Hyderabad's Residential Transactions Sustain Momentum in 2024

06 Feb 2025 CW Team

The relatively slower growth in registered transactions can be attributed to the heightened scrutiny by homebuyers of project compliances post establishment of the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) in July 2024. Buyers are now evaluating projects more meticulously to ensure adherence to these standards, resulting in a more cautious approach to decision-making. This has contributed to a slowdown in transaction closures, reflected in the 12 per cent year-on-year decline in registered residential transactions during the October-December 2024 quarter, with 15,941 units recorded.

Debayan Bhattacharya, Principal Partner & Sales Director, Square Yards said, “Hyderabad property market has demonstrated significant resilience and growth post-pandemic, with sustained momentum continuing through 2024. While the fourth quarter witnessed a decline in transactions due to the impact of HYDRAA on consumer sentiment, the yearly performance tells a more positive story, with total registrations surpassing 2023 levels. Also, the government’s clarifications, ensuring projects with prior approvals remain unaffected, alongside developers recalibrating their customer outreach strategies, are steadily restoring consumer confidence. We believe the impact on sentiment will be short-lived, and in the long run, these developments will foster sustainable growth, curb illegal encroachments, and promote compliance. Moreover, as Hyderabad rapidly establishes itself as a leading IT and GCC hub, we anticipate residential demand to remain robust, driven by premium properties. The city’s evolving infrastructure and economic opportunities will continue reinforce its position as a key residential market in India.”

In October-December 2024, the sales value dropped by 5 per cent, amounting to Rs 96.17 billion compared to Rs 101.14 billion recorded in the October-December quarter of the previous year. Notably, the average home sales value rose by 8 per cent annually, with the current figure standing at Rs 60 lakh. This trend highlights a strong homebuyer preference for mid-to-high segment properties in Hyderabad.

Aparna Constructions and Estates maintained its leadership in Hyderabad’s residential market during the October-December 2024 quarter, topping both registered sales value and residential transactions. The developer recorded a sales value of Rs 5.63 billion across 627 units, with its flagship project, Aparna Zenon in Khajaguda, emerging as the standout performer. Brigade secured the second position with a sales value of Rs 2.64 billion from 217 transactions, driven by their project Brigade Citadel. Developers such as Prestige Group and K Raheja Corp also retained their stronghold within the top 10 developers with highest registered home sales value of Rs 1.25 billion and Rs 1.14 billion, respectively in October-December 2024.

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. Additionally, major developers like Godrej Properties and Brigade Enterprises are actively entering the Hyderabad market, further strengthening its residential sector.

The Hyderabad residential market continued to demonstrate resilience in 2024, with 75,512 residential transactions including apartments, plots and villas registered, marking a marginal increase compared to 74,495 transactions recorded in 2023, as per data from Square Yards. However, the value of registered home sales experienced a sharper growth, rising by 13 per cent to Rs 451.90 billion during the same period. The relatively slower growth in registered transactions can be attributed to the heightened scrutiny by homebuyers of project compliances post establishment of the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) in July 2024. Buyers are now evaluating projects more meticulously to ensure adherence to these standards, resulting in a more cautious approach to decision-making. This has contributed to a slowdown in transaction closures, reflected in the 12 per cent year-on-year decline in registered residential transactions during the October-December 2024 quarter, with 15,941 units recorded. Debayan Bhattacharya, Principal Partner & Sales Director, Square Yards said, “Hyderabad property market has demonstrated significant resilience and growth post-pandemic, with sustained momentum continuing through 2024. While the fourth quarter witnessed a decline in transactions due to the impact of HYDRAA on consumer sentiment, the yearly performance tells a more positive story, with total registrations surpassing 2023 levels. Also, the government’s clarifications, ensuring projects with prior approvals remain unaffected, alongside developers recalibrating their customer outreach strategies, are steadily restoring consumer confidence. We believe the impact on sentiment will be short-lived, and in the long run, these developments will foster sustainable growth, curb illegal encroachments, and promote compliance. Moreover, as Hyderabad rapidly establishes itself as a leading IT and GCC hub, we anticipate residential demand to remain robust, driven by premium properties. The city’s evolving infrastructure and economic opportunities will continue reinforce its position as a key residential market in India.” In October-December 2024, the sales value dropped by 5 per cent, amounting to Rs 96.17 billion compared to Rs 101.14 billion recorded in the October-December quarter of the previous year. Notably, the average home sales value rose by 8 per cent annually, with the current figure standing at Rs 60 lakh. This trend highlights a strong homebuyer preference for mid-to-high segment properties in Hyderabad. Aparna Constructions and Estates maintained its leadership in Hyderabad’s residential market during the October-December 2024 quarter, topping both registered sales value and residential transactions. The developer recorded a sales value of Rs 5.63 billion across 627 units, with its flagship project, Aparna Zenon in Khajaguda, emerging as the standout performer. Brigade secured the second position with a sales value of Rs 2.64 billion from 217 transactions, driven by their project Brigade Citadel. Developers such as Prestige Group and K Raheja Corp also retained their stronghold within the top 10 developers with highest registered home sales value of Rs 1.25 billion and Rs 1.14 billion, respectively in October-December 2024. 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. Additionally, major developers like Godrej Properties and Brigade Enterprises are actively entering the Hyderabad market, further strengthening its residential sector.

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