The supply of new homes in Hyderabad witnessed an uptick with a 9% YoY growth during the final quarter of 2023.
| Photo Credit: Representational photo
According to a latest research report by PropTiger.com, residential real estate demand in Hyderabad saw a 98% surge during the fourth quarter of 2023, leading to a 49% Year-on-Year (YoY) overall annual growth in the sector.
The supply of new homes witnessed an uptick with a 9% YoY growth during the final quarter of the year. This surge in supply was particularly concentrated in micro markets such as Tellapur, Kokapet and Nanakramguda, indicating developers’ focus on emerging hotspots within the city. Seventy-six per cent of these newly launched units fell within the premium bracket of over ₹1 crore, with 56% of units sold falling in the same price range.
According to the report, in the fourth quarter of 2023, capital values in Hyderabad surged by 10% YoY, showcasing the city’s resilience and attractiveness to both investors and homebuyers. With prices ranging between ₹6,700 and ₹6,900 per square foot, Hyderabad’s real estate market reflects a robust and sustainable growth trajectory, mirroring similar trends observed in key metropolitan cities such as Bengaluru, which also experienced a 10% YoY increase in capital values.
“The 10% YoY increase in capital values solidifies Hyderabad’s position as a prime investment destination, alongside other major cities in India,” said Vikas Wadhawan, business head of PropTiger.com.
Head of research at Housing.com and PropTiger.com Ankita Sood noted: “Our insights indicate that most residential sales and launches are concentrated along the Outer Ring Road, particularly in localities such as Tellapur, Kokapet and Bachupally. Given the peak demand witnessed in 2023, we anticipate the positive momentum to continue in upcoming quarters.”
