Hyderabad To Add Over 1 Lakh Residential Units In Coming Years

Hyderabad has new launches in the residential sector, fulfilling the growing housing demand year-on-year and connecting the demand-supply gap. 

Around 1.03 lakh units are under construction, and around 16% will finish by 2022, 16% in 2023, 15% in 2024, and 53% after 2024. 

As most launches were in 2020 and 2022, the time period for maximum units under construction is after 2024. About 18,510 units were completed in 2021, and in 2022, 16,480 units will be finished off. 

Hyderabad’s inventory overhang fell to 30 months in 2021 from 52 months back in 2020. Hyderabad's current inventory overhang indicates that the market noticed adequate sales in the year. 

Anarock's research exclaimed that despite Covid-19's second wave's impact in H1 2021 (July-December), around 2.78 lakh units completed across the top seven cities in 2021, against over 2.14 lakh units in 2020. 

"Our data also indicates that 3.85 lakh units are scheduled to be completed across the top seven cities in 2022. Given that the construction activity across most cities was, and will hopefully remain, least impacted during the ongoing third wave, most completions in 2022 may be as per schedule", said Anuj Puri, Chairman, Anarock Group.