Hyderabad’s Real Estate Soars: 7% Growth in Transactions, Sales Value Up by 20% in Q3 2024

Hyderabad’s Housing Market Heats Up: Is Now the Right Time to Buy?

Hyderabad, the capital of Telangana, is experiencing a significant upsurge in its real estate market, particularly in the residential segment. According to a recent report by Square Yards, a leading proptech platform, the city witnessed a 20% year-on-year increase in sales value and a 7% growth in transactions during the September quarter. This hot streak has many people wondering if now is the right time to buy a home in Hyderabad.

Commenting on this positive trend, Debayan Bhattacharya, Principal Partner and Sales Director at Square Yards, said, “Buyers are prioritising convenience and connectivity and are willing to pay a premium for it. Established areas like Gachibowli and Madhapur, as well as emerging localities like Kokapet and Narsingi near the Outer Ring Road (ORR), are seeing heightened residential activity due to excellent connectivity to both the airport and Hyderabad’s IT hubs.”

Notable Insights from the Q3 2024 Report

The report reveals that Hyderabad recorded 19,527 residential transactions in Q3 2024, marking a year-on-year increase from 18,314 transactions in the same quarter last year. The registered sales value reached ₹11,718 crore, reflecting the city’s strengthening real estate market. In Particular, the average home sales value rose to ₹60 lakh, a 13% increase, pointing to buyers’ growing preference for mid-to-high price segment properties.

Key Aspects That Influence Hyderabad’s Real Estate Growth

Several factors fuel Hyderabad’s real estate growth, from a growing IT sector to rising demand for spacious homes.

Key Players Shaping Hyderabad’s Real Estate Market

In the recent quarter, Hyderabad’s residential market saw leading developers solidifying their positions by delivering high-value transactions. Aparna Constructions and Estates took the lead with 625 units sold, generating ₹510 crore sales. Prestige Group followed closely, with a sales value of ₹334 crore from 214 transactions.

Other top performers include:

• Brigade Group: Known for consistently ranking among Hyderabad’s top developers, meeting demand for premium homes.
• Prestige Group: Ranked second, with a sales value of ₹334 crore across 214 residential transactions, Prestige Group continues to be a significant player due to strategic locations near the ORR and IT hubs.

The Road Ahead: Growth to Continue

Given Hyderabad’s favourable housing conditions, the analysis depicts the positive trends observed this quarter and will carry into the next. The Square Yards report highlights buyer behaviour of buyers increasingly drawn to larger, higher-priced homes, with properties priced at ₹1 crore and above now comprising 13% of sales, up from 9% last year. Stats have shown that spacious homes (1,000–1,500 sq. ft.) accounted for 44% of transactions, while demand for even larger homes (1,500–3,000 sq. ft.) has grown to 37%, driven by a preference for 3 BHK and larger layouts.

As Bhattacharya puts it, “Hyderabad is on a path of sustained growth, and we are excited to see how this dynamic market evolves. The Q3 2024 report underscores Hyderabad’s status as a powerhouse in Indian real estate. With its flourishing economy, strategic location, and strong demand for housing, the city is expected to continue climbing.”

Read more through the links below to uncover the key trends and market leaders driving this growth:

Hindustan Times – https://bit.ly/3AttUIn
Realty+ – https://bit.ly/3YV9vVL
CNBC-TV18 – https://bit.ly/40y440o
Press Trust of India – PTI – https://bit.ly/4fjiUfE
NewsDrum – https://bit.ly/48IOhh9
The Siasat Daily – https://bit.ly/4fhTfUy
AbnAndhrajyothy – https://bit.ly/48DrDab