Hyderabad Real Estate: Under-Construction Property Prices Skyrocket by 11.9% – What’s Fueling the Surge?
Hyderabad's under-construction property prices have surged by 11.9% in Q4 2024. Explore the factors driving this price hike and what it means for buyers and developers in the city's booming real estate market.
Hyderabad’s under-construction property prices have surged by 11.9% in Q4 2024. Explore the factors driving this price hike and what it means for buyers and developers in the city’s booming real estate market.
Hyderabad’s residential market has shown notable growth in the under-construction segment during the fourth quarter of 2024 (October–December), as revealed by Magicbricks Research. The supply of under-construction properties increased by 4.5% year-on-year (YoY), highlighting the city’s strong real estate dynamics driven by its growing economic base and rising demand for premium housing.
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Growth in Prices and Supply
The average price of under-construction properties in Hyderabad saw a significant rise of 11.9% YoY, reaching INR 9,090 per square foot (psf). This price surge reflects a shift in developer focus toward high-quality residential projects catering to evolving buyer preferences. Developers have been increasingly targeting premium segments, offering properties that appeal to homebuyers looking for modern amenities and superior living standards.
Nationwide Trend in Under-Construction Properties
Across India’s key residential markets, the under-construction segment has shown a healthy growth trend. The average price of under-construction properties nationwide stood at INR 12,064 psf, with a 46.8% YoY increase in supply across major cities. This growth in both supply and price points to the resilience of India’s residential real estate sector as developers race to meet rising demand from potential homebuyers.
Developer Activity Reflects Strong Market Demand
As per the data from Magicbricks, major cities like Bengaluru, Gurgaon, and Greater Noida saw significant increases in both the supply and price of under-construction properties. For instance, Bengaluru’s prices increased by 25.7% YoY, and supply surged by 114.08%. Similarly, Gurgaon experienced a 20.5% rise in prices with a near 99% growth in supply. This spike in under-construction properties aligns with the increased demand from buyers looking for new homes, especially as developers accelerate project timelines to meet buyer expectations.
Hyderabad’s Position in the National Market
In comparison to other cities, Hyderabad’s real estate market showed moderate price growth and supply increase. While the city’s under-construction supply grew by 4.5%, the average price per square foot increased by 11.9%. These growth figures place Hyderabad on a steady growth trajectory, alongside other growing urban hubs across India.
Positive Outlook for Hyderabad’s Real Estate Market
The trend in Hyderabad’s residential market, coupled with the overall positive performance of under-construction properties across India, suggests continued growth for the city’s real estate sector. Developers are expanding their offerings in both affordable and premium segments, catering to the diverse needs of homebuyers. This surge in demand and supply shows the ongoing resilience of India’s residential real estate market, even amidst broader economic challenges.
As the market continues to evolve, Hyderabad’s real estate sector is expected to maintain its positive momentum, driven by infrastructure development, economic growth, and an increasing preference for high-quality residential living options.
