Hyd Property Registrations Grow 2% During October

Hyderabad: Residential properties worth Rs 3,617 crore have been registered during October 2024, reflecting a 14 per cent year-on-year (YoY) and 28 per cent month-on-month (MoM) growth in value terms, according a latest assessment by Knight Frank Research.

As many as 5,985 residential units were registered, marking a 2 per cent YoY from 5,799 units a year ago. The momentum in registrations rebounded in October following the completion of Shradh/Pitra Paksha period (September 17 to October 2, 2024). 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 Hyderabad, properties priced under Rs50 lakh usually dominate registrations. However, a notable premiumisation trend has emerged over the last few months. Share of sales of homes priced at Rs1 crore and above rose from 10 per cent to 14 per cent in October 2024, highlighting a shift in buyer preferences toward higher-value properties. Registrations for homes over Rs1 cr saw a significant 36 per cent YoY increase

In October 2024, majority of the registered properties in city were concentrated in the range of 1,000 to 2,000 sft comprising of 70 per cent of all registrations. Notably, the demand for larger properties (over 2,000 sft) increased with registrations rising

to 12 per cent.

“Hyderabad’s residential market is thriving, especially in the over Rs1crore segment, driven by a rising preference for spacious layouts and premium amenities reflects a broader national inclination towards high-end housing. Supported by strong economic fundamentals and favourable interest rates, buyer confidence has soared, leading to a 36 per cent YoY increase in registrations for properties above Rs1crore in October. ,” Shishir Baijal, CMD of Knight Frank India said.