Hyderabad bucks realty downturn in second wave

The Economic Survey - 2021-22, held in Parliament by Finance Minister N. Sitharaman disclosed that Hyderabad has excelled in the realty sector. 

The economic survey also proclaimed that Hyderabad was one of the few big cities that jolted the trend despite COVID-19's impact. 

Housing transactions in Hyderabad that dropped by -37.6% during the first wave in April-June 2020, rose by 37.9% during the second wave in the April-June period in 2021. 

The housing price index, too, indicated an improvement with a 21.3% rise in April-June 2021 in comparison to the 12.3% rise in April-June 2020. 

The second wave enrolled more transactions in comparison to the first in Mumbai, Pune, Noida, Bengaluru, etc  

The housing sector is among the largest employers in the unorganized sector of India and an upturn or a downturn has a surging impact on industrial sectors. 

The policy document captioned “This has allowed the consumption and production of steel and cement consumption to revert to pre-COVID levels. Statistics provided by the Reserve Bank of India and leading real estate companies to show significant revival in the Indian residential real market in 2021 in terms of growth in sales, prices and new launches."