Hyderabad Housing Prices Soar, Gachibowli Leads with 86% Growth in Six Years
Residential property prices in Hyderabad’s prime areas have demonstrated robust growth over the past six years, outstripping the appreciation seen in the city’s peripheral localities.
Hyderabad Housing Prices Soar, Gachibowli Leads with 86% Growth in Six Years
According to the latest report by ANAROCK, prime areas like Gachibowli and Kondapur experienced an 86 per cent surge in housing prices.
In Gachibowli, prices climbed from Rs 4,775 per square foot in 2019 to Rs 8,900 per square foot in Q3 2024. Kondapur mirrored this trend, with rates rising from Rs 4,620 to Rs 8,600 per square foot during the same period.
In contrast, peripheral areas like Kompalli and LB Nagar recorded comparatively moderate growth. Kompalli saw a 49 per cent price increase, from Rs 4,010 per square foot in 2019 to Rs 5,970 per square foot in Q3 2024. LB Nagar and Tellapur followed similar trajectories, reflecting the slower pace of appreciation in the city's outer regions.
This trend contrasts with patterns observed in other major Indian cities, where peripheral areas have shown greater price appreciation than prime locations. For example, Bengaluru’s Gunjur, a suburban locality, recorded a 69 per cent price rise, from Rs 5,030 per square foot in 2019 to Rs 8,500 per square foot in Q3 2024. Prime areas like Thanisandra Main Road in Bengaluru saw a slightly lower growth of 62 per cent, with prices increasing from Rs 5,175 to Rs 8,400 per square foot during the same period.
Similarly, in the National Capital Region (NCR), the Noida Expressway—a peripheral area—registered a 66 per cent jump in housing prices, rising from Rs 5,075 to Rs 8,400 per square foot. In comparison, the prime area of Raj Nagar Extension saw a 55 per cent increase, with prices moving from Rs 3,260 to Rs 5,050 per square foot.
Mumbai's Metropolitan Region (MMR) also exhibited this trend. Panvel, a suburban locality, experienced a 58 per cent price rise, with rates going from Rs 5,520 per square foot in 2019 to Rs 8,700 in Q3 2024. Prime localities like Worli and Lower Parel saw slower growth, with Worli recording a 37 per cent rise, from Rs 38,560 to Rs 53,000 per square foot, and Lower Parel achieving 49 per cent growth, from Rs 34,660 to Rs 51,660 per square foot.
Pune, Kolkata, and Chennai reflected similar patterns, where peripheral areas such as Wagholi, Madhyamgram, and Navalur registered higher growth rates compared to their respective prime regions like Wakad, Joka, and Anna Nagar.
