Hyderabad, Aug 18 (Hydnow): In the first quarter of this year (April-June), 5.26 lakh flats were not sold in 9 major cities of the country. It is noteworthy that the share of Hyderabad is 99,989 unsold flats. Hyderabad stands second in the country in terms of the number of flats left unsold in ready-to-build apartments. Thane in Maharashtra topped the list with 1,07,179 unsold flats according to Prop. Equity, a leading website that studies real estate sales in major cities of the country revealed these details.
According to the report, the number of unsold flats in Hyderabad has increased by 5 percent compared to the previous quarter. the website analyzed that due to the ever-increasing prices of flats in the city, middle-class people are moving away from their dream of owning a house.
It has been revealed that the reduction of employees in IT and job insecurity have increased significantly in the recent past, so they are not interested in purchasing. The website analyzed that IT employees are also reluctant to buy flats due to rising prices and high EMIs.
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While the situation of the real estate sector in Hyderabad is on the downfall, according to the report, on the other hand, the price of an acre in the city broke the record by one hundred crore rupees, on the other hand, a dream of owning a house for the common man remains to be the miserable party.
The prices of flats and houses and apartments have also increased massively. Huge ventures are being set up and villas and apartments are being built all over the city, but the demand for flats in apartments has decreased drastically in the first quarter of this year (April-June). (Hydnow)
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