Home sales in Hyderabad have been phenomenal. Sales reached record levels last year. In 2024, 36,974 units were sold, a 12% increase compared to the previous year. Across eight major cities in India, home sales grew by 7% in 2024 compared to 2023. A total of 350,613 units were sold, according to the latest report from Knight Frank India, marking the highest level in 12 years. Along with Hyderabad, Pune also reached all-time highs in sales, while Mumbai saw its highest sales in 13 years, as reported by Knight Frank.
There has been a notable surge in demand for premium homes, particularly in the Rs 2-5 crore price range, with a remarkable 85% growth in sales in this segment, as per the latest report. Knight Frank India Chairman and MD Shishir Baijal pointed out that the trend of premiumisation has grown, with buyers opting for homes that align with their enhanced living standards. While the premium market has flourished, the segments priced below Rs 50 lakh and between Rs 50 lakh to Rs 1 crore saw no significant growth. Looking at city-specific data for 2024, Mumbai recorded an 11% increase in sales compared to 2023, with 96,187 units sold. Bengaluru saw a 2% increase, with 55,362 units sold, while Pune’s sales grew by 6%, reaching 52,346 units. Ahmedabad experienced a 15% rise in sales, with 18,462 units sold, and Kolkata saw a 16% increase, with 17,389 units sold. Chennai also witnessed a 9% growth, with 16,238 units sold. However, the Delhi NCR market experienced a slight dip, with a 4% decline and sales limited to 57,654 units.
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