Decoding why 500075 in Hyderabad is India’s bestselling pincode

The tips of tall towers that are being built and yellow construction cranes are visible from afar. Overlooking the Osman Sagar lake on one side, Neopolis in west Hyderabad, spread across over 530 acres, looks like a new city being built from scratch. Indeed, Neopolis means ‘new city’ in Greek.

Property agents are marketing it as Hyderabad’s own Manhattan. What was just empty land on slightly hilly terrain with no signs of development till a few years ago is now a site of frenzied real estate activity: branded residences, premium offices, hotels, high-end homes, and a World Trade Centre. Top Hyderabad developers such as MyHome Group as well as some of India’s biggest property firms including Godrej Properties Ltd are either building projects or buying land in the area.

The Telangana government’s vision is to develop the Neopolis layout as a mixed-use district, with unlimited FSI or floor space index, meaning there is no vertical limit. That perhaps inspired the tagline ‘Time to go beyond the skies’ on the government website.

“People often cite Bandra Kurla Complex (in Mumbai) as an example of a rapidly developing mixed-use hub. We believe Neopolis will outperform BKC,” said Jayesh Ranjan, special secretary for Hyderabad Metropolitan Area.

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Neopolis is a part of Kokapet, a bustling suburb and a big real estate hotspot. As per data from Liases Foras Real Estate Research, 500075, Hyderabad Urban, enveloping areas such as Neopolis, Kokapet and Narasingi, was the pincode with the highest residential sales by value in the country in 2025.

Last year, residential stock worth ₹24,341 crore was sold in areas under this pincode, followed by two Gurugram pincodes, which sold around ₹24,112 crore worth of inventory.

India’s real estate sector has been on a high since the pandemic. Hyderabad has seen the best of both: residential and commercial. In 2025 alone, government agencies Greater Hyderabad Municipal Corporation (GHMC) and Hyderabad Metropolitan Development Authority (HMDA) have sanctioned a total of 200 million sq. ft of saleable area, including a rising number of highrises and skyscrapers. Project sizes are getting larger, global companies are taking up office space, land is in high demand, and every big developer from outside Telangana wants a part of Hyderabad, the centre of the state’s real estate market.

A number of factors have played in favour of the city’s residential and land sales boom. A strong non-resident Indian (NRI) buyer base, spending power of local buyers, demand for larger homes, thriving office and global capability centre (GCC) demand, and a government push to market prime land.

Highs and lows

Following the 1990s’ information technology (IT) boom in the city, Hyderabad’s realty market reached its peak between 2005 and 2007, with rising land prices triggering a wave of speculative buying.

Hyderabad had been hailed in the early 2000s as one of India’s hottest property destinations, with firms such as US-based Tishman Speyer Properties and Malaysia’s Sunway City Bhd coming in to launch their maiden projects in the country.

Then came the collapse of 2008 in the wake of the economic slowdown and a string of adverse events. In 2010, when most property markets in the country were on the road to recovery from the brunt of the slowdown, Hyderabad, the then Andhra Pradesh’s capital city, remained the lone laggard.

Just when the city was seeing green shoots of a revival, the Telangana bifurcation struggle ripped the property market apart.

Bengaluru, some 570 km from Hyderabad, gained from the latter’s loss.

Eventually, the formation of Telangana led to Hyderabad regaining much of its lost glory, and the property market was a direct beneficiary.

“The city’s office sector has seen a big change. GCCs, multinational firms, and not only IT companies—everyone wants to go to Hyderabad now. Office rentals have risen by 25-30% in recent years. A big advantage for the city is the quality of infrastructure,” said Bijay Agarwal, managing director, Bengaluru-based Sattva Group.

Sattva acquired land for office projects in the city’s Raidurg area back in 2007, but didn’t start work until 2013, when the dust was settling down. It went on to build Knowledge City and Knowledge Park, and is currently constructing Image Tower, making Raidurg the most sought-after commercial hub of Hyderabad. Along with Knowledge Capital in the Financial District area, the four projects span around 15 million sq. ft of premium office space.

