Hyderabad:Hyderabad emerged as the third largest market for the luxury housing units priced Rs 10 crore and above in 2024. The city has seen 689 such units sold with a cumulative value of Rs 10,312 crore last year, the third highest in India by value, said a report by CRE Matrix.
The Mumbai Metropolitan Region (MMR) led the luxury residential market with 928 units getting sold during the year for a cumulative value of `20,231 crore. The second place goes to the Delhi-National Capital Region, which saw 795 units sold for a value of Rs 20,109 crore.
Bengaluru saw sales of 77 luxury units worth Rs 1,388 crore. Chennai sold 41 units (Rs 631 crore), Pune sold 25 units valued at Rs 353 crore and Kolkata added 10 units worth Rs 150 crore, it said.
According to the report, the total market for luxury houses priced above `10 crore is estimated at `53,000 crore.
The Hyderabad residential market demonstrated resilience in 2024, with 75,512 residential transactions including apartments, plots and villas registered. This is slightly higher than 74,495 transactions recorded in 2023. The value of registered home sales saw a growth of 13 per cent to `45,190 crore over the previous year, said a report from Square Yards.
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.
Major developers like Godrej Properties and Brigade Enterprises are actively entering the Hyderabad market, further strengthening its residential sector. 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.
The city’s residential market witnessed concentrated activity in western Hyderabad, particularly in areas with seamless connectivity to the Outer Ring Road (ORR). It accounted for 46 per cent of total number of transactions, and commanded a 55 per cent share of the overall sales value. This demand is driven by key localities such as Puppalguda, Bachupally, Kukatpally, Kondapur and Miyapur.
Additionally, the government’s decision to merge 24 municipalities into the GHMC is set to streamline governance and enhance infrastructure development across the region. Collectively, these factors will continue to reinforce Hyderabad’s status as a key destination for both homebuyers and investors amongst India’s top cities.
Number of Homes priced above INR 10 crore sold in India
Mumbai Metro Region: 928
Delhi National Capital Region: 795
Hyderabad: 689
Bengaluru: 77
Chennai: 41
Pune: 25
Kolkata: 25
Source: CRE Matrix
