The Hyderabad real estate market has experienced a notable uptick in the sale of ultra-luxury homes over the past eight months, signalling a robust growth trend. According to recent report, Hyderabad has seen a remarkable two-fold increase in transactions involving ultra-luxury residences from January to August this year. This upturn contrasts with the market’s performance in 2023, reflecting a growing appetite for high-end properties in the city.
The data reveals that Hyderabad has recorded two significant ultra-luxury home sales in Jubilee Hills this year, each deal valued at approximately Rs 80 crore. This represents a substantial improvement from the single sale registered in 2023 within the same period. Additionally, areas such as Kokapet, Bachupally, and Tellapur have witnessed notable price hikes, marking them as some of the top ten locales in India with the highest property price appreciation.
Kokapet has particularly stood out with an impressive 89% surge in property prices, soaring from Rs 4,750 per square foot in 2019 to Rs 9,000 per square foot in early 2024. This escalation underscores the increasing desirability and premium valuation of real estate in the area. Ultra-luxury homes, defined as properties costing more than Rs 40 crore, have predominantly seen sales in Mumbai, which recorded 21 such transactions amounting to approximately Rs 2,200 crore. Hyderabad, alongside other major markets like Gurugram and Bengaluru, contributed to a total of 25 ultra-luxury home deals this year. Notably, nine of these transactions exceeded Rs 100 crore, all of which were in Mumbai.
Commenting on the market dynamics, it is stated, “The entire year of 2023 saw around 61 high-value residential deals across Mumbai, Hyderabad, and Gurugram, aggregating to approximately INR 4,456 crore. With four months remaining in 2024 and the upcoming festive season, we anticipate more substantial residential transactions before the year concludes.” This data highlights Hyderabad’s burgeoning status in the ultra-luxury real estate segment and suggests a promising future for high-end property investments in the city.
