Hyderabad: The real estate market in Hyderabad witnessed a dip in the registration of properties and home sales last month.
According to a report by Knight Frank India, a property consultancy, registrations declined by 12 percent Year-on-Year (YoY), whereas home sales fell by seven percent YoY.
Registration of properties fell to 5,516 units in Hyderabad
In November 2024, 5,516 units were registered, whereas a year ago, it was 6,268 units.
Month-on-month (MoM), it dropped by six percent. It was 5,894 units in October this year.
Though the overall registration of properties declined in Hyderabad, the demand for high-value homes remains high, registering a 3 percent YoY rise.
Dip in home sales in Hyderabad
Last month, Hyderabad recorded home sales worth Rs 3,495 crore. The sales fell by seven percent YoY.
Last year, the sales were Rs 3,741 crore. Even month-on-month (MoM), it declined by three percent from Rs 3,617 crore in October.
The report highlights that in November 2024, 69 percent of the properties registered in Hyderabad were in the range of 1,000 to 2,000 square feet.
Real estate in Hyderabad witnesses rapid growth over the past decade
Though the registration of properties and home sales has declined in the city, Hyderabad has shown remarkable progress in real estate, with a Compound Annual Growth Rate (CAGR) of 10 percent in residential launches over the past decade.
It may be mentioned that Hyderabad’s residential market encompasses four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
According to the India Prime City Index by Knight Frank India, Hyderabad has emerged as the fastest-growing city among six major Indian urban centers, driven by rapid infrastructure development and a thriving real estate market.
Hyderabad’s real estate market is poised for further growth, supported by continuous investments in infrastructure and urban planning.
