News release

Hyderabad saw maximum sales in the INR 1 cr to INR 1.5 cr category

New launches increased by 24% Q-o-Q in Q2 2022

July 13, 2022

Arundhati Bakshi Dighe

+91 98193 90900

Hyderabad, 13th July 2022: Hyderabad recorded robust residential sales as it saw the highest quarterly sales since Q2 2008. It also witnessed the highest quarterly launches since 2008. New launches increased by 24% Q-o-Q in Q2 2022 as many prominent developers expanded their footprint in the western suburbs. Sales were up by 38% on a Q-o-Q basis. In H1 2022, Hyderabad saw sales growth of 39% as compared to H1 2021.

“Maximum sales in Hyderabad were generated in the Western suburbs submarket at Tellapur, Nallagandla, and Kondapur. One of the pertinent trends to note is that majority of the sales were recorded in residential apartment units priced between INR 1 crore-INR 1.5 crores. In H1 2022, Hyderabad saw sales growth of 39% as compared to H1 2021 as 9549 residential apartment units were sold during this period. Moreover, Hyderabad saw the highest quarterly sales since Q2 2008” said Sandip Patnaik, Managing Director, Telangana, and Andhra Pradesh, JLL.

Healthy offtake of residential apartments in Q2 2022

The residential market recorded sales of over 53,000 units in Q2 2022 which is an increase of 171% Y-o-Y as compared to Q2 2021 across the top 7 cities. This demonstrates the rising demand due to containment of the pandemic and buyer confidence coming back to the market. On a sequential basis, sales increased by 3% during the quarter. Appreciation in residential prices due to rising input costs and interest rates led to almost flat sequential growth in Q2 2022. Mumbai is the largest contributor to sales (23%) followed by Bengaluru with 21% and Delhi NCR with 19% of the overall sales. In terms of Q-o-Q sales growth in Q2 2022, Hyderabad witnessed the highest growth (38%) amongst all cities under consideration. Moreover, it witnessed sales growth of 75% Y-o-Y in Q2 2022 as the units sold increased from 3,157 units in Q2 2021 to 5,537 in Q2 2022. 

Q2 2021 (units) Q1 2022 (units) Q2 2022 (units) Q-o-Q Growth (%) Y-o-Y Growth (%)
Bengaluru 3,500 12,202 11,250 -8% 221%
Chennai 600 3,450 1,553 -55% 159%
Delhi NCR 2,440 8,633 10,076 17% 313%
Hyderbad 3,157 4,012 5,537 38% 75%
Kolkata 578 3,806 3,947 4% 583%
Mumbai 5,821 11,648 12,165 4% 109%
Pune 3,539 8,098 8,704 7% 146%
India 19,635 51,849 53,232 3% 171%
Note: Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai
Data includes only apartments. Rowhouses, villas, and plotted developments are excluded from our analysis.

Source: Real Estate Intelligence Service (REIS), JLL Research

Another 6,013 residential units in the plots and villa category were sold during Q2 2022 across the top seven cities. The majority of the traction was seen in the southern cities of Bengaluru, Chennai, and Hyderabad. 28% of the quarterly sales in the plots and villas segment were contributed by Hyderabad where 1700 residential units were sold in this category.

Strong recovery in sales in H1 2022 over H1 2021

Bengaluru’s share in H1 2022 sales was 22% with 23,452 units sold which is next only to Mumbai.

H1 2021 H1 2022 (units) Growth (%) City (%) share in
H1 2022 sales
Bengaluru 8,716 23,452 169% 22%
Chennai 3,800 5,003 32% 5%
Delhi NCR 7,888 18,709 137% 18%
Hyderbad 6,866 9,549 39% 9%
Kolkata 1,898 7,753 308% 7%
Mumbai 11,600 23,813 105% 23%
Pune 7,219 16,802 133% 16%
India 47,987 105,081 119% 100%
Note: Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai
Data includes only apartments. Rowhouses, villas, and plotted developments are excluded from our analysis.

