Hyderabad: Residential property registrations in Hyderabad fell 13 per cent year-on-year in June to 5,560 units, as a surge of bookings ahead of a revision in guidance values moderated after being pulled forward to May, according to Knight Frank India.
The value of homes registered during the month stood at Rs 4,148 crore, down 10 per cent year-on-year (YoY) and 30 per cent from May, the property consultancy said in a report released on Wednesday, July 15. The decline followed unusually high registrations in May, as buyers rushed to close deals before the revised guidance values kicked in from June 5.
For the January-June period, however, Hyderabad’s residential market held firm, with registrations rising 5 per cent YoY to 37,992 units and their value up 6 per cent to Rs 26,400 crore.
Premium homes hold value
Knight Frank said the June slowdown was broad-based, with registrations across all ticket sizes declining between 12 per cent and 14 per cent YoY. Even so, homes priced above Rs 1 crore accounted for 22 per cent of registrations but 52 per cent of transaction value, reflecting continued demand at the premium end.
District-wise, Rangareddy accounted for 49 per cent of June registrations, followed by Medchal-Malkajgiri at 38 per cent and Hyderabad district at 13 per cent. The weighted average transacted price across the city rose 2 per cent YoY, with Medchal-Malkajgiri and Sangareddy posting increases of 8 per cent and 6 per cent, respectively.
Knight Frank India chairman and managing director Shishir Baijal said the June moderation reflected “a timing-led adjustment rather than a shift in market fundamentals,” pointing to the 5 per cent rise in H1 registrations as evidence of the city’s resilient housing demand.
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