Hyderabad Experiences Major Rise in Residential Property Prices Over the Past 5 Years
In 2019, the average price in Kokapet was Rs 4,750 per sq. ft., surging to Rs 9,000 per sq. ft. by the first half of 2024.
Property Prices
Hyderabad’s real estate market has witnessed significant growth over the past five years, with many micro-markets showing considerable price increases, according to the latest ANAROCK research report.
Kokapet stands out with an impressive 89% rise in residential property prices. The average price per square foot in Kokapet jumped from Rs 4,750 in 2019 to Rs 9,000 by the first half of 2024. This surge is largely attributed to Kokapet's appeal as a premium residential area, where 52% of new launches are in the ultra-luxury segment, priced above Rs 2.5 crore.
Following Kokapet, Bachupally experienced a 57% increase in average property prices, with rates rising from Rs 3,690 per sq. ft. in 2019 to Rs 5,800 per sq. ft. by the first half of 2024. Similarly, Tellapur saw a 53% rise, with prices climbing from Rs 4,819 per sq. ft. to Rs 7,350 per sq. ft. over the same period. Overall, Hyderabad has led in city-level price appreciation among India's top seven cities, with an average increase of 64% between 2019 and the first half of 2024.
The city has also experienced a significant increase in new residential supply, especially in key areas like Tellapur. Between 2019 and the first half of 2024, Tellapur saw the launch of 18,960 new units. The average price in Tellapur reached Rs 7,350 per sq. ft. by mid-2024, up from Rs 4,819 per sq. ft. in 2019, reflecting a 53% rise. Of the new supply, 66% was in the mid and premium segments, while 34% fell into the over Rs 1.5 crore price bracket.
