July 15, 2024: Hyderabad has registered homes worth Rs 4,288 crore during June 2024, up by 48% year-on-year (YoY) and by 14% month-on-month (MoM), according to the latest report by Knight Frank India. The number of registrations in Hyderabad in June 2024 stood at 7,014 units, up by 26% YoY and 16% MoM. The Hyderabad residential market encompasses four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Since January 2024, Hyderabad has seen registrations of 39,220 residential properties, which is higher by 15% YoY when compared to the first six months in 2023. The rise, however, is sharper in the cumulative value of the registered properties in the first six months, which was registered at Rs 24,287 crore, indicating a YoY hike of 39% against Rs 17,490 crore worth properties registered between the months of January – June 2023. This also indicates a rise in the average cost of homes registered in 2024, which was higher by an average 21% against those registered in the first six months of 2023.
| Registrations in Hyderabad | ||||||||
| 2023 | 2024 | YoY | MoM | 2023 | 2024 | YoY | MoM | |
| Volume Split (No. of units) | Registration Value Split (in Rs cr) | |||||||
| January | 5,454 | 5,444 | 0% | -25% | 2,650 | 3,293 | 24% | -21% |
| February | 5,725 | 7,135 | 25% | 31% | 2,987 | 4,362 | 46% | 32% |
| March | 6,959 | 6,870 | -1% | -4% | 3,602 | 4,275 | 19% | -2% |
| April | 4,494 | 6,696 | 49% | -3% | 2,286 | 4,310 | 89% | 1% |
| May | 6,039 | 6,061 | 0% | -9% | 3,068 | 3,759 | 23% | -13% |
| June | 5,566 | 7,014 | 26% | 16% | 2,897 | 4,288 | 48% | 14% |
In June 2024, properties registered in the less than Rs 50 lakh price category were the largest category of properties registered in Hyderabad, however, the share of sales registrations has fallen from 70% in June 2023 to 60% in June 2024. Notably, the share of sales registrations for properties costing Rs 1 crore and above has increased to 14% in June 2024, as compared with 9% in June 2023. There’s a noticeable trend of homebuyers preferring higher-value homes, which is reflected in the increasing registrations of properties for homes priced over Rs 1 crore, which has increased sharply by 96% YoY during June 2024.
| Ticket size-wide registrations in Hyderabad | ||||||
|---|---|---|---|---|---|---|
| June 2023 | June 2024 | YoY | June 2023 | June 2024 | YoY | |
| Volume Split (No. of units) | Registration Value Split (Rs cr) | |||||
| Under Rs 50 lakh | 3,896 | 4,217 | 8% | 2,028 | 2,578 | 27% |
| Rs 50 lakh- 1 crore | 1,155 | 1,791 | 55% | 601 | 1,095 | 82% |
| Over Rs 1 crore | 514 | 1,006 | 96% | 268 | 615 | 130% |
| Ticket size-wise share of registrations in Hyderabad | ||
|---|---|---|
| Ticket size | June 2023 | June 2024 |
| Under Rs 50 lakh | 70% | 60% |
| Rs 50 lakh- 1 crore | 21% | 26% |
| Over Rs 1 crore | 9% | 14% |
In June 2024, the majority of registered properties in Hyderabad were concentrated in the range of 1,000 to 2,000 square foot (sqft), comprising 68% of all registrations. There was a decrease in demand for smaller homes (below 1,000 sqft) with registrations for this category declining to 18% in June 2024 from 21% in June 2023. Conversely, there was an increase in demand for larger properties exceeding 2,000 sqft, with registrations rising to 14% in June 2024 from 11% in June 2023.
| Unit size-wise share of registrations in Hyderabad | ||
|---|---|---|
| Unit-size (in sqft) | June 2023 | June 2024 |
| 0-500 | 4% | 3% |
| 500-1,000 | 17% | 15% |
| 1,000-2,000 | 68% | 68% |
| 2000-3000 | 9% | 11% |
| >3000 | 2% | 3% |
At a district-level, Rangareddy emerged as the leading contributor to registrations in June 2024, capturing 43% of the market, a sharp increase as compared to the 38% recorded in June 2023. Medchal-Malkajgiri and Hyderabad district accounted for 41% and 16% respectively of the total registrations.
| District-wise share of registrations in Hyderabad | ||
| District | June 2023 | June 2024 |
| Hyderabad | 16% | 16% |
| Medchal-Malkajgiri | 46% | 41% |
| Rangareddy | 38% | 43% |
| Sangareddy | 0% | 0% |
The weighted average price of transacted residential properties witnessed a sharp YoY increase of 10% during June 2024. Among the districts, Medchal-Malkajgiri, experienced the sharpest increase of 11% YoY while, Rangareddy and Hyderabad experienced an increase of 8% and 7% YoY respectively.
| Transacted price by district | ||
| District | Weighted average transacted price
(in Rs/sqft) |
June 2024
(YoY change) |
| Hyderabad | 4,700 | 7% |
| Medchal-Malkajgiri | 3,306 | 11% |
| Rangareddy | 4,538 | 8% |
| Total Market | 4,105 | 10% |
Beyond the concentration of bulk transactions, homebuyers also bought plush properties which are bigger in size and offer better amenities. The top five deals for June 2024 have majorly happened in Rangareddy and Hyderabad wherein the properties were sized more than 3,000 sqft and valued upwards of Rs 7.1 crore. Further, four of the top five were in West Hyderabad while the one Jubilee Hills was in Central Hyderabad.
| Top 5 transactions in Hyderabad in June 2024 | |||
| District Name | Location | Area range (in sqft) | Market Value (in Rs) |
| Hyderabad | Jubilee Hills | >3,000 | 7,44,19,200 |
| Rangareddy | Puppalgudapuppal Guda | >3,000 | 7,21,04,712 |
| Rangareddy | Puppalgudapuppal Guda | >3,000 | 7,18,74,132 |
| Rangareddy | Puppalgudapuppal Guda | >3,000 | 7,13,62,584 |
| Rangareddy | Puppalgudapuppal Guda | >3,000 | 7,11,34,524 |
An in-depth analysis of the Hyderabad real estate market reveals significant trends in apartment launches during June 2024. The data shows a notable shift in buyer preferences and developer strategies: 1BHK units, previously absent, now constitute 3% of the market, indicating a demand for affordable housing. The share of 2BHK apartments increased from 24% to 27%, reflecting steady demand among nuclear families. Although the proportion of 3BHK units declined from 61% to 48%, they remain the market’s dominant choice, catering to larger families. The share of 4BHK units grew from 15% to 18%, highlighting rising demand for luxury spaces, while 5BHK units, a new addition, now make up 4% of launches, catering to ultra-luxury seekers. This diversification in apartment offerings indicates a dynamic market adapting to the evolving needs of its residents.
| Type of apartment launches in Hyderabad | ||
| Type of Apartment | Jun-23 | Jun-24 |
| 1BHK | 0% | 3% |
| 2BHK | 24% | 27% |
| 3BHK | 61% | 48% |
| 4BHK | 15% | 18% |
| 5BHK | 0% | 4% |
Shishir Baijal, chairman and managing director, Knight Frank India, said, “The demand in the residential market in Hyderabad is experiencing a significant shift towards luxurious homes with spacious layouts and greater amenities. Since the onset of the pandemic, prices have steadily risen, a trend that has persisted through June 2024, as homebuyers increasingly seek higher-value properties with more space. This shift is supported by positive economic growth and favourable interest rates, which have further boosted buyer confidence. Developers are swiftly adapting to these changing market dynamics by tailoring their offerings to meet buyer demands.”
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
