Hyderabad’s real estate shows signs of slowdown, unit sales dip significantly-Read

According to ANAROCK data, city saw 7% drop in number of homes sold between April and September 2024 compared to the same period last year

Hyderabad: Hyderabad’s real estate market has shown signs of slowing down in 2024, as unit sales in the first half of the fiscal year experienced a notable decline.

According to the latest ANAROCK data, between April and September 2024, the city saw a drop of nearly 7 per cent in the number of homes sold compared to the same period in 2023.

Despite a sharp rise in the average ticket size of homes sold — up by 37 per cent, from Rs 84 lakh to Rs 1.15 crore — the total volume of units sold fell from nearly 30,000 to just over 27,800.

This drop in sales volume suggests that the once-booming luxury real estate market in the city may be facing a cooling period.

The city’s performance stands in contrast to the ongoing boom in other major cities. Bengaluru, for instance, recorded a 44 per cent increase in the average ticket size of homes sold, while NCR saw a staggering 56 per cent rise.

Hyderabad, while witnessing a substantial growth in the value of homes sold, lagged behind in terms of the pace of growth. According to data, the total sales value in the city rose from Rs 25,059 crore to Rs 31,993 crore, yet this did not fully compensate for the decline in volume.

The slowdown in Hyderabad’s real estate sales is further highlighted when compared to other cities in the top seven real estate markets across India.

NCR and Bengaluru have maintained strong growth in the luxury segment, driven by steady demand for high-value properties.

NCR saw the highest growth in ticket size, rising from Rs 93 lakh to Rs 1.45 crore between April and September 2024. Bengaluru, with a similar rise, moved from Rs 84 lakh to Rs 1.21 crore.

Meanwhile, cities such as Pune and Chennai have also reported growth in the average ticket size of properties sold, though the increases were more modest compared to those in Bengaluru and NCR.
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Sales in India’s top realty markets: A comparison

Bengaluru
H1 FY24: 31,440 units (₹26,274 cr)
H1 FY25: 31,380 units (₹37,863 cr)

Hyderabad
H1 FY24: 29,940 units (₹25,059 cr)
H1 FY25: 27,820 units (₹31,993 cr)

Chennai
H1 FY24: 10,435 units (₹7,516 cr)
H1 FY25: 9,530 units (₹9,015 cr)

Pune
H1 FY24: 43,565 units (₹28,590 cr)
H1 FY25: 40,190 units (₹34,033 cr)

Kolkata
H1 FY24: 11,095 units (₹5,851 cr)
H1 FY25: 8,620 units (₹5,265 cr)

NCR
H1 FY24: 32,315 units (₹30,154 cr)
H1 FY25: 32,125 units (₹46,611 cr)

MMR
H1 FY24: 76,410 units (₹1,12,356 cr)
H1 FY25: 77,735 units (₹1,14,529 cr)

Total
H1 FY24: 2,35,200 units (₹2,35,800 cr)
H1 FY25: 2,27,400 units (₹2,79,309 cr)