Hyderabad Residential June 2019 Marketbeats
HYDERABAD RESIDENTIAL JUNE 2019 MARKETBEATS 90% 82% 28% SHARE OF NEW LAUNCHES IN SHARE OF MID SEGMENT IN DECREASE IN LAUNCHES WESTERN QUADRANT(Q2 2019) NEW LAUNCHES (Q2 2019) (Q- O - Q) HIGHLIGHTS RENTAL VALUES AS OF Q2 2019* Larger projects are awaiting approvals, decline in Average Quoted QoQ YoY Change Short term Submarket new launches is temporary Rent (INR/Month) Change (%) (%) outlook Unit launches were recorded at 3300 units, a 28% q-o-q decline with the quarter coinciding High-end segment with the general elections. Developers were thereafter in a wait-and-watch mode for favorable Banjara Hills 58,000-1,50,000 0% 0% policy announcements in the proposed budget by the new government. In addition, some Madhapur, Gachibowli 35,000-70,000 0% 0% larger projects were also awaiting environmental clearance. Meanwhile, developers are Kukatpally 20,000-40,000 0% 2% focused on completing existing projects which are in advanced stages of construction. Mid- Himayathnagar 20,000-36,000 0% 0% segment accounted for around 80% of the new launches during the quarter, spread across Mid segment established and upcoming residential corridors of Kondapur, Nallagandla, Mokila and Kokapet. We expect new launches to pick up over the next 6-12 months as approvals for Banjara Hills 22,000-30,000 0% 0% larger projects gain pace. For now, a total of 2500-3000 units are scheduled for launch in H2 Madhapur, Gachibowli 18,000-27,500 0% 7% 2019. New projects by prominent developers such as Aparna Constructions, Sumadhura Kukatpally 14,500-22,500 0% 10% Group and Vasavi Group are likely in the short term.
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