Hyderabad: Our brightest spot of FY 2020-21
Our comeback in the residential sector was remarkable and we believe there are multiple reasons for it: having the right projects in the right locations at the right prices, customers continuing to trust our quality and service, our focused marketing campaigns, the high quality of our sales team and all-time low-interest rates, all played a decisive part in nudging customers who were waiting for fair winds, to finally decide to buy a home. What started as one of the dullest quarters we’ve ever had, rallied around, and turned into two of our best quarters for the residential business.
One of the best performing projects was Brigade Citadel. To put things in perspective, we managed to complete the sale of more than half of our units in the pre-launch phase alone, with absolutely no marketing activity, leading to record numbers in both, the market and Brigade. We have maintained this momentum and continue to receive great reviews.
This is our second offering in Hyderabad, the first being Brigade at No. 7, which also received a good response and was handed over to the RWA earlier this year. The overwhelming response we have received from these two projects has laid the groundwork for us to expand operations in Hyderabad.
The city’s resilience towards fluctuating market conditions is another factor that weighs into our plans to further our footprint here. Additionally, according to global property consultant JLL India, Hyderabad has emerged as the world’s most dynamic city, performing better on socio-economic and commercial real estate parameters.
This can be attributed to the state government’s focus on business-friendly policies and high-quality infrastructure, which has been beneficial to the city as these reforms attract investors within and outside India. This, in turn, has boosted investment into real estate, making it a desirable market for developers. Furthermore, the upswing in the IT sector, heralded by the development of HITEC City, has caused IT companies to look towards Hyderabad as a viable option to set up a business. This has increased employment opportunities and encouraged migration to the city, resulting in more housing projects to cater to the growing IT workforce. Not to mention, the city’s efforts towards a greener tomorrow have earned it the title ‘Tree City of the World’ by the Arbor Day Foundation and the Food and Agriculture Organisation (FAO). It is the only city from India being recognized along with 51 other cities globally to grow and maintain urban forests.
These factors, in addition to a myriad more, have put Hyderabad on our radar as a market worth exploring. We are one of the leading property developers in South India, having a strong presence in Bengaluru and Chennai, and we now look to establish Brigade as the preferred developer in Hyderabad as well.
“ The overwhelming response we have received, from these two projects has laid the groundwork for us to expand operations in Hyderabad. ”