Hyderabad's Property Market Sees Significant Growth in Q2 2024
Hyderabad's property registrations touch ₹12,000 crore in Q2 2024, with homebuyers opting for bigger and costlier homes.
HyderabadProperty MarketReal EstateSquare YardsHomebuyersReal Estate NewsJul 26, 2024
Homebuyers in Hyderabad are opting for bigger and costlier homes, with the share of transactions for properties priced between ₹50 lakh to ₹1 crore increasing to 28% in the June quarter, up from 21% during the same period last year. The share of transactions for properties priced between ₹1-2 crore nearly doubled, rising to 14% from 8% in the same period the previous year.
The report highlighted that the shift towards more expensive properties coincides with a preference for larger homes. Around 45% of transactions in the second quarter of 2024 were for apartments sized between 1,000-1,500 sq ft, while 37% were for those between 1,500-2,000 sq ft of size, up from 31% in the same period last year.
Hyderabad West remained the epicentre of residential activity, accounting for 46% of the total registered home transactions in the June quarter, followed by Hyderabad East with a 15% share. In terms of sales value, the western micro-market dominated with a 58% share, followed by central and eastern suburbs with 11% and 10% shares, respectively.
Debayan Bhattacharya, principal partner and sales director, Square Yards, said, 'The Hyderabad property market is on a remarkable upward trajectory...This growth reflects a strong appetite among homebuyers for premium and spacious properties, particularly those from reputable developers.' He added that this surge has drawn several prominent developers in the past few years, who have since been enjoying successful project launches in Hyderabad.
Square Yards is a proptech firm that provides comprehensive real estate solutions to homebuyers. The company's report provides insights into the Hyderabad property market, highlighting trends and preferences among homebuyers.
Frequently Asked Questions
What was the total value of property registrations in Hyderabad in Q2 2024?
₹11,953 crore
What is the average registered home sales value in Hyderabad?
₹61 lakh
What is the share of transactions for properties priced between ₹50 lakh to ₹1 crore in the June quarter?
28%
Which micro-market dominated the residential activity in Hyderabad in Q2 2024?
Hyderabad West
What is the total area of homes sold in Hyderabad in Q2 2024?
29 million sq ft
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