Hyderabad Real Estate Market Trends

The real estate market in Hyderabad has experienced a notable increase in the sales of ultra-luxury homes over the past eight months. According to a report by real estate services company ANAROCK, 25 ultra-luxury homes were sold across Mumbai, Hyderabad, NCR’s Gurugram, and Bengaluru up to August this year. Notably, Hyderabad saw a two-fold rise in the sales of these high-end properties, highlighting the city’s growing appeal for affluent buyers.

Two-Fold Rise in Ultra-Luxury Home Sales

From January to August 2024, Hyderabad recorded a significant increase in ultra-luxury home sales, with two transactions worth approximately Rs 80 crore each taking place in the prestigious Jubilee Hills area. This marks an increase from one sale in 2023 to two in the first eight months of 2024, indicating a growing demand for ultra-luxury homes in the city. The city’s real estate market continues to attract high-net-worth individuals looking for exclusive, high-end properties.

Key Areas Experiencing Price Surges

Hyderabad’s real estate market has not only seen a rise in ultra-luxury home sales but also a significant surge in property prices in key areas such as Kokapet, Bachupally, and Tellapur. These locations have shown considerable price hikes, making them among the top 10 areas in India experiencing a rise in property prices. This trend reflects a broader demand for residential properties in prime locations within Hyderabad.

Kokapet Leads Price Appreciation

Kokapet has witnessed the highest surge in property prices among key areas in Hyderabad, with rates increasing by 89% from Rs 4,750 per sq. ft in 2019 to Rs 9,000 per sq. ft in the first half of 2024. This remarkable price appreciation highlights the area’s growing desirability and the increasing willingness of buyers to invest in high-end properties.

Price Comparison of Key Areas

Here’s a comparison of property prices per square foot in 2019 and the first half of 2024 in three prominent areas of Hyderabad:

These price hikes indicate robust growth and strong investor confidence in Hyderabad’s real estate market.

Understanding Ultra-Luxury Homes

Ultra-luxury homes are properties priced above Rs 40 crore, often featuring premium locations, expansive spaces, and top-tier amenities. In 2024, Mumbai led the sales of ultra-luxury homes with 21 transactions totaling approximately Rs 2,200 crore. Among the 25 ultra-luxury home deals recorded this year, nine were valued at over Rs 100 crore each, all located in Mumbai, further cementing the city’s status as a hub for luxury real estate.

Sales of Ultra-Luxury Homes in Major Cities

The following table shows the number of ultra-luxury homes sold in Hyderabad and other major cities in the years 2022, 2023, and 2024:

Commenting on the data, Anuj Puri, Chairman of ANAROCK Group, stated, “The whole of 2023 saw about 61 deals with a cumulative sales value of approximately INR 4,456 crore in Mumbai, Hyderabad, and Gurugram. With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through.”

Market Outlook and Future Trends

As Hyderabad continues to develop as a major business and technology hub, the demand for ultra-luxury homes is expected to remain strong. With key areas witnessing significant price hikes and growing interest from high-net-worth individuals, the city’s real estate market is set to attract more investment in the coming years.

Disclaimer: The information provided in this article is based on data available up to August 2024. Market conditions can vary, and readers are advised to conduct their own research or consult with a real estate professional before making any investment decisions.