Hyderabad, August 9, 2024: The real estate market in North Hyderabad has experienced a dramatic surge in property sales over the past five years, reflecting a 179% increase in the number of units sold in the first half of calendar year 2024 (H1 CY24) compared to the same period in 2019. This surge translates into a compounded annual growth rate (CAGR) of 23% in the total value of sales, highlighting a significant upward trend in this rapidly developing region.
The increase in demand is particularly pronounced in various property segments. Homes priced between ₹1 crore and ₹2 crore have seen a remarkable 264% rise in sales, while properties valued under ₹1 crore have grown by 128%. Sales in the ₹2 crore to ₹5 crore bracket have also risen substantially, with a 157% increase reported. Furthermore, the average unit value in H1 CY24 has escalated by 35% from H1 CY19, reaching ₹1 crore, indicating a robust appreciation in property values.
During CREDAI Hyderabad’s second property show, CREDAIbility, industry experts underscored these trends. The secretary of CREDAI Hyderabad attributed the surge to several factors, including enhanced infrastructure and strategic developments. The region’s growth has been bolstered by industrial corridors that integrate North Hyderabad into the city’s broader economic framework. Notably, the construction of the tallest IT Tower at Kandlakoya, designed to accommodate 100 companies and employ 50,000 individuals, is expected to further boost the area’s profile.
Additionally, North Hyderabad has emerged as a hub for biomedical research and development, with over 200 companies, including major global players like Novartis and GlaxoSmithKline, contributing to its economic vibrancy. The establishment of the Hyderabad-Nagpur Industrial Corridor (HNIC) and the National Investment and Manufacturing Zone (NIMZ) in Zahirabad is anticipated to accelerate this growth, reinforcing North Hyderabad’s position as one of the city’s most promising and swiftly expanding regions. The region’s exceptional connectivity to nearby towns such as Gajwel, Siddipet, and Karimnagar is also enhancing its attractiveness to property buyers. As North Hyderabad continues to evolve, it is poised to rival other established areas in terms of growth and investment potential.
