Hyderabad Residential Sales Value Up 13% Annually Despite October-December Slump

Hyderabad, February 5, 2025: The Hyderabad residential market continued to demonstrate resilience in 2024, with 75,512 residential transactions including apartments, plots and villas registered, marking a marginal increase compared to 74,495 transactions recorded in 2023, as per data from Square Yards. However, the value of registered home sales experienced a sharper growth, rising by 13 per cent to INR 45,190 crore during the same period.

The relatively slower growth in registered transactions can be attributed to the heightened scrutiny by homebuyers of project compliances post establishment of the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) in July 2024. Buyers are now evaluating projects more meticulously to ensure adherence to these standards, resulting in a more cautious approach to decision-making. This has contributed to a slowdown in transaction closures, reflected in the 12 per cent year-on-year decline in registered residential transactions during the October-December 2024 quarter, with 15,941 units recorded.  

Principal Partner & Sales Director of Square Yards Debayan Bhattacharya said: “Hyderabad property market has demonstrated significant resilience and growth post-pandemic, with sustained momentum continuing through 2024. While the fourth quarter witnessed a decline in transactions due to the impact of HYDRAA on consumer sentiment, the yearly performance tells a more positive story, with total registrations surpassing 2023 levels. Also, the government’s clarifications, ensuring projects with prior approvals remain unaffected, alongside developers recalibrating their customer outreach strategies, are steadily restoring consumer confidence. We believe the impact on sentiment will be short-lived, and in the long run, these developments will foster sustainable growth, curb illegal encroachments, and promote compliance. Moreover, as Hyderabad rapidly establishes itself as a leading IT and GCC hub, we anticipate residential demand to remain robust, driven by premium properties. The city’s evolving infrastructure and economic opportunities will continue reinforce its position as a key residential market in India.”

In October-December 2024, the sales value dropped by 5 per cent, amounting to INR 9,617 crore compared to INR 10,114 crore recorded in the October-December quarter of the previous year. Notably, the average home sales value rose by 8 per cent annually, with the current figure standing at INR 60 lakh. This trend highlights a strong homebuyer preference for mid-to-high segment properties in Hyderabad.

Market Leaders and Key Projects

Aparna Constructions and Estates maintained its leadership in Hyderabad’s residential market during the October-December 2024 quarter, topping both registered sales value and residential transactions. The developer recorded a sales value of INR 563 crore across 627 units, with its flagship project, Aparna Zenon in Khajaguda, emerging as the standout performer. Brigade secured the second position with a sales value of Rs. 264 crore from 217 transactions, driven by their project Brigade Citadel. Developers such as Prestige Group and K Raheja Corp also retained their stronghold within the top 10 developers with highest registered home sales value of INR 125 crore and INR 114 crore, respectively in October-December 2024.

The city’s appeal continues to rise as global IT giants such as Microsoft amongst others expand their operations in Hyderabad, further solidifying its position on the global map. This commercial expansion is feeding into the residential market, with increasing demand from local buyers and working professionals. Additionally, major developers like Godrej Properties and Brigade Enterprises are actively entering the Hyderabad market, further strengthening its residential sector.

Area-wise and Budget-wise Trends

Hyderabad’s residential market continued its steady shift toward mid-to-high price segments during the October-December 2024 quarter, reflecting an evolving buyer preference observed over recent years. Transactions priced below INR 50 lakh accounted for the largest share at 59 per cent; however, this segment’s market share moderated from 63 per cent in the same period the previous year.

Conversely, the premium segment, comprising properties priced above Rs. 1 crore, demonstrated growth with share rising to 13 per cent in October-December 2024 as compared to 11 per cent in same period previous year. A total of 2,153 transactions were recorded in this segment during October-December 2024, compared to 1,981 in the same period of 2023. This growth in the INR 1 crore segment comes despite a decline in the overall number of registered transactions during the same period. This trend aligns with the sustained demand for mid-to-large residential spaces, as properties in the 1,000–1,500 sq. ft. range accounted for 71 per cent of total transactions.