Hyderabad: Wealth creation through investments in real estate, infrastructure development and shift towards luxury homes has led housing prices to surge by 81 per cent in Hyderabad over the last five years. The city ranks fourth among India’s top-10 cities registering increase in price of new launches from Rs4,686 per sft in 2019 to Rs8,500 per sft in 2024, says a report.
Real estate data analytics firm PropEquity, releasing its report, said that the average price of new launch projects in India’s top-10 cities has surged 88 per cent over the last five years. The highest rise in prices was seen in Gurugram at 160 per cent, followed by Noida at 146 per cent, Bengaluru at 98 per cent, and Hyderabad at 81 per cent.
Samir Jasuja, Founder and CEO, PropEquity, said: “Real estate prices have gone up exponentially across all major cities in the last five years. The massive infrastructure development, growing interest from NRIs, HNIs/UHNIs and stock market gainers looking to create wealth and generate income through real estate investment, rising homeownership sentiments and overall shift towards luxury homes are the contributing factors for such a steep rise.”
During this period, 15,000 projects comprising apartments, floors and villas were launched in top 10 cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Thane, Navi Mumbai, Pune, Noida and Gurugram, according to the report.