Hyderabad Property Market Sees 14% Spike in ₹1 Crore+ Home Registrations

Hyderabad’s residential property market witnessed a notable moderation in November, with home sales totaling Rs 3,495 crore, marking a 7 per cent year-on-year (YoY) and 3 per cent month-on-month (MoM) decline, according to the latest report by Knight Frank India.

Residential unit registrations dropped to 5,516, reflecting a 12 per cent YoY and 6 per cent MoM decrease. Despite these dips, high-value homes continued to show resilience, indicating a shift in buyer preferences towards premium properties.

A significant trend observed was the rise in registrations of properties priced above Rs 1 crore. The share of such transactions grew from 12 per cent in November 2023 to 14 per cent in November. This shift highlights a growing demand for premium and larger homes, driven by economic stability and aspirations for improved lifestyles.

Properties under Rs 50 lakh, while still comprising a major share, saw a decline in registrations from 61 per cent in November 2023 to 58 per cent in November 2024. Homes priced between Rs 50 lakh and Rs 1 crore constituted 28 per cent of registrations, a marginal increase from the previous year’s 27 per cent.

In terms of size, properties ranging from 1,000 to 2,000 sq. ft. dominated the market, making up 69 per cent of all registrations in November 2024, slightly down from 71 per cent in the same period last year. Properties exceeding 2,000 sq. ft. accounted for 14 per cent of registrations, showcasing an increasing inclination towards spacious homes.

Among Hyderabad’s districts, Medchal-Malkajgiri led with 42 per cent of total property registrations, followed closely by Rangareddy at 41 per cent. Hyderabad district contributed 17 per cent, up from 14 per cent in November 2023.

The weighted average price of residential properties in Hyderabad increased by 6 per cent YoY in November 2024. Medchal-Malkajgiri recorded the highest price growth at 11 per cent, followed by Hyderabad district with a 10 per cent rise. Rangareddy saw a more modest 1 per cent increase.

The month’s most notable transactions included luxury properties exceeding 3,000 sq. ft. in Hyderabad’s prime locations, such as Somajiguda, Banjara Hills, and Jubilee Hills. The highest transaction was a property in Somajiguda valued at Rs 10.22 crore.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, remarked, “Overall property registrations in Hyderabad moderated in November 2024, but demand for high-value homes remains robust, registering a 3 per cent YoY increase. Buyer preferences are shifting toward larger, premium properties priced above Rs 1 crore, reflecting a growing inclination for luxury living driven by strong economic fundamentals and aspirations for enhanced lifestyles.”

Market Overview

From January to November 2024, Hyderabad registered 70,796 residential units, a 12 per cent YoY increase, with a total transaction value of Rs 43,574 crore, up by 27 per cent YoY. The city’s real estate market continues to show robust confidence, particularly in the high-value segment, despite periodic fluctuations in overall sales.