Hyderabad Sees Surge in Property Registrations: A Strong Growth in Residential Market
This surge has been accompanied by a two percent year-on-year (YoY) increase, showcasing the resilience and vibrancy of Hyderabad's real estate landscape.
Hyderabad: Hyderabad’s real estate market has witnessed a notable surge in property registrations, reflecting strong growth in the city’s residential sector. In October 2024, the city recorded a significant 20 percent month-on-month (MoM) increase in property registrations, signaling the ongoing recovery and growth in the real estate market. This surge has been accompanied by a two percent year-on-year (YoY) increase, showcasing the resilience and vibrancy of Hyderabad’s real estate landscape.
Table of Contents
Strong Performance in October 2024
According to Knight Frank India, a leading real estate consultancy, a total of 5,985 residential units were registered in Hyderabad in October 2024. This surge in registrations comes as no surprise given the growth in property sales, which reached an impressive Rs 3,617 crore in the same month. The rise in property transactions signals continued interest in both primary and secondary residential markets across Hyderabad’s urban and suburban districts.
Year-on-Year and Month-on-Month Growth
The October 2024 property registration data reflects both MoM and YoY growth. Hyderabad’s residential market saw a 20 percent increase in registrations compared to the previous month, and a 2 percent YoY growth compared to October 2023. This steady upward trajectory suggests a strengthening of demand and investor confidence in the city’s real estate market, which has been attracting both local and out-of-state buyers.
Hyderabad’s residential market spans across multiple districts, including Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. These districts represent a combination of primary and secondary real estate markets, with properties being registered across a variety of price points and locations. The city’s diverse offerings continue to attract homebuyers with varying budgets and preferences.
Shift Towards High-Value Properties
One of the most significant trends observed in October was a shift towards higher-priced homes. While properties priced under Rs 50 lakhs have traditionally dominated the market in Hyderabad, October 2024 saw a notable increase in demand for more expensive homes. The share of properties priced at Rs 1 crore and above rose from 10 percent to 14 percent compared to the previous year.
This shift reflects an evolving demand pattern, with more buyers opting for premium properties. The registrations for high-value homes also saw a 36 percent YoY increase, indicating that homebuyers are willing to invest in more luxurious and spacious properties, possibly driven by factors like improved disposable incomes, a growing economy, and increasing confidence in Hyderabad’s real estate sector.
Increasing Demand for Larger Residential Properties
In addition to the rise in demand for high-value homes, the registration of larger residential properties is also on the upswing. In October 2024, properties between 1,000 to 2,000 square feet accounted for 70 percent of all registrations in Hyderabad. However, there was also a notable increase in demand for larger homes. Registrations for properties exceeding 2,000 square feet grew from 12 percent to 14 percent compared to the same period in the previous year.
Also Read | Hyderabad’s Old City to Get New Flyovers and Bridge for Better Traffic Flow
This increase in demand for larger properties may be attributed to changing lifestyle preferences, with buyers seeking more space for comfortable living, especially in the post-pandemic era, where work-from-home arrangements and the need for additional space have become important factors in decision-making.
Key Drivers of Hyderabad’s Real Estate Boom
The strong performance of Hyderabad’s real estate market can be attributed to several key factors:
- Growing Urbanization: As Hyderabad continues to expand and develop, there is a rising demand for residential properties. The city’s infrastructure, connectivity, and urbanization make it an attractive destination for both homebuyers and investors.
- Economic Growth: Hyderabad has emerged as a major IT hub, attracting professionals and families to the city. The continued growth of the technology and business sectors has led to increased demand for housing, especially in prime locations.
- Affordable Housing Options: While the market for high-value properties has risen, Hyderabad continues to offer a range of affordable housing options that appeal to first-time buyers and middle-income families.
- Increased Interest from NRIs: Non-resident Indians (NRIs) have also been investing in Hyderabad’s real estate market, drawn by the city’s growing economy, stable property values, and favorable investment conditions.
Conclusion: A Positive Outlook for Hyderabad’s Real Estate Market
The surge in property registrations in Hyderabad is a clear indication of the city’s flourishing real estate market. With 20 percent MoM growth and a 2 percent YoY increase, the city’s residential sector is thriving. The shift towards higher-value properties and larger homes shows a growing trend among buyers looking for premium options, which is boosting overall market confidence.
As Hyderabad continues to develop its infrastructure and attract both local and out-of-state investors, the residential real estate market is poised for sustained growth. The combination of a strong economy, improved living conditions, and a diverse range of housing options positions Hyderabad as one of the top real estate destinations in India. Homebuyers and investors alike can expect the momentum to continue as the city progresses into the future.
