In 2023, residential sales were registered at 61,715 units. This figure stood at 47,485 units in 2022, indicating a growth of 30 percent in this analysis year. Mumbai, Pune, Bangalore, Delhi, and Hyderabad dominated the total residential absorption 2023. Additionally, around 76,345 new residential units entered the Hyderabad market in 2023. Compared to the past, this is a noteworthy 12 percent increase. 

The real estate landscape in Hyderabad is showing signs of prosperity. With an increase of 24 percent in residential property rates compared to the previous year, this information was released by ANAROCK, a prominent real estate consultancy firm. This rise from Rs 4,620 per square foot to Rs 5,750 per square foot, as per the figures aligned with the previous year, highlights a significant increase. 

Among the recently introduced residential units, 82 percent are priced between Rs 40 lakhs and Rs 2.5 crores, per the disclosures. ANAROCK's chairman, Anuj Puri, highlighted that the Indian housing construction sector has accomplished remarkable work in 2023. He stated, "With global headwinds impacting, and consistent growth in property rates, the Indian housing construction sector's advancement in 2023 is significant." 

The reports shared interesting details about the housing construction sector's performance in 2024. They revealed exciting developments and rising interest in this area. Across the seven major cities in the country, residential property rates saw an increase of 8 to 10 percent in the past year. ANAROCK predicts stable demand in the housing construction sector. Such stability suggests a probable increase in luxury housing demand in 2024, as reported.