Hyderabad reportedly sees the maximum sale of new homes in south India

According to the latest report by PropTiger, an online real estate brokerage company, Hyderabad city has witnessed the maximum sale of new homes in South India.  

The report had stated that sales in the city reached 35,372 units, followed by Bengaluru at 30,470 and Chennai at 14,100, respectively.  

Tellapur, Gundlapochampally, Kollur, Puppalaguda and Kokapet were the most preferred localities among homebuyers.  

The prices of new homes have grown from Rs. 5,900 to Rs. 6,100 per square feet to Rs. 6,130 to Rs. 6,330 per square feet. 

More than 50% of the units sold were 3 BHK plots, followed by 2 BHK plots at 41%. 

The group CFO of Housing.com, PropTiger.com and Makaan.com, Vikas Wadhawan, said, "Despite the challenging global environment, Hyderabad’s real estate market has shown remarkable growth with a significant increase of 59% year-on-year in sales and 70% year-on-year in new home launches." 

He also said that this growth has surpassed its southern counterparts making Hyderabad a perfect example of a thriving residential market.