Hyderabad’s real estate market has witnessed a significant upswing in property registrations and building permissions over the past seven months. According to official statistics, the Hyderabad metropolitan area recorded a 12.5% increase in property registrations from December 2023 to June 2024, compared to the same period a year earlier.
This surge in realty activity is further evidenced by a notable 13% rise in building permissions within the Greater Hyderabad Municipal Corporation (GHMC). The number of permissions granted jumped from 6,900 between December 2022 and June 2023 to 7,809 during the same timeframe in the subsequent year. The data reveals that the last seven months saw approximately 218,000 property registrations within the Hyderabad Metropolitan Development Authority (HMDA) limits, up from around 194,000 in the previous year. This trend is mirrored in building permissions both within HMDA and GHMC jurisdictions. Since the new Congress government assumed office in Telangana on December 7, 18,077 permissions have been granted, compared to 17,911 in the same period last year. The registration of open plots has experienced a modest increase of 7%, rising from 50,535 in the previous year to 54,111 in the current period. This uptick has occurred despite the Lok Sabha elections and the enforcement of the model code of conduct. This increase in real estate activity has had a positive impact on the state’s revenue. The registrations department reported earnings of ₹4,670 crore from HMDA and GHMC limits in the past seven months, representing a ₹241 crore increase from the preceding seven-month period, which stood at ₹4,429 crore. This figure is also ₹270 crore higher than the revenue generated between December 2022 and June 2023.
Officials are optimistic about a further boost in the realty market, driven by several upcoming government projects. Key developments such as the second phase of the metro rail, the expansion of Greater Hyderabad up to the Outer Ring Road (ORR), the Musi Riverfront Development, and two elevated skyways are anticipated to significantly enhance the city’s infrastructure. These projects, combined with the state government’s focus on strengthening urban infrastructure, are expected to sustain the growth momentum in Hyderabad’s real estate sector.
