Hyderabad’s real estate landscape is undergoing a remarkable transformation, particularly in North Hyderabad, where property sales have skyrocketed by 179% in the first half of 2024 compared to the same period in 2019. This surge signifies a compounded annual growth rate (CAGR) of 23% in total sales value, underscoring the robust demand for real estate in this burgeoning region. The notable increase in transactions reflects the growing appeal of North Hyderabad as an emerging property hotspot, with buyers keen to invest in this rapidly developing area.
The demand surge is particularly evident across various property segments. Homes priced between ₹1 crore and ₹2 crore have experienced an astounding 264% rise in sales, while properties valued under ₹1 crore have increased by 128%. Additionally, homes in the ₹2 crore to ₹5 crore category have seen a significant boost, with a reported 157% increase. The average unit value in the first half of 2024 has appreciated by 35% compared to the same period in 2019, now standing at ₹1 crore. These figures not only indicate a shift in buyer preferences but also reflect a growing confidence in the long-term value of properties in this region.
Insights from CREDAI Hyderabad’s recent property show, CREDAIbility, reveal that the surge in sales can be attributed to enhanced infrastructure and strategic developments in North Hyderabad. The construction of the tallest IT Tower at Kandlakoya, designed to accommodate around 100 companies and provide employment for 50,000 individuals, is set to significantly enhance the region’s economic profile. Furthermore, North Hyderabad has established itself as a hub for biomedical research, with over 200 companies, including major global players like Novartis and GlaxoSmithKline, contributing to the area’s economic vibrancy. The development of the Hyderabad-Nagpur Industrial Corridor (HNIC) and the National Investment and Manufacturing Zone (NIMZ) in Zahirabad is expected to accelerate this growth trajectory.
