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Hyderabad’s residential real estate market continues to demonstrate resilience, posting robust performance in the September quarter. Despite a slight sequential dip, the city recorded a 7% annual growth in registered residential transactions during the July-September 2024 period, as reported by Square Yards. A total of 19,527 transactions were recorded in the IGR, as compared to 18,314 in same period last year.

In the September 2024 quarter, the total registered sales value surged to Rs. 11,718 crore, representing a 20% year-on-year increase. The average registered home sales value in Hyderabad reached Rs. 60 lakh, reflecting a 13% annual growth during the quarter.

Analysis includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Debayan Bhattacharya, Principal Partner & Sales Director, Square Yards said, “Hyderabad has maintained strong momentum, driven by growth in the IT sector and a steady influx of working professionals. In the September quarter, residential transactions increased by 7% year-on-year, while sales value saw an even more impressive growth of 20%. Buyers are prioritizing a blend of convenience and connectivity and are willing to pay a premium for such properties. In addition to established areas like Gachibowli and Madhapur, emerging localities such as Kokapet, Narsingi, and others near the Outer Ring Road (ORR) are experiencing heightened residential activity due to excellent connectivity to both the airport and Hyderabad's IT hubs. Moving forward, we are confident the city's residential market will sustain its upward trajectory in the upcoming months.”

Market Leaders and Key Projects

Aparna Constructions and Estates maintained its leadership in Hyderabad’s residential market, recording the highest number of transactions with 625 units sold, amounting to Rs. 510 crore. Notably, branded developers such as Prestige and Brigade have entered the top-10 developer list in recent quarters and have sustained their positions. Prestige Group secured the second spot, achieving a sales value of Rs. 334 crore across 214 residential transactions.

Both Aparna Constructions and Prestige experienced strong demand for projects offering excellent connectivity to the Outer Ring Road (ORR), including Aparna Zenon in Khajaguda and Prestige Tranquil in Kokapet. These projects were the top performers in the September quarter, leading in both transaction volume and sales value in Hyderabad.

Analysis includes primary residential registered transactions only.

 Source: IGR, SquareYards.com    

Analysis includes primary residential registered transactions only.

Source: IGR, SquareYards.com                                      

Area-wise and Budget-wise Trends

Hyderabad continues to see growth in its mid-to-high price segment, with the share of properties valued at Rs. 1 crore and above rising to 13% in the September 2024 quarter, up from 9% in the same period last year. Within this segment, homes priced between Rs. 1–2 crore held the largest share at 11%, marking an increase from 7% during the July-September 2023 period.

The city’s homebuyers remain inclined towards larger homes, with the highest volume of transactions (44%) falling within the 1,000–1,500 sq. ft. range. Notably, properties sized between 1,500–3,000 sq. ft. accounted for the second-largest share of 37% of total transactions, up from 31% last year, as demand for 3 BHK and above configurations continues to rise.

*Analysis includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Micro Market Performance

Hyderabad's micro-market trends reveal that the Western suburbs remain the most active region, accounting for 45% of registered transactions in the September quarter. Hyderabad East followed distantly with a 17% share. In terms of sales 

value as well, the Western micro-market led with a dominant 56% share, while the Eastern and Central suburbs captured 12% and 11%, respectively. The Western suburbs also recorded the highest average transaction value at Rs. 76 lakh, outperforming the Central suburbs.

A closer analysis reveals that activity in Hyderabad’s western suburbs, once concentrated around HITEC City, has progressively expanded outward towards the Nehru Outer Ring Road (ORR) which offers seamless connectivity not only to the city's IT hubs but also to Hyderabad's international airport. The availability of sizeable land parcels, coupled with excellent infrastructure and the upcoming commercial/ IT hub of Kokapet Neopolis, has significantly increased interest from developers, investors and end-users.

*Analysis includes both primary and secondary residential registered transactions.

Source: IGR, SquareYards.com

Consequently, areas like Kokapet, Puppalguda, Narsingi and Nalagandla amongst others have consistently featured among the top-performing localities in terms of registrations and sales value in recent years. The rising demand, accompanied by premium residential projects, has further driven property values in these locations, with Kokapet recording the highest average sales value of Rs. 1.20 crore after Raidurg near HITEC City, amongst the top-10 localities by transactions in the September quarter.

In recent years, Hyderabad has experienced rapid growth in its peripheral and suburban areas as the city expands outward along major roadways. This expansion has unlocked significant land parcels, attracting both local and national developers who are maintaining a strong pipeline of projects in the region, according to insights from Square Yards. This development aligns with the rising office offtake in Hyderabad, as the city continues to draw an influx of IT professionals—a trend that is poised to sustain robust residential activity in the coming years.

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