Hyderabad Homebuyers Opt for Bigger, Costlier Homes – Sales Value Soars 27% vs. 11% Rise in Transactions: Square Yards

Aparna Constructions and Estates leads as Top Developer, while Grade-A developers Prestige and Brigade, entered the top-10 list of developers for the highest registered home sales transactions and value.

Hyderabad, Telangana, July 25, 2024 – Hyderabad’s residential real estate market has once again showcased its strength, emerging stronger in yet another quarter. The city witnessed a commendable growth in registered home sales transactions both annually (11 percent) and sequentially (4 percent) during the April-June 2024 period, as reported by Square Yards. A total of 19,574 transactions were recorded in IGR, underscoring the city’s vibrant real estate activity.

In the June 2024 quarter, the registered sales value surged to Rs. 11,953 crore, marking a robust 27 percent increase from the same period last year. The average registered home sales value in Hyderabad climbed to Rs. 61 lakh, reflecting a 15 percent annual growth. In line with this trend, the share of transactions for properties priced between Rs. 50 lakh-1 crore increased to 28 percent in the June quarter, up from 21 percent during the same period the previous year. Additionally, the share of transactions for properties priced between Rs. 1-2 crore nearly doubled, rising to 14 percent from 8 percent in the same period.

*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

This shift towards more expensive properties coincides with a preference for larger homes, with 45 percent of transactions being for apartments between 1,000-1,500 sq.ft. in size, and 37 percent for those between 1,500-2,000 sq.ft., up from 31 percent same period last year. During this period, the total area of homes sold reached 29 million square feet, 15 per cent higher as compared to previous year.

*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Debayan Bhattacharya, Principal Partner & Sales Director, Square Yards said, “The Hyderabad property market is on a remarkable upward trajectory. Our latest figures show an 11 percent annual increase in registered transactions and a substantial 27 percent rise in registered home sales value for the June quarter. This growth reflects a strong appetite among homebuyers for premium and spacious properties, particularly those from reputable developers such as Prestige and Brigade offering high-quality amenities. This surge has drawn several prominent developers in past few years, who have since been enjoying successful project launches in Hyderabad market.”

He further added, “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.”

Micro Market Performance

Hyderabad West remains the epicentre of residential activity, accounting for 46 percent of the total registered home transactions in the June quarter. Hyderabad East followed, capturing a 15 percent share. In terms of sales value as well, the western micro-market dominated with a 58 percent share, followed by central and eastern suburbs with 11 percent and 10 percent shares, respectively.

*Includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Locality-level insights highlight Bachupally as the leader with 1,010 registered transactions, followed by Kondapur and Puppalguda in the west. Kondapur led in registered home sales value with Rs. 729 crore worth of homes sold during the quarter, with Puppalguda and Kokapet also making substantial contributions. Kokapet 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.

Market Leaders and Key Projects

Aparna Constructions and Estates continued to dominate in both total registered transactions and sales value during the April-June 2024 quarter. Their project, Sarovar Zicon in Nalagandla recorded the highest number of registered transactions and also achieved the highest sales value. Branded developers such as Prestige and Brigade have also made significant strides, making it to the list of top developers in terms of maximum transactions and sales value.

*Includes primary residential registered transactions only.

Source: IGR, SquareYards.com