Hyderabad has witnessed a sale of 38,660 houses worth ₹58,841 crore in the first six months of this year, according to the Hyderabad Housing Report released by the Hyderabad chapter of the Confederation of Real Estate Developers Association of India (CREDAI).
The report highlights that the average value of a unit sold in H1 2024 was ₹1.5 crore, with homes priced between ₹1 crore and ₹2 crore being the highest-performing budget segment.
In North West Hyderabad, which includes Serilingampally, Kukatpally, and Patancheru, 25,909 units worth ₹36,276 crore were sold. North East Hyderabad, including Malkajgiri, Kapra, and Keesara, saw the sale of 4,796 units worth ₹4,731 crore.
South West Hyderabad, encompassing Mehdipatnam, Rajendra Nagar, and Shamshabad, reported the sale of 4,957 units valued at ₹14,342 crore. In South East Hyderabad, including Dilsukhnagar, LB Nagar, Saroornagar, and Hayathnagar, 2,998 units worth ₹3,494 crore were sold.
Out of the total sales, 17,997 units were priced below ₹1 crore, 14,299 units were priced between ₹1 crore and ₹2 crore, 4,899 units were priced between ₹2 crore and ₹5 crore, and 1,085 units were priced between ₹5 crore and ₹10 crore. The value of these units was ₹12,532 crore for units priced below ₹1 crore, ₹19,534 crore for units priced between ₹1 crore-₹2 crore, ₹14,487 crore for units priced between ₹2 crore and ₹5 crore, ₹7,427 crore for units priced between ₹5 crore and ₹10 crore, and ₹4,861 crore for units priced above ₹10 crore.
The report also noted the market share based on price per square feet: 58% of sales were priced below ₹7,000 per square feet, 27% were priced between ₹7,000-₹9,000 per square feet, 11% were priced between ₹9,000-₹12,000 per square feet, and 4% were priced above ₹12,000 per square feet.
“Comparing Hyderabad with Bangalore and Gurugram, most sales in Hyderabad still occur in the price segment of less than ₹7,000 per square feet.” Besides, the city had approximately 1.05 lakh unsold houses in the first half of 2024.
The report states, “Though the unsold stock exceeds one lakh units in Hyderabad, at the current pace of sales, this inventory will be absorbed within 16 months.” The launch of new units has steadily declined from approximately 50,000 units in H1 2022 to around 22,000 in H1 2024.
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