Hyderabad’s residential real estate market is booming, driven by a shift towards higher-value homes and increased property values across all categories.
In the first quarter of 2024, Hyderabad sold 9,550 residential units, marking a 15% increase from the previous year.
The city now holds the second-highest sales volume and YoY growth in India’s residential market, just behind Mumbai.
Knight Frank India’s report highlights that from January to April 2024, Hyderabad recorded 26,027 property registrations valued at Rs 16,190 crore. This marks a 15% YoY increase in registrations and an impressive 40% YoY increase in total value.
The growth is primarily driven by higher-value homes, with properties priced at Rs 1 crore and above seeing a 92% YoY increase and mid-segment homes (Rs 50 lakh to Rs 1 crore) experiencing a 47% YoY rise.
April 2024 alone saw significant activity with 6,578 residential property registrations, a 46% YoY increase, and a total value of Rs 4,260 crore, marking an 86% YoY rise.
This trend indicates a shift towards more expensive properties, with the value of registered homes increasing by 13%.
Demand for homes below Rs 50 lakh declined by 4% YoY, while larger properties (over 2,000 square feet) saw increased demand, rising from 10% to 15% YoY.
Rangareddy district led in property registrations in April 2024, capturing 45% of the market. Medchal-Malkajgiri and Hyderabad districts accounted for 39% and 16%, respectively.
The market also saw a preference for luxurious properties, with top deals in April 2024 featuring homes over 3,000 square feet and valued above Rs 4.2 crore in areas like Puppalaguda.
Developers are responding to these trends by increasing the launch of 2-BHK and 3-BHK apartments, reflecting shifts in consumer demand and strategy.
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