HYDERABAD: The city’s residential market continues to witness steady growth in the under-construction segment, with supply increasing by 4.5% year-on-year (YoY) in the fourth quarter (October–December) of 2024, according to a recent report by Magicbricks.
The report revealed that the average price of under-construction properties in Hyderabad rose by 11.9% YoY, reaching Rs 9,090 per square foot (psf). This price increase underscores the city’s dynamic real estate market, which is bolstered by an expanding economic base and a growing preference for premium housing options.
The surge in prices reflects developers’ focus on delivering high-quality residential projects to cater to evolving buyer aspirations. Hyderabad’s real estate market has positioned itself as a hub for premium developments, driven by robust demand and the city’s economic growth.
The Magicbricks report highlighted a broader trend across major cities, where the supply of under-construction residential properties increased by 46.8% YoY. This uptick is attributed to heightened developer activity in response to strong market demand. The average price of under-construction properties across key markets in India now stands at Rs 12,064 psf.
The increased focus on under-construction properties aligns with the rising demand, as developers expedite project timelines to cater to potential homebuyers. This reflects a resilient residential real estate market, with developers actively contributing to both the affordable and premium housing segments.