Hyderabad recorded 5,411 residential property registrations in January 2024, reflecting a 1% year-on-year (YoY) increase, according to data released by Knight Frank India. The total value of registered properties during this period reached ₹3,279 crore, marking a 24% YoY surge.
The data showed that 47% of the registered properties in Hyderabad, falling in the price range of ₹25 to 50 lakh, constituted the largest category in January 2024. Conversely, properties priced below ₹ 25 lakhs accounted for 15% of the total registrations, experiencing a decline in their share. There has been a substantial rise in the share of registrations for properties priced at ₹ 1 crore and above, increasing from 8% in January 2023 to 14% in January 2024.
The majority of the properties registered in January 2024 were in the 1,000 to 2,000 square feet range, making up 71% of all registrations. Demand for smaller homes (below 1,000 square feet) experienced a dip, dropping from 19% in January 2023 to 16% in January 2024. Properties larger than 2,000 square feet saw an increased demand, with registrations rising from 9% in January 2023 to 13% in January 2024.
“The Hyderabad residential market displayed a promising start to 2024, characterised by a stable property registration momentum and a notable uptick in demand for high-quality homes in January. This is reflected not just in the growth in price level but also the aspirational drive of homebuyers towards upgrading to higher value properties. Developers, too, are actively keeping pace with these trends, demonstrating adaptability to meet the evolving preferences of discerning buyers,” said Shishir Baijal, chairman and managing director, Knight Frank India.
