Knight Frank India in its latest report has reported that Hyderabad registered 26,027 properties in the first four months of 2024, with a total value of ₹16,190 crore. This represents a 15% year-on-year (YoY) increase in registrations and a 40% YoY increase in total value compared to the same period last year.
The surge in registrations in 2024 has been driven by higher-value homes, particularly those priced at ₹1 crore and above, which saw a 92% YoY increase. Mid-segment homes, priced between ₹50 lakh and ₹1 crore, also experienced a 47% YoY rise.
According to the data, in April 2024, residential property registrations in Hyderabad reached 6,578 units, marking a 46% YoY increase. The value of these properties totalled ₹4,260 crore, showing a 86% YoY rise. Homes valued below ₹50 lakh saw a 4% YoY decline in registrations, while homes priced over ₹1 crore surged by 92%. The overall value of registered homes has increased across all segments. Even in the affordable housing category (homes priced at ₹50 lakh and below), there was a 17% YoY increase in value despite a 4% decline in registrations. Homes priced above ₹1 crore saw a 135% YoY increase in value on a year-to-date (YTD) basis.
In April 2024, most registered properties in Hyderabad ranged from 1,000 to 2,000 square feet, accounting for 70% of all registrations. Demand for smaller homes (below 1,000 square feet) decreased, with registrations dropping to 16% in April 2024 from 20% in April 2023. Conversely, demand for larger properties (over 2,000 square feet) increased, with registrations rising to 15% in April 2024 from 10% in April 2023. At the district level, Rangareddy led with 45% of registrations in April 2024, up from 39% in April 2023. Medchal-Malkajgiri and Hyderabad district accounted for 39% and 16% of the total registrations, respectively.
Published - May 18, 2024 06:05 pm IST
