Hyderabad Registers Impressive 16,808 Transactions In Q4, 2023
In a robust display of economic activity, Hyderabad witnessed a surge in residential sales, recording an impressive 16,808 transactions in Q4, 2023 amounting to a substantial Rs 9497 crores, according to IGR data sourced by Square Yards. Notably, Aparna Construction and Estates maintained its leading position across quarters, topping the charts again in terms of volume and number of units sold with 621 units totaling Rs 510 crores. Sumadhura Infracon, the new entrant in the top 10 developers list, followed with 145 units sold worth Rs 196 crores in the October-December period, according to data sourced by Square Yards from property registration records. Myscape Properties was another new entrant in the top developers list while BSCPL Infrastructure strengthened its position in terms of sales value. Sumadhura Infracon and Aparna Construction and Estates also shone in terms of top projects sold by value and number of units sold. While Sumadhura Horizon claimed the top selling project by sale value recording Rs 199.8 cores worth property sold in Q4, Aparna Serenity led in transactions with 249 units sold. Hyderabad’s IT industry is the driving force behind its real estate boom. The city boasts of offices of top IT companies including Google, Microsoft and Facebook, leading to a massive influx of IT professionals and high demand for good quality residential housing. Q4, 2023 saw the majority of the transactions (8058) in the West Zone, the city’s buzzing IT corridor having real estate hotspots like Gachibowli, HITECH City, Madhupur, Manikonda etc. With proximity to major employment hubs and excellent retail and social infrastructure, this part of Hyderabad has been a top draw for high-quality residential housing among the high-calibre IT and other skilled workforce. However, with major micro markets in West Zone getting saturated over the years, the demand has spilled over to Central Business District in Central Zone, which is evident in the 1323 transactions totaling Rs 1017 crores. East Zone witnessed a surge in transactions (2536) too, worth Rs 965 crores, driven by the growth of IT parks, increasing popularity of metro connectivity, and extensive civic infrastructure development in Pocharam, Uppal, Habsiguda etc. North Zone also saw an upward swing with 2179 transactions positioning it as a promising investment destination. Areas like Kukatpally, Miyapur, Shamirpet, Bachupally have witnessed good traction, due to the availability of schools, educational institutions, healthcare facilities, and improved infrastructure playing pivotal roles in its growth. While Hyderabad has made giant strides in infrastructure development, the city’s enticing combination of economic growth, affordability, proactive government support and rich cosmopolitan culture, has made it one of the most sought-after investment destinations in India. With business-friendly government policies, new infrastructure projects, expansion of MNCs and start-ups coming into Hyderabad, the city remains a prime investment hotspot in 2024 and beyond.
Tags : economic activity Hyderabad IT corridor Sumadhura Infracon Aparna Construction economic growth affordability proactive government