Residential registrations in Hyderabad surge by 7% during July-Sept

Square Yards' sales director, Debayan Bhattacharya, noted that the growth in the IT sector and stable incomes among working professionals have revitalized the Hyderabad real estate market.

Hyderabad: The city’s real estate market has demonstrated remarkable resilience and growth, according to a report by the real estate consultancy firm Square Yards.

The report indicates that during the July to September 2024 quarter, residential registrations in the city increased by 7% compared to the same period last year.

Specifically, the number of registered properties rose from 18,314 to 19,527, reflecting a positive trend in the housing sector.

Surge in sales value noted

One of the key highlights of this growth is the surge in sales value. The total value of registered residential sales reached approximately Rs 11,718 crores, marking a significant 20% increase from the previous year.

This impressive growth underscores the strong demand for housing in Hyderabad, driven by various factors including economic stability and ongoing infrastructure development.

IT sector growth in Hyderabad key factor

Square Yards’ sales director, Debayan Bhattacharya, noted that the growth in the IT sector and stable incomes among working professionals have revitalized the Hyderabad real estate market.

Areas such as Gachibowli and Madhapur, along with Kokapet and Narsingi, are witnessing heightened demand due to improved connectivity to IT hubs and the airport. This enhanced accessibility has made these regions increasingly attractive for residential living.

Moreover, Hyderabad is emerging as one of the fastest-growing real estate markets in India. The city’s appeal to domestic companies for investment remains strong, supported by an influx of migrants seeking housing.

This trend has led to a notable increase in demand for residential properties across various segments, catering to diverse buyer preferences.

Lastly, there has been a marked increase in demand for luxury and ultra-luxury homes over the past few years.

This surge is attributed to rising incomes and enhanced infrastructure facilities, making high-quality living spaces more desirable among buyers.