Hyderabad: The real estate market in Hyderabad saw a 20 percent month-on-month (MoM) increase in property registrations, with 5,985 residential units sold according to Knight Frank India’s latest report. The city also witnessed a surge with home sales totalling Rs 3,617 crore, reflecting a 14 percent year-on-year (YoY) increase.
The Hyderabad residential market spans four districts including Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy which includes both primary and secondary market sales. Rangareddy led the market with 43 percent of the total property registrations, followed closely by Medchal-Malkajgiri at 41 percent.
Whereas, real estate in Hyderabad accounted for 16 percent of the property registrations.
The data showed significant monthly fluctuations in home registrations this year. After peaking at 8,781 registrations in July, the numbers fell by 27 percent to 6,439 in August and then dropped further by 24 percent to 4,903 in September. However, the trend reversed in October, with a 20 percent increase to 5,985 registrations.
Affordable housing continues to dominate real estate in Hyderabad
In terms of pricing, affordable housing continued to dominate with 59 percent of properties priced below Rs 50 lakh. However, there has been a notable shift towards premium housing with the share of sales for homes priced at Rs 1 crore and above increasing significantly.
Real estate in Hyderabad: Property above 1 crore a new normal
Registrations for properties in this higher price range saw a 36 percent YoY increase. The demand for larger real estate properties, especially those over 2,000 sq ft also grew in Hyderabad accounting for 12 percent of registrations compared to 11 percent in the previous year.
The weighted average price of residential properties in Hyderabad saw a 7 percent YoY increase in October 2024. Among the districts, Sangareddy experienced the highest price growth at 13 percent, while Medchal-Malkajgiri, Rangareddy, and Hyderabad saw price increases of 8percent, 6percent, and 3percent, respectively.
Shift in apartment launches
The real estate market in Hyderabad saw a significant shift was also observed in new apartment launches, with 3BHK units now dominating 90 percent of new launches, up from 46 percent in October 2023. The share of 2BHK units dropped sharply from 39percent to just 6 percent and the presence of 1BHK and 2.5BHK options disappeared entirely.
However, 3.5BHK units accounted for 4 percent of launches while 4BHK units which comprised 11percent of launches last year were absent this October.
