by THO
Hyderabad’s property registrations increased 11% year-on-year to 19,574 transactions, amounting to a total of ₹11,953 crore during the April-June period of 2024, according to a report released by proptech firm Square Yards on July 25.
The registered home sales value grew 27% annually while the number of transactions grew 4% sequentially, per the report.
The average registered home sales value in Hyderabad climbed to ₹61 lakh, reflecting a 15% annual growth, the report said.
According to the report, the share of transactions for properties priced between ₹50 lakh to ₹1 crore increased to 28% in the June quarter, up from 21% during the same period last year. Additionally, the share of transactions for properties priced between ₹1-2 crore nearly doubled, rising to 14% from 8% in the same period the previous year.
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The report highlighted that the shift towards more expensive properties coincides with a preference for larger homes. Around 45% of transactions in the second quarter of 2024 were for apartments sized between 1,000-1,500 sq ft. Meanwhile 37% were for those between 1,500-2,000 sq ft of size, up from 31% in the same period last year. During this period, the total area of homes sold reached 29 million sq ft, 15% higher as compared to the year-ago period, per the report.
“The Hyderabad property market is on a remarkable upward trajectory…This growth reflects a strong appetite among homebuyers for premium and spacious properties, particularly those from reputable developers,” said Debayan Bhattacharya, principal partner and sales director, Square Yards. He added that this surge has drawn several prominent developers in the past few years, who have since been enjoying successful project launches in Hyderabad.
Hyderabad’s micro markets
According to the report Hyderabad West remained the epicentre of residential activity, accounting for 46% of the total registered home transactions in the June quarter. Hyderabad East followed, capturing a 15% share. In terms of sales value as well, the western micro-market dominated with a 58% share, followed by central and eastern suburbs with 11% and 10% shares, respectively.
The report named Bachupally locality as the market leader with 1,010 registered transactions, followed by Kondapur and Puppalguda in the west. Kondapur led in registered home sales value with ₹729 crore worth of homes sold during the quarter, with Puppalguda and Kokapet also making substantial contributions.
Kokapet in West Hyderabad is emerging as a sought-after locality due to its strategic location on the Outer Ring Road (ORR), connectivity to the airport, and the upcoming Neopolis project, the report noted.
“As the city’s expanding IT sector continues to drive residential demand, we’re seeing increased interest from not only end-users but also investors, drawn by attractive returns. Looking ahead, we anticipate that both demand and supply will continue to strengthen, solidifying Hyderabad’s position as a leading residential real estate hub not only in the southern region but across India,” Bhattacharya said.
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