Knight Frank India, in its latest assessment, reported a 7% year-on-year (YoY) rise in home sales registrations in Hyderabad for 2024, with total transaction value recording a sharp 23% YoY increase. In December 2024, 5,805 properties were registered, marking a 5% month-on-month (MoM) increase but a decline of 20% YoY.
The value of homes registered in December 2024 stood at Rs 3,590 crore, a 2% MoM increase, but a 14% YoY decline. The Hyderabad residential market covers four districts—Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy—and includes transactions from both the primary and secondary real estate markets.
Properties priced under Rs 50 lakh accounted for the majority of the registrations. However, a clear trend of premiumisation has emerged with homes priced at Rs 1 crore and above increasing in share of total registrations from 10% in 2023 to 14% in 2024, with registrations surging 58% YoY, reflecting a growing preference for higher-value properties.
In 2024, majority of the registered properties in Hyderabad were concentrated in the range of 1,000 to 2,000 sqft accounting for 69% of all registrations. Units sized more than 2000 sqft accounted for 14% of the total registrations as compared with the 11% registered during 2023.
At the district level, Medchal-Malkajgiri accounted for 42% of property registrations, closely followed by Rangareddy at 41%. Hyderabad district contributed the remaining 17% of total registrations.
The weighted average price of transacted residential properties witnessed a YoY increase of 6% during December 2024. Among the districts, Medchal-Malkajgiri experienced the most increase of 14% YoY while Rangareddy experienced an increase of 3% YoY.