Hyderabad’s Outer Ring Road Drives Real Estate Growth

Hyderabad’s real estate market continues to exhibit robust growth, with the September quarter of 2024 marking a significant milestone. The city recorded a 7% year-on-year increase in registered residential transactions, totaling 19,527 units. This growth is fueled by a combination of factors, including a thriving IT sector, increasing job opportunities, and a growing population.

A notable trend in Hyderabad’s real estate market is the increasing demand for properties along the Outer Ring Road (ORR). Areas like Kokapet, Narsingi, and Gachibowli have emerged as popular residential destinations, offering excellent connectivity to the city’s IT hubs and international airport. Buyers are attracted to these areas due to their strategic location, modern infrastructure, and the availability of a wide range of housing options, from affordable to luxury. The average price of a residential property in Hyderabad has also seen a significant increase. The average registered home sales value reached Rs. 60 lakhs, reflecting a 13% year-on-year growth. This upward trend can be attributed to factors such as rising construction costs, increased demand for premium properties, and the appreciation of property values in prime locations.

Leading developers like Aparna Constructions and Prestige Group have played a crucial role in shaping Hyderabad’s real estate landscape. Aparna Constructions, in particular, has emerged as a dominant player, with 625 units sold in the September quarter, amounting to Rs. 510 crores in sales value. Prestige Group, another major player, has also recorded impressive sales figures, driven by strong demand for its projects in prime locations. The positive outlook for Hyderabad’s real estate market is further strengthened by the government’s focus on infrastructure development and the city’s growing reputation as a global technology hub. As the city continues to attract talent and investment, the demand for residential and commercial properties is expected to remain strong.