Hyderabad: The real estate market in Hyderabad has seen a rise in the sales of ultra-luxury homes over the past eight months.
According to a report by real estate services company ANAROCK, 25 ultra-luxury homes were sold this year up to August across Mumbai, Hyderabad, NCR’s Gurugram, and Bengaluru.
Hyderabad real estate sees two-fold rise in sales of ultra-luxury homes
From January to August this year, Hyderabad experienced a two-fold increase in ultra-luxury home sales. The city recorded two deals worth approximately Rs 80 crore in Jubilee Hills. This marks a jump from one sale in 2023 to two in the first eight months of 2024.
Meanwhile, Hyderabad’s real estate market has also seen a significant surge in areas like Kokapet, Bachupally, and Tellapur, with these locations showing considerable price hikes. They rank among the top 10 areas in India experiencing a rise in property prices.
Kokapet sees highest surge in prices
Kokapet witnessed the highest increase in Hyderabad, with prices surging by 89%, from Rs 4,750 per sq. ft in 2019 to Rs 9,000 per sq. ft in the first half of 2024.
Below are the price comparisons per sq. ft in 2019 and H1 2024 for three key areas in Hyderabad:
| Area | Per sq. ft price in 2019 (in Rs) | Per sq. ft price in H1 2024 (in Rs) | Price appreciation (in percent) |
| Kokapet | 4,750 | 9,000 | 89 |
| Bachupally | 3,690 | 5,800 | 57 |
| Tellapur | 4,819 | 7,350 | 53 |
What are ultra-luxury homes?
A home is classified as ultra-luxury if it costs more than Rs 40 crore. The highest sales of such homes were recorded in Mumbai, with 21 ultra-luxury residential deals totaling approximately Rs 2,200 crore.
Of the 25 ultra-luxury home deals this year, at least 9 were valued at over Rs 100 crore each, all in Mumbai.
Following is the number of ultra-luxury homes sold in Hyderabad and other cities in 2022, 2023, and 2024:
| Year | Delhi NCR | Mumbai | Hyderabad | Bengaluru | Total |
| 2022 | 2 | 11 | 0 | 0 | 13 |
| 2023 | 4 | 56 | 1 | 0 | 61 |
| 2024 (till August) | 1 | 21 | 2 | 1 | 24 |
Commenting on the data, Anuj Puri, Chairman of Anarock Group, said, “The whole of 2023 saw about 61 deals with a cumulative sales value of approx. INR 4,456 Cr in Mumbai, Hyderabad, and Gurugram. With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through.”
