Hyderabad: The real estate market in Hyderabad saw registration of homes worth Rs 4,288 crore in June 2024. The registrations grew by 48 percent year-on-year (YoY) and 14 percent month-on-month (MoM).
According to Knight Frank India, since January 2024, Hyderabad has seen registrations of 39,220 residential properties, which is a 15 percent increase YoY compared to the first six months of 2023. The rise is sharper in the cumulative value of the registered properties in the first six months, which was Rs 24,287 crore, indicating a YoY hike of 39 percent against Rs 17,490 crore worth of properties registered between January and June 2023.
This also indicates a rise in the average cost of homes registered in 2024, which was higher by an average of 21 percent compared to those registered in the first six months of 2023.
Ranga Reddy sees highest registration of homes in Hyderabad
The Hyderabad residential market encompasses four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
At the district level, Ranga Reddy emerged as the leading contributor to registrations in June 2024, capturing 43 percent of the market, a sharp increase compared to the 38 percent recorded in June 2023. Medchal-Malkajgiri and Hyderabad district accounted for 41 percent and 16 percent, respectively, of the total registrations.
Real estate market in Hyderabad sees growth in BFSI sectors
Meanwhile, the real estate market in Hyderabad is witnessing a significant influx of major Banking, Financial Services, and Insurance (BFSI) organizations in the first half of 2024 (H1 2024). This trend marks a notable shift, positioning Hyderabad as a well-rounded business center beyond the technology and food sectors.
Several renowned BFSI names, including Cigna Healthcare, Lloyds Bank, Swiss Re, MetLife, DTCC, and Ameriprise, have established a presence in the city.
In H1 2024, the BFSI sector emerged as one of the top three occupiers of office space, capturing an impressive 30 percent market share, according to industry reports.
