Hyderabad: Hyderabad has recorded the second-highest sales volume and year-on-year (YoY) growth in residential property sales, standing just behind Mumbai. In the first quarter of 2024, 9,550 residential units were sold in Hyderabad, marking a 15% increase compared to the same period last year.
Knight Frank India’s latest report reveals that Hyderabad saw 26,027 property registrations in the first four months of 2024, amounting to a total value of Rs 16,190 crore. This represents a 15% YoY increase in the number of registrations and a significant 40% YoY increase in total value compared to the same period in the previous year.
The surge has been primarily driven by higher-value homes, particularly those priced at Rs 1 crore and above, which saw a 92% YoY increase. Mid-segment homes, priced between Rs 50 lakh and Rs 1 crore, also experienced a 47% YoY rise.
The increase in the value of registered homes across all categories indicates a shift towards more expensive properties. Hyderabad saw the most significant rise in price levels at 13%, as the focus shifted towards developing premium high-rise properties.
In April 2024 alone, residential property registrations reached 6,578 units, marking a 46% YoY increase. The value of these properties was recorded at Rs 4,260 crore, showing an impressive 86% YoY rise.
Hyderabad’s residential market, which includes the districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, covers both primary and secondary real estate markets.
