium houses. Their projects are located at prime locations in and around Hyderabad and offer the best value for money. One of their projects named Elegance, is a great example. Located in Kukatpally, Elegance has all the makings of a state-of-the-art residential project. In fact, Kukatpally is one of the few areas in Hyderabad that has witnessed a record growth in residential sales in 2021 H1.
The pent-up demand for residential real estate is now being released which has resulted in sales going through the roof. In fact, a large percentage of the total sales has been taken up by premium homes which are selling like hot cakes. Luxury residential projects in Hyderabad have been a hit with new home buyers changing lifestyles. Moreover, the adoption of work from home (WFH) rules has pushed home buyers to go for bigger apartments which offer ample space for such activities.
Achieving a 100 plus YoY growth is no mean feat. Puneet Kumar, VP, Sales and Marketing, Aurobindo Realty, attributes HyderabadÂs growing fortunes to three things Â infrastructure, people and environment. ÂThere is an increased interest among people for gated communities than standalone apartments and individual houses,Â he adds. If current trends are anything to go by, developers like Modi Builders stand to earn big as their premium apartments in Hyderabad will always attract potential buyers.