Hyderabad registers over 54,000 home sales during YTD 2024
6,439 residential properties worth INR 4,043 crores registered in August 2024
In August 2024, 15% of registered properties were valued above INR 1 crore, up from 9% in August 2023
In August 2024, 14% of registered properties were over 2,000 sq ft, up from 11% in 2023
Weighted average price of registered properties increased by 9% YoY in August 2024
Hyderabad, 20 September 2024: In its latest assessment, Knight Frank India reported that Hyderabad registered homes sales worth INR 4,043 crore during August 2024 reflecting a 17% year-on-year (YoY) increase, whilst number of registrations stood at 6,439, marginally down up by 1% YoY. Since January 2024, the city has registered a total of 54,483 homes, showing an 18% rise compared to the same period last year.
Similarly, the value of properties registered from January to August 2024 was recorded at INR 33,641 crores, marking a 41% YoY increase. The Hyderabad residential market encompasses four districts, – Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, covering home sales relevant to both primary and secondary real estate markets.
In August 2024, properties priced under INR 50 lakhs made up the largest share of registrations in Hyderabad, though this segment’s share dropped from 67% in August 2023 to 59% in August 2024.Meanwhile, sales of homes priced at INR 1 crore and above saw a significant rise, growing from 9% to 15% during the same period. This reflects a shift in homebuyer preferences toward higher-value properties, with a 61% YoY increase in registrations for homes over INR 1 crore during August 2024.