Hyderabad residential real estate market displayed resilient growth in the under-construction segment during Q4 2024 (October–December), with an impressive 4.5% year-on-year (YoY) increase in supply, according to the latest report by Magicbricks Research. This growth signifies the city’s strong real estate dynamics, backed by its expanding economic base and increasing demand for premium housing options.
Price Surge in Hyderabad’s Under-Construction Properties
The average price of under-construction properties in Hyderabad saw a notable increase of 11.9% YoY, reaching INR 9,090 per square foot (psf) in Q4 2024. This price rise reflects developers’ growing focus on high-quality residential projects to meet evolving buyer aspirations. As demand continues to rise, developers are enhancing the quality of projects, providing prospective homeowners with premium options across the city.
National Market Trends in Under-Construction Properties
Nationally, the under-construction residential supply across major cities increased by 46.8% YoY, highlighting a surge in developer activity driven by strong market demand. On average, the price for under-construction properties across key markets stood at INR 12,064 psf. The increasing demand for both affordable and premium housing segments further supports the notion that India’s residential real estate market remains robust and resilient, with developers actively contributing to supply.
Growing Demand Drives Developer Activity
The rise in under-construction property supply is attributed to developers’ efforts to meet the demand of potential homebuyers, with many accelerating project timelines. The steady increase in supply, particularly in the premium housing sector, underlines the fact that both builders and buyers are investing in the evolving real estate landscape.
In Hyderabad, this growth trend is mirrored by the rising preference for premium residential projects, especially in key localities like Hitech City and Gachibowli, where IT and tech industries are booming. As the city continues to expand economically, the demand for quality housing has soared, prompting developers to offer homes equipped with modern amenities and sustainable features.
Comparing Price and Supply Trends Across Major Cities
Here’s a quick look at how Hyderabad compares with other key cities in India:
City | Price Change (YoY) | Avg. Price (psf) | Change in Supply (YoY) |
---|---|---|---|
Hyderabad | 11.9% | 9090 | 4.5% |
Bangalore | 25.7% | 10988 | 114.08% |
Chennai | 14.8% | 9260 | 8.2% |
Gurgaon | 20.5% | 14579 | 98.89% |
Mumbai | 12.8% | 27725 | 21.25% |
Pune | 16.1% | 9119 | 48.4% |
India | 8.39% | 12064 | 46.85% |
Key Insights and Market Outlook
- Hyderabad’s under-construction residential market continues to grow, reflecting both strong demand and developer activity.
- The city’s price rise of 11.9% YoY indicates a growing preference for high-quality housing, particularly in the premium segments.
- Subsidized trade-ins and government incentives are also likely contributing to this shift, pushing homebuyers to opt for newer properties with modern features.
- The city remains attractive to investors and homebuyers alike, with a steady rise in supply expected to continue as the real estate sector adjusts to buyer needs.
Hyderabad’s real estate sector shows a promising future with consistent growth, particularly in the under-construction property segment, providing a wealth of opportunities for buyers, investors, and developers.