Hyderabad’s residential real estate sees 7% growth in registrations in 2024: Knight Frank India
The Hindu
Hyderabad's real estate market in 2024 saw 7% YoY growth in home sales, with significant value surge, reflecting sustained momentum.
Hyderabad witnessed a 7% year-on-year (YoY) growth in home sales registrations in 2024, accompanied by a 23% YoY surge in total transaction value, according to the latest assessment report by Knight Frank India. The city recorded 76,613 units sold in 2024, compared to 71,912 in 2023 and 68,519 in 2022.
The report also provided insights into December 2024’s performance, where 5,805 properties were registered, marking a 5% month-on-month (MoM) increase. However, this represented a 20% YoY decline in registrations. The total value of homes registered in December stood at ₹3,590 crore, showing a 2% MoM growth but a 14% YoY decline.
Hyderabad’s residential market, which encompasses the districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, includes transactions from both the primary and secondary real estate markets. Among these, Medchal-Malkajgiri emerged as the leading district, accounting for 42% of the total property registrations, followed by Rangareddy at 41%. Hyderabad district contributed the remaining 17% of the registrations.
In terms of pricing, properties valued below ₹50 lakh dominated the market, with 45,605 registrations. Homes priced between ₹50 lakh and ₹1 crore accounted for 19,964 registrations, while properties exceeding ₹1 crore saw 11,044 registrations. These figures reflect diverse buyer preferences across different income groups.
When analysed by area, the majority of the property registrations, 69%, were for homes ranging between 1,000 and 2,000 square feet. Smaller homes between 500 and 1,000 square feet accounted for 14% of registrations, while 11% of sales were for properties sized between 2,000 and 3,000 square feet. Properties under 500 square feet and those exceeding 3,000 square feet each represented 3% of the total registrations.
“Hyderabad’s real estate market has continued its upward trajectory in 2024, showcasing resilience and adaptability. The sustained momentum in the high-value segment underscores the confidence of affluent buyers in Hyderabad’s thriving residential real estate market, reaffirming the city’s position as a hub for premium living and investment opportunities,” chairman and managing director of Knight Frank India Shishir Baijal said.
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