Hyderabad's Real Estate Market Shows Strong Growth with 7% Increase in Residential Registrations
Hyderabad's real estate market has seen a remarkable surge, with areas like Gachibowli and Madhapur leading the way in terms of heightened demand.
HyderabadReal EstateResidential RegistrationsIt SectorLuxury HomesReal EstateNov 06, 2024
One of the key highlights of this growth is the significant surge in sales value. The total value of registered residential sales reached approximately Rs 11,718 crores, marking a 20% increase from the previous year. This impressive growth underscores the strong demand for housing in Hyderabad, driven by various factors including economic stability and ongoing infrastructure development.
According to Debayan Bhattacharya, the sales director at Square Yards, the growth in the IT sector and stable incomes among working professionals have played a crucial role in revitalizing the Hyderabad real estate market. Areas such as Gachibowli and Madhapur, along with Kokapet and Narsingi, are witnessing heightened demand due to improved connectivity to IT hubs and the airport. This enhanced accessibility has made these regions increasingly attractive for residential living.
Moreover, Hyderabad is emerging as one of the fastest-growing real estate markets in India. The city's appeal to domestic companies for investment remains strong, supported by an influx of migrants seeking housing. This trend has led to a notable increase in demand for residential properties across various segments, catering to diverse buyer preferences.
Lastly, there has been a marked increase in demand for luxury and ultra-luxury homes over the past few years. This surge is attributed to rising incomes and enhanced infrastructure facilities, making high-quality living spaces more desirable among buyers.
Square Yards is a leading real estate consultancy firm, known for its comprehensive market analysis and strategic insights. The firm provides valuable information to both buyers and sellers, helping them make informed decisions in the dynamic real estate landscape.
Frequently Asked Questions
What is the percentage increase in residential registrations in Hyderabad from July to September 2024?
Residential registrations in Hyderabad increased by 7% from July to September 2024 compared to the same period last year.
What is the total value of registered residential sales in Hyderabad during the July to September 2024 quarter?
The total value of registered residential sales reached approximately Rs 11,718 crores during the July to September 2024 quarter.
Which areas in Hyderabad are witnessing heightened demand in the real estate market?
Areas such as Gachibowli, Madhapur, Kokapet, and Narsingi are witnessing heightened demand in the real estate market.
What factors are driving the growth in the Hyderabad real estate market?
The growth in the Hyderabad real estate market is driven by factors such as economic stability, ongoing infrastructure development, and the growth in the IT sector.
What is the trend in demand for luxury and ultra-luxury homes in Hyderabad?
There has been a marked increase in demand for luxury and ultra-luxury homes in Hyderabad over the past few years, attributed to rising incomes and enhanced infrastructure facilities.
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