Hyderabad Real Estate Market Soars With 7% Growth In 2024

Hyderabad's real estate market showed strong growth in 2024. The home sales increased by 7 per cent when compared to the previous year. The transaction value also saw a 23 per cent year-on-year increase.

There were 75,512 housing transactions, including plots, flats, and villas. It marks an increase when compared to 74,495 transactions that were recorded in 2023. However, the value of registered home sales had a sharp growth, rising by 13% to Rs 451.90 billion during the same period.

The total value registered in December amounted to Rs 3,590 Crores. It marks a 2 per cent monthly increase but had a 14 per cent yearly decline. In Dec 2024, there were 5,805 registered properties, which showed a 5% increase from November. But a 20% of sales decline when it is compared to Dec 2023.

The property market shows growth after the pandemic, with good momentum through 2024. While the 4th quarter saw a decline in sales, the yearly performance has a positive story, with bookings outstanding at 2023 levels.

Buying preferences across various income groups

Properties valued below ₹50 lakh had great sales in the real estate market and had 45,605 bookings.
Homes priced between ₹50 Lakhs to ₹1 Crore had 19,964 bookings.
Properties exceeding ₹1 Crore saw 11,044 bookings.

It reflects buyer preferences across different income groups.

Buying preferences based on area

The majority of the property registrations up to 69%, were for homes between 1,000 to 2,000 sq ft.
Small homes between 500 to 1,000 sq ft went for 14%. 11% of sales were for properties between 2,000 to 3,000 sq ft.
Properties under 500 sq ft and those exceeding 3,000 sq ft showed 3% of the total registrations.

Buyers are now evaluating projects to ensure that they meet all needed standards. It results in a cautious approach to decisions. It has caused a slowdown in transaction closures. It reflects in the 12 per cent year-on-year decline in transactions.

The future trend shows a rising preference for premium living. It is driven by the strong economic growth of the city. Builders are responding to this demand by launching luxury projects that are tailored to growing market needs.

The commercial growth of Hyderabad is entering into the housing real estate market. The city's appeal continues to rise as IT giants expand their presence in the city. Major developers like Prestige Group are actively entering the Hyderabad real estate market, which will strengthen its housing sector further. It will increase the demand for properties from local buyers and working people.

Prestige Group pre launch new project is Prestige Spring Heights