Hyderabad sees Rs 9,497 cr home sales in Q4

Hyderabad: The thriving IT industry in Hyderabad is propelling a significant surge in the city's real estate sector, driven by the presence of major IT companies. The influx of IT professionals has created a substantial demand for high-quality residential housing, reflecting the robust economic activity in the region. This trend is vividly evident in the statistics from Q4 (Oct - Dec), 2023, where Hyderabad witnessed an impressive 16,808 housing sale transactions totaling Rs 9,497 crore, as reported by IGR data obtained through real estate marketplace Square Yards.

Aparna Construction and Estates maintained its leading position across quarters, topping the charts again with 621 units sold for Rs 510 crore. Sumadhura Infracon is the new entrant in the top 10 developers list. The developer sold 145 units worth Rs 196 crore in the October-December period, according to data sourced by Square Yards from property registration records.

“Hyderabad’s ascent as a city of promise stems from its affordable property prices compared to other metropolitan cities in India. This favourable pricing has provided an excellent opportunity for investors and homebuyers to enter the market at a lucrative price point. Besides, the city’s sustained upward trajectory in property prices over the years fueled by investor-friendly policies, burgeoning infrastructure and enhanced connectivity has propelled Hyderabad’s real estate market,” said Debayan Bhattacharya, Principal Partner, Square Yards.

Sumadhura Infracon and Aparna Construction and Estates were also leading in terms of top projects sold by value and number of units. While Sumadhura Horizon claimed the top selling project by sale value recording Rs 199.8 core, Aparna Serenity led in transactions with 249 units sold.

Square Yards in a release said that with proximity to major employment hubs and retail and social infrastructure, West Zone has been a top draw for high-quality residential housing among the high-calibre IT and other skilled workforce. In the IT corridor majority of the transactions (8,058) took place in Q4.