Source: Real Estate Intelligence Service (REIS), JLL Research
Prices moving northwards

The increase in input costs and the strong demand have caused an appreciation in residential prices with capital values showing a 3-7% Y-o-Y increase in all cities except Hyderabad which showed resilience by clocking double digit price growth over the same period. “Developers have partially passed on the input cost increases which are now reflected in the current residential prices. New launches also entered the market at higher prices. With interest rates in an upcycle, costs for owning a house are likely to increase further. This may cause some short-term deflation in demand but with changing dynamics around home ownership and with interest rates still on the lower side, residential demand is likely to remain on its growth trajectory. Employment opportunities that were created in IT sector and start-ups are driving residential market in Hyderabad. In addition, investment in city’s infrastructure through SRDP programme has opened new residential clusters in north and east part of the city which is contributing in increased residential sales” said Dr. Samantak Das, Chief Economist, and Head Research & REIS, India, JLL.

New launches scale-up

New launches of more than 63,000 units were recorded in Q2 2022, an increase of 6% Q-o-Q and 135% Y-O-Y. Mumbai dominated with a 27% share in the new launches followed by Hyderabad and Pune which contributed 25% and 21% respectively. Quarterly launches were higher on a Q-o-Q basis in Delhi NCR, Hyderabad, Mumbai, and Pune. It saw a declining quarterly trend in Bengaluru, Chennai, and Kolkata. In Hyderabad new launches in the quarter increased by 24% which is next only to Pune in terms of quarterly growth rate.

New project launches expand in Q2 2022
Q2 2021 (units) Q1 2022 (units) Q2 2022 (units) Q-o-Q Growth (%) Y-o-Y Growth (%) % share in Q2 2022
Bengaluru 4,833 13,795 10,000 -28% 107% 16%
Chennai 392 2,403 1,384 -42% 253% 2%
Delhi NCR 1,048 2,576 3,1010 17% 187% 5%
Hyderbad 10,980 12,648 15,697 24% 43% 25%
Kolkata 206 3,216 2,978 -7% 1346% 5%
Mumbai 6,143 16,289 17,505 7% 185% 27%
Pune 3,455 9,380 13,095 40% 279% 21%
India 27,057 60,307 63,669 6% 135% 100%

Around 8,056 units were also launched across the top seven cities of India in the plots and villa segments in Q2 2022. These projects also recorded good responses from the buyers. 20% of the launches in plots and villa segment were contributed by Hyderabad where around 1630 residential units were launched in this category.

Unsold inventory increases by 2.1%;

In Q2 2022, unsold inventory across the seven cities increased by 2.1% on a Q-o-Q basis as new launches outpaced sales. Mumbai, Delhi NCR, and Bengaluru together account for 60% of the unsold stock. An assessment of years to sell (YTS) shows that the expected time to liquidate the stock has declined from 4.2 years in Q1 2022 to 3.6 years in Q2 2022, an indication of robust sales growth.

In Q2 2022, unsold inventory increased in Hyderabad as the new launches outpaced sales in the city and YTS remained the same as compared to the previous quarter.

Analyzing the sales performance as a proportion of total available inventory

Sales penetration -defined as % of apartments sold versus total available inventory is a marker of how markets actually performed on a normalized basis, accounting for varying levels of unsold inventory across all cities. Compared to this metric, the sales penetration for H1 2022 was at an average of 18% at a pan-India level. When looking at individual cities, sales penetration was highest in Pune (28%) with Bengaluru and Kolkata (21%) joint second. Both Pune and Kolkata are smaller markets in absolute sales terms of apartments, but they perform much better on a normalized comparison when sales penetration is considered. Rising inventory levels amid improving sales need to be looked at as well, when analyzing sales performance across cities.


Developers have partially passed on the rising input cost to the buyers and also there has been an increase in interest rates. As a result, there may be some cooling down of sales in the short term. However, successful containment of the pandemic, improved buyer sentiments, and strong fundamentals of the residential market will lead to an upward trajectory in both launches and sales in the medium to long term. Only credible developers, who are customer-centric and possess proven execution capability, as well as quality products, will survive and emerge stronger. 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit