Amaravati, Guntur and Vijaywada emerge as new residential favourites in South India

19 Dec 2024 CW Team

According to Magicbricks, India’s leading real estate portal, Amaravati, Guntur and Vijaywada are emerging as the new residential favourites in South India in 2024.

Based on the preferences of over 2 crore customers on the platform, Amaravati (49.10% YoY), Guntur (38.27% YoY) and Vijaywada (31.95% YoY) enjoyed increased searches (demand). At the same time, due to high uptick, residential supply (listings) in Guntur ( -22.57% YoY), Amaravati (-6.7% YoY) and Vijayavada ( -18.46% YoY) reduced.

Due to demand and supply mismatch, residential prices increased substantially in these markets. Average residential prices in Vijayawada increased 20.06% YoY to reach INR 5759 psf in Q3 (Jul-Sep 2024). Average residential prices in Guntur increased 3.27% YoY to INR 4962 psf and in Amaravati it increased 3.29% YoY to INR 4470 psf shared the portal.

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