Hyderabad’s residential real estate market has shown continued resilience, posting solid growth in the July-September 2024 quarter. According to a report from Square Yards, the city recorded a 7% year-on-year increase in registered residential transactions, reaching a total of 19,527 transactions compared to 18,314 in the same period last year.
In terms of sales value, Hyderabad’s residential market performed even more strongly, with a remarkable 20% year-on-year surge in total registered sales value, which reached Rs. 11,718 crore during the quarter. The average home sales price also saw a 13% increase, reaching Rs. 60 lakh per unit, signaling a growing preference for mid-to-high priced properties.
Market Overview – July-September 2024
- Registered Residential Transactions: 19,527 units (7% YoY growth)
- Total Sales Value (GTV): Rs. 11,718 crore (20% YoY growth)
- Average Sales Value: Rs. 60 lakh (13% YoY growth)
Despite a slight quarter-on-quarter dip, the city’s housing market remains robust, buoyed by Hyderabad’s thriving IT sector and a steady influx of working professionals. Debayan Bhattacharya, Principal Partner and Sales Director at Square Yards, commented, “The strong performance in Hyderabad’s residential market is being driven by the growing demand for well-connected properties. Areas like Gachibowli, Madhapur, Kokapet, and Narsingi, which are well-served by the Outer Ring Road (ORR) and proximity to key IT hubs, have become increasingly popular among homebuyers.”
Leading Developers and Key Projects
Aparna Constructions and Estates continues to lead Hyderabad’s residential market, recording the highest number of transactions with 625 units sold for a total value of Rs. 510 crore. Prestige Group secured the second spot, achieving a sales value of Rs. 334 crore from 214 transactions. Other notable developers in the top 10 include Honer Developers, K Raheja Corp, and Brigade Group.
The growth in demand is particularly evident in projects that offer excellent connectivity, with Aparna Zenon in Khajaguda and Prestige Tranquil in Kokapet being standout performers. These projects have become highly sought after, driving both transaction volume and sales value.
Top Developers by Sales Value (July-September 2024)
- Aparna Constructions and Estates – Rs. 510 crore
- Prestige Group – Rs. 334 crore
- Honer Developers – Rs. 158 crore
- Koncept Ambience Group – Rs. 135 crore
- K Raheja Corp – Rs. 130 crore
Growth in Premium Segment and Larger Homes
Hyderabad’s housing market is witnessing significant growth in the premium segment, with homes priced above Rs. 1 crore now accounting for 13% of total transactions, up from 9% last year. The demand for larger homes is also on the rise, with properties between 1,500 and 3,000 sq. ft. representing 37% of all transactions, compared to 31% in the same quarter last year.
The city’s homebuyers are increasingly gravitating towards larger apartments, with 44% of all transactions involving homes between 1,000–1,500 sq. ft. As the demand for 3 BHK and larger configurations continues to rise, developers are focusing on delivering spacious homes to meet these preferences.
Performance by Micro-Markets
The Western suburbs of Hyderabad continue to be the most active region, accounting for 45% of all transactions in the July-September quarter. This area, which includes prominent localities like HITEC City, Kokapet, and Narsingi, also recorded the highest average transaction value at Rs. 76 lakh. The excellent connectivity provided by the Nehru Outer Ring Road (ORR) has played a key role in driving demand in these regions.
The Eastern and Central suburbs followed with smaller shares of 17% and 11% respectively in terms of transactions. However, areas in the West have outperformed in sales value, accounting for 56% of total home sales during the quarter.
Top Localities by Transactions
- Kokapet: Highest average sales value of Rs. 1.20 crore, driven by premium projects like Prestige Tranquil
- Narsingi and Puppalguda: Continued strong demand due to excellent connectivity to IT hubs and the airport
Conclusion: Positive Outlook for Hyderabad’s Residential Market
The growth in Hyderabad’s residential real estate market, particularly in the premium and mid-range segments, reflects a strong, sustained demand for well-located properties. The city’s expanding IT and commercial infrastructure, coupled with the development of new residential hubs along the ORR, positions Hyderabad as one of India’s most attractive property markets. As more developers focus on large-scale projects in these emerging areas, the city’s housing market is expected to remain on an upward trajectory in the coming quarters.
Key Insights
- Strong demand for well-connected properties, especially near the Outer Ring Road (ORR)
- Growth in premium housing, with homes priced over Rs. 1 crore gaining market share
- Western suburbs dominate both in terms of transactions and sales value, driven by infrastructure development and proximity to IT hubs
- Leading developers like Aparna Constructions, Prestige Group, and Brigade Group continue to shape the market’s growth
With sustained investment in infrastructure and a booming tech sector, Hyderabad’s residential market is poised to continue its strong performance in the near future.
Also Read: Top Cities Experience Soaring Residential Prices, with Bengaluru and Hyderabad Leading the Charge
