Hyderabad’s real estate market has witnessed a remarkable surge, with under-construction property prices climbing by 11.9% in Q4 2024. This growth reflects the city’s evolving real estate dynamics, driven by increased demand for premium housing and robust economic expansion. In this blog, we explore the key factors fueling this price hike and its implications for buyers and developers in Hyderabad’s booming property market.
Under-Construction Properties: A Snapshot of Growth
Significant Price Surge
The average price of under-construction properties in Hyderabad reached INR 9,090 per square foot (psf) in Q4 2024, marking an 11.9% year-on-year (YoY) increase. This surge signifies a shift in market focus towards high-quality residential projects that cater to changing buyer preferences.
Increased Supply in the Market
The supply of under-construction properties also grew by 4.5% YoY, underscoring Hyderabad’s strong real estate fundamentals. Developers are targeting both affordable and premium housing segments to meet the diverse needs of homebuyers.
Nationwide Trends in Under-Construction Properties
Hyderabad’s growth aligns with a larger national trend of rising prices and supply in the under-construction segment:
- Average National Price: INR 12,064 psf.
- Supply Growth: 46.8% YoY across major cities.
Cities like Bengaluru, Gurgaon, and Greater Noida recorded sharp price and supply increases, reflecting robust demand and developer confidence.
Hyderabad’s Position in the National Market
Compared to other cities, Hyderabad shows a balanced growth trajectory:
- Price Growth: 11.9% YoY.
- Supply Growth: 4.5% YoY.
While Bengaluru saw a 25.7% increase in prices and Gurgaon recorded a 99% rise in supply, Hyderabad’s moderate growth indicates steady and sustainable progress, fueled by demand for both affordable and premium housing.
Factors Driving Hyderabad’s Price Surge
1. Economic Growth and Infrastructure Development
Hyderabad’s expanding economic base, driven by sectors like IT and pharmaceuticals, has boosted demand for residential properties. Infrastructure projects such as new metro lines, expressways, and tech parks further enhance the city’s appeal.
2. Shift Towards Premium Housing
Developers are focusing on high-quality projects with modern amenities, reflecting changing buyer preferences. This shift drives up prices in the under-construction segment.
3. Steady Urbanization
Hyderabad continues to attract migrants seeking employment and quality living standards, further increasing demand for residential properties.
Positive Outlook for Hyderabad Real Estate
Continued Growth Prospects
Hyderabad’s real estate market is set to maintain its upward momentum, supported by:
- Ongoing infrastructure projects.
- Rising interest in premium housing.
- Resilient demand despite economic challenges.
Opportunities for Buyers and Developers
For homebuyers, this is an opportune moment to invest in under-construction properties, as prices are expected to rise further. Developers, on the other hand, can capitalize on this growth by launching projects that cater to evolving market trends.
Hyderabad’s Real Estate Boom
Hyderabad’s real estate sector remains a beacon of growth in India, with under-construction property prices witnessing a significant rise in Q4 2024. As infrastructure development and economic progress continue, the city is poised for sustained real estate success. Both buyers and developers should watch this market closely, as it offers immense potential for investment and development in the coming years.
Image Suggestion:
- A skyline view of Hyderabad with under-construction skyscrapers.
- Infographics showing Hyderabad’s real estate price trends compared to other cities.
