Hyderabad Property Market Grows 7%, Luxury Homes Lead Surge
Hyderabad's property market grew 7% in 2024, with luxury homes above INR 1 crore seeing a 58% YoY surge, according to Knight Frank India.
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The property market in Hyderabad experienced a notable uptick in 2024, with home registrations rising by 7 per cent year-on-year (YoY). According to the latest data from Knight Frank India, the value of registered properties surged by 23 per cent YoY, signaling strong demand across the city's real estate sectors.
The year 2024 closed with a total of 76,613 residential units registered, compared to 71,912 in 2023. However, December saw a dip in the number of registrations, with 5,805 properties recorded—down 20 per cent from the previous year. Despite this, the total value of homes registered in December stood at Rs 3,590 crore, reflecting a modest 2 per cent month-on-month (MoM) increase but a 14 per cent decline from December 2023.
Knight Frank's report highlights that the Hyderabad residential market spans four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. This includes both primary and secondary market transactions, offering a comprehensive view of the region's property dynamics.
While properties under Rs 50 lakh remained the most common, a noticeable shift toward higher-value homes was observed. The share of properties priced above Rs 1 crore increased from 10 per cent in 2023 to 14 per cent in 2024, with a significant 58 per cent YoY rise in registrations. This trend reflects a growing preference for premium homes, particularly as buyers seek larger and more luxurious living spaces.
In terms of property size, the majority of registrations in 2024 were for units between 1,000 and 2,000 square feet, making up 69 per cent of all registrations. The proportion of larger homes, those exceeding 2,000 square feet, also saw growth, rising from 11 per cent in 2023 to 14 per cent in 2024.
The Medchal-Malkajgiri district continued to dominate the market, accounting for 42 per cent of total property registrations in 2024. Close behind was Rangareddy, with 41 per cent, while Hyderabad district contributed 17 per cent. Sangareddy saw minimal activity, with just 0 per cent of the total registrations in December.
The weighted average price of properties registered in December 2024 increased by 6 per cent compared to the previous year. Medchal-Malkajgiri experienced the highest price growth, with a 14 per cent YoY increase, while Rangareddy saw a more modest 3 per cent increase.
