HYDERABAD: Property registrations in Hyderabad declined by 12% year-on-year (YoY) to 5,516 units in November 2024, compared to 6,268 units in the same period last year. The registrations also dropped 6% month-on-month from 5,894 units in October 2024, according to the latest report released by Knight Frank India.
The total value of home sales in November 2024 stood at Rs 3,495 crore, marking a 7% YoY decline from Rs 3,741 crore in November 2023 and a 3% MoM drop from Rs 3,617 crore in October 2024. Despite the overall decline in registrations, there was an increase in the registration of high-value homes.
The report highlighted a 3% YoY rise in the demand for premium homes priced above Rs 1 crore. Properties priced under Rs 50 lakh continued to dominate registrations, but the share of high-value properties rose from 12% in November 2023 to 14% in November 2024, reflecting a trend toward luxury property investments.
In terms of property sizes, units ranging between 1,000 to 2,000 square feet accounted for 69% of all registrations. Among the districts, Medchal-Malkajgiri led with 42% of registrations, followed by Rangareddy with 41% , and Hyderabad contributing the remaining 17%.
Between January and November 2024, Hyderabad’s home sales reached Rs 43,574 crore, representing a 27% YoY increase compared to Rs 34,205 crore during the same period in 2023. The number of units registered also rose from 64,658 in 2023 to 70,796 in 2024.
Knight Frank India CMD Shishir Baijal said: “Property registrations in Hyderabad moderated in November 2024, but demand for high-value homes remains robust, reflecting a growing preference for larger and premium properties. This trend is driven by strong economic fundamentals and aspirations for improved lifestyles.”
The Hyderabad residential market includes Hyderabad, Rangareddy, Medchal-Malkajgiri and Sangareddy districts, covering transactions in both primary and secondary real estate markets.