High sales recorded in the October-December quarter of 2023
Sales of houses in Hyderabad are going in full swing. In Q4 2023 (October–December), sales of Rs 9,497 crore were recorded through 16,808 transactions, according to Square Yards. Aparna Constructions stood at the top in terms of sales value and transactions in this quarter. A total of 621 units were sold for Rs. 510 crore.
“Compared to other metropolitan cities in the country, property prices in Hyderabad are affordable. It provided an opportunity for investors and home buyers to enter the market at a profitable price. Moreover, investor-friendly policies, developing infrastructure, improved connectivity, and stable property prices have driven the Hyderabad market forward,” said Debayan Bhattacharya, Principal Partner, Square Yards.
The Hyderabad IT industry is the main reason for the real estate boom. The presence of top IT companies like Google, Microsoft, and Facebook has given a good boost to the real estate sector. As IT professionals flock to the city, the demand for quality homes has increased. And in Q4 of 2023, most of the transactions took place in the West Zone. As many as 8058 units were sold in the IT corridor in areas like Gachibowli, Hi-Tech City, Madhapur, and Manikonda. Sales worth Rs. 5,383 crore were made here, while 1017 crore transactions were done through 1323 units in Central Hyderabad. Sales also increased in the East Zone. There, 2536 units worth Rs 965 crore were sold. In the North Zone, 2179 units were sold worth Rs. 898 crore. In the South Zone, sales of Rs. 735 crore were made with 1607 transactions. In Secunderabad, sales of houses worth Rs. 497 crore were recorded with 1104 transactions.
Hyderabad is the focal point for housing demand.
Hyderabad has become the focal point for housing demand in recent times. Reasonable prices here offer lucrative deals for investors and new home buyers. The real estate sector has been boosted by the development of infrastructure and an increase in job opportunities, especially with the arrival of IT and BFSI companies in Hyderabad. Poulomi Estates MD Prashant Rao stated that the Hyderabad real estate sector will perform better in the context of current demand and growth.
