In a testament to its economic growth, Hyderabad witnessed a rise in residential sales figures, touching a handsome 16,808 transactions for the last quarter of the calendar year 2023 (October to December). This cumulatively amounted to a whopping Rs. 9,497 crore according to IGR data that was sourced by Square Yards.
Aparna Construction and Estates held onto its leading position in the market for the quarter once again, topping in terms of the unit sales numbers and volumes. It sold 621 units worth Rs. 521 crore in this period. Sumadhura Infracon, a new player in the top-10 developers tally, sold 145 units valued at Rs. 196 crore for the period as per Square Yards sourced data. Myscape Properties was another new market entrant that made it to the top-10 list while BSCPL Infrastructure also consolidated its position by way of sales values.
Principal Partner, Square Yards, Debayan Bhattacharya, stated that Hyderabad has risen considerably as a city that heralds a lot of promise, while adding that this can be attributed towards its comparatively affordable prices of property which offers great opportunities for homebuyers and investors to venture into the market at attractive price points. He also added that the sustained upward rise in property prices over the last few years and investor-friendly policies have further propelled the realty market to unprecedented levels, in tandem with infrastructural development and improvements in connectivity.
Sumadhura Infracon and Aparna Construction and Estates also made a mark in terms of the top projects sold in terms of value and also the number of unit sales. Sumadhura Horizon posted Rs. 199.8 crore of property sales for Q4 while Aparna Serenity had the highest number of transactions at 249 units sold. The IT industry in the city is a major growth driver for real estate, with Hyderabad being home to the offices of top entities like Microsoft, Google, Facebook, and others. There has also been a huge influx of IT and ITeS professionals into the city which has also led to a surge in residential housing demand.
Q4 2023 witnessed most transactions, i.e. 8,058 in the West Zone, which is an IT hub with prime locations like HITECH City, Gachibowli, Manikonda, Madhapur, and other areas. This part of the city has benefited from its connectivity to leading employment and business hubs, along with top-notch social and retail infrastructure. Demand has also been observed in the Central Business District in the Central Zone with a slight saturation in the West Zone. This area totaled 1,323 transactions valued at Rs. 1,017 crore. East Zone saw an increase in transactions at 2,536 deals valued at Rs. 956 crore. This was majorly driven by the development of IT Parks along with better metro connectivity and widespread development of civic facilities throughout locations like Habsiguda, Uppal, Pocharam, and other areas. North Zone witnessed 2,179 transactions with places like Miyapur, Kukatpally, Bachupally, and Shamirpet witnessing healthy demand due to amenities like educational institutions and healthcare along with better infrastructural facilities.
Hyderabad has taken a giant leap in terms of infrastructure growth while its affordability, economic progress, pro-active Government support and policies, and a vibrant cosmopolitan environment have transformed it into a coveted destination for investments in the country. With a business-friendly policy framework in place and new infrastructural developments on the horizon in addition to MNC expansion and the influx of more startups into the city, it continues to be a prime hotspot for investments in 2024 and also in future years.
For a detailed report on this read the articles we were featured in:
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Published Date: Jan 13, 2024
