A view of multi-storeyed apartments in Hyderabad.
| Photo Credit: RAMAKRISHNA G
Hyderabad saw a 20% month-on-month increase in property registrations in October 2024, with 5,985 residential units sold. According to the latest report by Knight Frank India, the city recorded residential property sales worth ₹3,617 crore, reflecting a 14% year-on-year (YoY) and 28% month-on-month (MoM) growth.
The Hyderabad residential market spans four districts, Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Home Registrations
Knight Frank’s data showed significant monthly fluctuations in home registrations this year. After peaking at 8,781 registrations in July, the numbers fell by 27% to 6,439 in August and further dropped by 24% to 4,903 in September. However, the trend reversed in October with a 20% increase to 5,985 registrations.
Property Prices
Affordable housing dominated the market, with 59% of registered properties priced below ₹50 lakh. Properties in the ₹50 lakh to ₹1 crore range accounted for 27% of registrations, while 14% were for properties priced above ₹1 crore.
In terms of size, 70% of the registered properties measured between 1,000 and 2,000 square feet. Smaller units of 500 to 1,000 square feet made up 13%, while 11% were between 2,000 and 3,000 square feet. Properties above 3,000 square feet and below 500 square feet each accounted for 3% of registrations.
Performance
Rangareddy district led the market with 43% of total property registrations, closely followed by Medchal-Malkajgiri at 41%. Hyderabad district contributed the remaining 16%.
Published – November 22, 2024 07:21 pm IST