Last year, Bengaluru’s Prestige Group bought an 11-acre plot in the Knowledge City area in Raidurg, for ₹1,556.5 crore, putting the city at the centre of the commercial real estate boom.

In that same government auction, MSN Realty, the property development arm of MSN Group, which owns pharmaceutical firm MSN Laboratories, bought a 7.67 acre land parcel at ₹177 crore per acre, making it the most expensive per-acre transaction in the city so far.

“The proactive government, outreach efforts, and bureaucrats leading the IT department have led to a strong ecosystem where incoming GCCs feel fortunate to establish operations in Hyderabad. Office rents have sharply risen in recent years, and developers are willing to pay top dollar to acquire land in key business districts such as Hitec City,” said Sandip Patnaik, senior managing director–Hyderabad, at property advisory JLL India.

Plot no. 15

In November, plot number 15 in Neopolis—a 4.03 acre land parcel— was bought through an e-auction by a clutch of individual investors for ₹151.25 crore an acre, setting a new record for premium land in the area.

With valuations rising and competition intensifying, Neopolis has emerged as one of the most pricey land destinations in the country.

Land auctions at Neopolis and the Golden Mile layout in Kokapet are conducted by the Hyderabad Metropolitan Development Authority (HMDA).

In Neopolis, land auctions first started post pandemic, in 2021, followed by a few in 2023, and again in November-December 2025.

“The demand for land from local and national developers today is very strong. It is evident in the jump in land prices over the years. Even in 2023, the average value of the land we sold was around ₹75 crore per acre,” said Sarfaraz Ahmad, metropolitan commissioner, HMDA.

In the coming months, the government agency will auction the remaining 100 acres in Neopolis, presumably at an even higher price per acre.

In HMDA’s auction, Godrej Properties Ltd (GPL) also acquired 5.03 acres (plot no. 16) in Neopolis for around ₹147.75 crore an acre for a large-format residential project targeted at upscale buyers. The 2.5 million sq ft development will fetch an estimated sales booking value of ₹4,150 crore for the developer.

Mumbai-based GPL, currently the country’s highest-selling developer today, entered the Hyderabad residential market only in January 2025 with the launch of a project named Godrej Madison Avenue in Kokapet.

The project, which features Manhattan-inspired architecture, witnessed sales of over ₹1,000 crore in the initial phase. It then launched ‘Godrej Regal Pavilion’, and has sold stock worth ₹3,000 crore in both projects.

“As of today, we have four projects in Hyderabad spread across key residential micro-markets. Together, these developments represent a combined booking value potential of ₹12,750 crore, underlining the scale on which we have committed to the Hyderabad market,” said Gaurav Pandey, managing director and CEO, Godrej Properties.

Bigger plans

Brigade Enterprises Ltd sees Hyderabad as a priority market, where it can replicate its success in Bengaluru. It recently launched Brigade Gateway in Neopolis; the project will have a World Trade Centre, Intercontinental Hotel, Orion Mall, and Brigade Residences, which will be one of the tallest buildings in the city.

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“With Kokapet and Neopolis emerging among the most sought after pin codes in the country, our focus is on creating landmark destinations that not only meet the aspirations of end users and investors but also contribute to the city’s long-term growth,” said Amar Mysore, executive director, Brigade Enterprises.

Once an affordable housing market, Hyderabad has seen a clear shift towards premium residential units. The demand or tradition of building large-sized homes has further driven up the cost for home buyers.

“In Neopolis, for instance, nothing is being built below ₹2-3 crore per apartment. There is also high investor activity in Hyderabad, which can be a problem in the long run. Still, Hyderabad has huge potential and opportunity to grow,” said Pankaj Kapoor, managing director, Liases Foras.

Riding the GCC wave

At the World Economic Forum in January, French cosmetics major L’oreal said it would set up its first beauty technology hub in Hyderabad. Backed by an investment of ₹3,500 crore, the company aims to expand its digital and artificial intelligence capabilities from India. It will create over 2,000 beauty-tech roles and put Hyderabad ‘at the heart’ of the company’s technology ambition.

