Residential property registrations rise 26% in Hyderabad

Hyderabad: The city witnessed registration of 7,014 residential properties worth Rs4,288 crore during June 2024.The total value of registered properties increased by 48 per cent year-on-year (YoY) and by 14 per cent month-on-month (MoM), while total number of units registered grew by 26 per cent YoY and 16 per cent MoM, a Knight Frank India report said.

In its latest assessment, Knight Frank India reported that from January 2024, the city has seen registrations of 39,220 residential properties which is higher by 15 per cent YoY when compared to H1, 2023. The rise is sharper in the cumulative value of the registered properties in the first six months, which is at Rs 24,287 crore, indicating a YoY growth of 39 per cent, as against Rs 17,490 crore worth properties registered in the first half of 2023.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said: “The residential market in Hyderabad is experiencing a significant shift towards luxurious homes with spacious layouts andgreater amenities. Since the onset of the pandemic, prices have steadily risen, a trend that has persistedthrough June 2024, as homebuyers increasingly seek higher-value properties with more space. This shift issupported by positive economic growth and favourable interest rates, which have further boosted buyer confidence.”

According to the report, in June 2024, the largest category of properties registered in the city was in the less than Rs 50 lakh price category.