Hyderabad Residential Properties Witness a Massive Surge

SIBY JEYYA
In the third quarter of 2024, Hyderabad's residential property market saw a sharp price increase. In addition to hyderabad, rates increased in six other cities.
 
Hyderabad sees the highest jump in residential property prices
Hyderabad had the most price increase, according to real estate services provider ANAROCK, even though prices increased in the other five cities on the list as well.
In Q3 of 2024, prices increased by 4% over Q2 of the same year. Nonetheless, hyderabad has had the largest percentage shift in residential property prices among the top seven indian cities, rising from 32% in Q3 2023 to 32% in Q3 2024.
Below are the city-level price trends (in INR/sq.ft):
"Due to escalating input costs as well as significant sales growth, average residential property prices across the top seven cities collectively rose by 23 percent annually – from INR 6,800 per sq. ft. in Q3 2023 to INR 8,390 per sq. ft. in Q3 2024," the report said, citing the cause of the price increase.
Housing sales
Sales of residential real estate decreased even as prices rose in hyderabad and other major cities.
Kolkata had the biggest loss in sales, with a 25% decrease from Q3 2023 to Q3 2024.
Hyderabad had the second-highest percentage of sales declines. From 16,375 units in Q3 2023 to 12,735 units in Q3 2024, the city's sales decreased.
Below are the city-wise absorption trends (in units):

Meanwhile, hyderabad added approximately 13,890 units in Q3 2024, compared to 24,900 units in Q3 2023 – a 44 percent yearly decline.

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