Hyderabad's housing market remains resilient, with a significant 20% growth in total sales value during the September 2024 quarter, despite a slight sequential dip. Square Yards reported a 7% rise in annual residential transactions, while leading developers like Aparna Constructions and Prestige Group observed strong demand for projects near the Outer Ring Road (ORR). The city saw a shift towards mid-to-high priced properties, with larger home configurations gaining popularity. The Western suburbs led in both transaction volume and sales value, underscoring the area's appeal among homebuyers and investors.
In the face of fluctuating real estate trends across India, Hyderabad's residential market has demonstrated impressive resilience, highlighted by a remarkable 20% year-on-year rise in total registered sales value in the September 2024 quarter. According to data shared by Square Yards, Hyderabad recorded 19,527 registered transactions, up from 18,314 during the same period in 2023. This growth reflects a 7% increase in annual residential transactions, showcasing Hyderabad's enduring appeal among homebuyers and investors alike.
The September quarter alone saw the average registered home sales value reach INR 60 lakh, marking a substantial 13% growth year-over-year. Industry experts note that Hyderabad's strength lies in its mid-to-high price segment, where properties priced at INR 1 crore and above climbed to 13% in sales, up from 9% in the previous year. Homes priced between INR 1 crore and INR 2 crore particularly stood out, growing from a 7% to an 11% share of total transactions.
Prominent developers such as Aparna Constructions and Prestige Group were instrumental in driving Hyderabad's real estate market growth. Aparna Constructions led with 625 units sold, generating a sales value of INR 510 crore, while Prestige Group closely followed with INR 334 crore in sales across 214 transactions. Demand was notably high for projects with easy access to the city's Outer Ring Road (ORR), such as Aparna Zenon in Khajaguda and Prestige Tranquil in Kokapet. These developments recorded top performance in both transaction volume and sales value, underscoring the importance of connectivity in buyer preferences.
Insights from the data reveal a clear shift in buyer preferences towards larger homes, with 44% of transactions falling in the 1,000-1,500 sq. ft. range, while properties between 1,500-3,000 sq. ft. accounted for a growing 37% share, up from 31% last year. This trend aligns with the rising demand for spacious 3 BHK configurations and above, as more families seek larger living spaces.
Geographically, Hyderabad's Western suburbs emerged as the city's most active region, representing 45% of registered transactions and 56% of the total sales value in the September quarter. These suburbs, once focused around HITEC City, have now expanded toward the ORR, which provides seamless connectivity to IT hubs and the Hyderabad International Airport. Additionally, the Western micro-market benefits from ample land availability, robust infrastructure, and Kokapet's upcoming commercial hub, further enhancing its appeal among developers, investors, and end-users alike.
The ongoing growth in Hyderabad's housing market reflects a sustained demand for residential properties across various price and size segments, reaffirming the city's reputation as a thriving real estate hub. With strategic infrastructure developments and expanding suburban activity, the city is well-positioned to continue its upward trajectory in the coming years.
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