Hyderabad’s real estate sector has witnessed a remarkable resurgence, with residential property sales reaching a staggering INR 58,481 crore in the first half of 2024. This marks a substantial increase of 257% from the same period in 2019, underscoring the city’s growing appeal as a residential destination.
The surge in sales has been driven by a combination of factors, including increased affordability, improved infrastructure, and a growing IT sector. The number of residential units sold has seen a 148% rise to 38,643 units, while the average price of an apartment has increased by 44% to INR 1.5 crore. The higher-value segments have witnessed particularly strong growth. Properties priced between INR 5-10 crore and above INR 10 crore have seen increases of 449% and 63-fold respectively. These segments contributed significantly to the overall sales value, accounting for INR 4,727 crore and INR 4,861 crore respectively.
While the higher-value segments have experienced substantial growth, the majority of units sold fall in the under INR 1 crore category. This segment accounted for 17,997 units sold, contributing INR 19,534 crore to the total sales value. North-West Hyderabad has emerged as the dominant market, accounting for 62% of the total sales value. This region has consistently outperformed other areas, with a CAGR of 25% in home sales value from H1 2019 to H1 2024. Despite the boom, new housing launches have decreased, reflecting a potential supply-demand imbalance. However, the inventory overhang has also decreased, suggesting that the market is gradually moving towards equilibrium.
