Real estate in Hyderabad: Property above 1 crore a new normal

Hyderabad Desk

Hyderabad: A report has highlighted a significant shift in real estate market in Hyderabad with an increase in high-value property transactions, particularly those valued at Rs 1 crore and above.

According to the report, titled “Real Insight Residential – January-March 2024,” by, approximately 14,290 housing units were sold in Hyderabad between January and March 2024. Of these, 61 percent were priced over Rs 1 crore.

Value of housing units sold in Hyderabad Percentage of total houses sold
Over Rs 1 crore 61
Rs 75 lakh – 1 crore 17
Rs 45 lakh – 75 lakh 18
Rs 25 lakh – 45 lakh 4
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Apart from trends in real estate in Hyderabad, the report highlighted the strong momentum in India’s housing market, with residential sales rising by 30 percent in the first quarter of 2024 across the top eight cities. It also noted a remarkable 41 percent year-on-year increase in residential sales.

A news report in The Pioneer quoted the group CFO of Vikas Wadhawan, saying that “the escalating demand for premium properties in Q1 2024 underscores the resilience of India’s real estate market. With rising costs of land, inputs, and construction, the once-luxurious threshold of Rs 1 crore in major cities is becoming increasingly common. Aspirations are evolving, with homebuyers seeking residences equipped with modern amenities and spacious layouts. This shift towards larger, amenity-rich homes contributes to the uptrend in property prices.”

Despite fluctuations in various price segments, the overall trend indicates promising opportunities for investors. The market is clearly moving towards a positive trajectory, driven by the evolving preferences of discerning buyers.

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