Hyderabad Sees Home Sales Worth Rs 4,043 Crore in Aug., Up 17% Over Last Year
Hyderabad: Hyderabad saw home sales worth Rs 4,043 crore in August, a 17 per cent increase compared to the year-ago period. The number of registrations stood at 6,439, up one per cent over last year. Since this January, the city has registered a total of 54,483 homes, an 18 per cent rise compared to the same period last year, said real estate consultancy Knight Frank in a report.
The value of properties registered from January to August was Rs 33,641 crore, marking a 41 per cent year-on-year increase. The Hyderabad residential market includes Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
In August, properties priced under Rs 50 lakh made up the largest share of registrations in Hyderabad. However, the segment’s share dropped from 67 per cent in August 2023 to 59 per cent this August. Sales of homes priced at Rs one crore and above saw a significant rise, growing from nine to 15 per cent during the same period.
This reflected a shift in homebuyer preferences toward higher-value properties, with a 61 per cent year-on-year increase in registrations for homes over Rs 1 crore during August 2024.
In August, most registered properties in Hyderabad were concentrated in the range of 1,000 to 2,000 square feet (sq. ft) comprising 69 per cent of all registrations. There was a decrease in demand for smaller homes (below 1,000 sq ft) with registrations dropping to 17 per cent in August 2024 from 19 per cent in August 2023. Conversely, demand for larger properties (over 2,000 sq. ft) increased with registrations rising to 14 per cent from 11 in the same period.
The weighted average price of transacted residential properties witnessed an increase of 9 per cent during August 2024. Top five deals for this August happened in Hyderabad wherein the properties were sized more than 3,000 sq ft and valued upwards of Rs 5.3 crore.
“Hyderabad’s residential market is flourishing, particularly in the luxury segment, as more homebuyers seek spacious layouts and premium amenities. Buyer confidence is rising. This shift toward higher-value properties underscores the growing preference for upscale living across the city,” said Shishir Baijal, chairman and managing director, of Knight Frank India.
