Hyderabad sees significant surge in residential property price over 5 years; Kokapet tops list with 89 pc increase

In 2019, the average price in Kokapet was Rs 4,750 per sq. ft., which surged to Rs 9,000 per sq. ft. by the first half of 2024

Published Date – 26 August 2024, 08:47 PM

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Hyderabad: Hyderabad’s real estate market has seen remarkable growth over the last five years, with several micro-markets recording substantial price appreciation, according to the recent ANAROCK research report.

Leading the charge is Kokapet, which experienced an impressive 89 per cent rise in residential property prices. In 2019, the average price in Kokapet was Rs 4,750 per sq. ft., which surged to Rs 9,000 per sq. ft. by the first half of 2024, the ANAROCK report said. This growth is largely driven by the area’s attraction as a premium residential hub, with 52 per cent of new launches falling in the ultra-luxury segment, priced above Rs 2.5 crore.

Following Kokapet, Bachupally saw a 57 per cent increase in average property prices, rising from Rs 3,690 per sq. ft. in 2019 to Rs 5,800 per sq. ft. in H1 2024. Meanwhile, Tellapur recorded a 53 per cent hike, with prices going from Rs 4,819 per sq. ft. to Rs 7,350 per sq. ft. during the same period.

Overall, Hyderabad has witnessed the highest city-level price appreciation among India’s top seven cities, with an average increase of 64 per cent between 2019 and H1 2024.

Meanwhile, the city has witnessed a substantial rise in new residential supply, particularly in key areas like Tellapur.

Between 2019 and H1 2024, Tellapur saw the launch of 18,960 new units and average prices at Rs 7,350 per sq. ft. as of H1 2024, up from Rs 4,819 per sq. ft. in 2019 – rising by 53 per cent. Of the total new supply, 66 per cent was in the mid and premium segments, followed by 34 per cent in more than Rs 1.5 Cr bracket.

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