Hyderabad: In the last decade, North Hyderabad has become an ‘ affordable luxury ' for buyers as many residential properties , including villas, 2BHKs and 5BHKs, are seeing an upward trend in demand, said B Jagannath Rao, secretary of CREDAI Hyderabad . He said, “North Hyderab-ad, which includes Jeedimetla, Kompally, Suchitra, and Medchal, has seen a 179% increase in units sold in H1 CY24 compared to H1 CY19, with a 23% CAGR in total value of sales.” He said this during CREDAI’s second property show, CREDAIbility, on Friday.
“Properties priced between 1 crore to 2 crore saw a 264% surge, while those under 1 crore grew by 128%. Even the 2 crore to 5 crore segment saw a 157% increase in sales. The average unit value in H1 CY24 has risen by 35% from H1 CY19 to 1 Cr.
These trends show a spike in demand and property values in North Hyderabad, with price increases expected,” he added. He highlighted that to ensure 360-degree growth across the city, industrial corridors are spread across core urban region (CUR) of Hyderabad, and North corridor has benefited from this. “To elevate this region to the level of the west, the tallest IT Tower at Kandlakoya, capable of hosting 100 companies and employing 50,000 people, is being built.
This region is also a hub for bio-medical R&D, with over 200 companies and 15,000 employees, including global giants like Novartis and GlaxoSmithKline. The Hyderabad-Nagpur Industrial Corridor (HNIC) will further accelerate growth, driving up d.