Hyderabad has become a major metropolitan city with a population of around 1,10,69000 by 2024. These numbers will likely increase with the 2.65% annual growth. The city is the fourth-most populated country in terms of population.
The real estate market in Hyderabad has witnessed a remarkable surge in sales over the past few years. This growth can be attributed to several factors, including increased investment in infrastructure, the city’s growing IT sector, and favorable government policies. In this blog post, we’ll delve into the quantified numbers that highlight this upward trend in real estate sales.
Rising Property Transactions
According to recent data, the number of property transactions in Hyderabad has increased significantly. In 2023 alone, the city recorded over 50,000 property sales, marking a 20% increase compared to the previous year. Hyderabad witnessed a surge in residential property sale in 2023, reaching a total of 32,880 units, marking a substantial growth. Surprisingly in first Quarter of 2024 residential property transactions of Hyderabad were Rs 23,7800 Crore reaching its all time high in a year . Nearly half of these transactions occurred in the upscale segment, valued at ₹1 crore and above
Price Appreciation
Alongside the increase in sales volume, there has been a noticeable appreciation in property prices. The average property price in Hyderabad rose by approximately 15% in 2023, reflecting the strong market demand and limited inventory. This price appreciation has been particularly prominent in prime locations and areas with good connectivity and infrastructure.
IT Sector Boom
Hyderabad’s thriving IT sector has also contributed to the city’s buoyant real estate market. With multinational corporations and tech startups setting up operations in Hyderabad, there has been a steady influx of professionals seeking housing in the city. This influx has led to increased demand for both residential and commercial properties.49,600 Companies are located alone in Hyderabad .
Infrastructure Development
Hyderabad’s rapid infrastructure development has played a pivotal role in driving real estate sales. The government’s focus on improving connectivity through road expansions, the development of metro lines, and the construction of new flyovers has made the city more accessible and attractive to investors and home buyers alike. Hyderabad’s development around ORR is also gradually increasing rapidly. So many builders are building Gated communities in and Around ORR Area of Hyderabad .
Conclusion
In conclusion, the real estate market in Hyderabad is experiencing a period of robust growth, fueled by infrastructure development, a booming IT sector, and favorable government policies. With increasing property transactions, rising prices, and a positive investment climate, Hyderabad continues to cement its position as one of India’s most dynamic real estate markets.
Whether you’re an investor looking for lucrative opportunities or a homebuyer seeking your dream property, now might be the perfect time to explore the vibrant real estate landscape that Hyderabad has to offer.