While Bengaluru commands the largest share of leasing by global capability centres (GCCs) in India, Hyderabad ranks second. In fact, a recent report by staffing firm Xpheno says Hyderabad attracted the highest share of new GCCs set up in India over the last three years. These global in-house centres or captives are offshore units of large multinationals that handle technology, analytics, operations and other strategic functions.

Companies such as streaming platform Netflix, pharma giant Eli Lilly, American retail major Costco, bulk logistics company Stolt-Nielsen have either announced their entry or are expanding in Hyderabad.

It’s a big win for chief minister Revanth Reddy’s government, which has pitched its Telangana Rising: 2047 Vision, a roadmap unveiled last year to meet the ambitious target of becoming a $3 trillion economy.

Sattva Group’s Agarwal says if the residential sector is doing well in Hyderabad, the commercial office sector has performed even better.

Indeed, Hyderabad emerged as the third largest office leasing market, after Bengaluru and the Delhi-National Capital Region, in 2025, as India’s office leasing touched a new high of 83.25 million sq. ft. Between 2021 and 2025, Hyderabad’s annual gross office leasing jumped from 4.62 million sq. ft to 11.67 million sq. ft.

“Hyderabad’s commercial real estate market is performing exceptionally well. We expect 13-14 million sq. ft of gross absorption in 2026,” said JLL’s Patnaik.

On the 11 acres Prestige Group bought in the commercial district of Raidurg last year, chairman Irfan Razack said they would build 2 million sq. ft of office space and a million sq. ft of luxury homes.

The city’s commercial office market spans IT corridors and business hubs such as Hitec City, Gachibowli, Financial District, and Genome Valley, the latter being home to life sciences and pharma companies.

In Neopolis, MyHome Group has a slew of projects lined up on 85 acres, which earlier belonged to DLF Ltd. Gurugram-based DLF, which has a business park in Hyderabad with more development potential, had exited the city (and Mumbai) to focus on its core market several years back. Now that the real estate market has turned, DLF has re-entered Mumbai and may also develop the Hyderabad land at some point.

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“We have a huge pipeline of office and residential projects in Neopolis. My Home 99, for instance, will be a unique project with nearly 10,000 sq. ft luxury homes. Grava Residences, on the other hand, will have homes at ₹4-5 crore,” said Abhishek Kapoor, CEO, My Home Constructions.

Better than Bengaluru?

Over the years, Hyderabad has often been compared to the more glamorous and steady Bengaluru property market. Companies typically looked at Hyderabad only as a second option. Perhaps, not anymore.

Hyderabad is a very strong market, says Prestige’s Razack. “In some ways, it is even better than Bengaluru today. Good infrastructure, work environment, buying capacity… Hyderabad enjoys all these,” he said.

Every monsoon, social media platform X bursts with laments and frustration over Bengaluru’s crumbling infrastructure. The Outer Ring Road area in Bengaluru, dotted with some of the most prominent business parks in the country, is a perpetual mess, with flooding and traffic snarls.

“The livability quotient of Hyderabad is very high. The government proactively identifies the pain points, addresses them and invests in infrastructure. There is a strong diaspora that acts as our brand ambassadors. It is also an inclusive city, where language or any other factor is not an issue unlike in certain states,” said Ranjan.

Just as Bengaluru’s shortcomings worked in favour of Hyderabad, the fact that Andhra Pradesh chief minister N. Chandrababu Naidu’s grand vision of Amaravati as a next generation-city hasn’t really taken off has given Hyderabad a strong advantage. Both capital and investors have moved back to Hyderabad.

A common complaint about the city, despite the real estate and infrastructure boom, is that the focus is entirely on western Hyderabad, leaving the old city and other residential and industrial areas out in the cold. This does not apply to Bengaluru, which has developed in every direction.

The Telangana government is trying to change this. Last year, it approved the Hyderabad Industrial Lands Transformation Policy, which will allow conversion of legacy industrial lands into multi-use zones. Over 9,000 acres of industrial land will be eligible for property development as a result.

While the vertical realty boom is set to change Hyderabad’s skyline forever, home sales have started softening after being on steroids in recent years. The Deccan city will have its job cut out to navigate this and other challenges to sustain its growth.