Knight Frank India, in its latest assessment noted that Hyderabad recorded home sales worth INR 3,495 crore in November 2024, reflecting a 7% year-on-year (YoY) and 3% month-on-month (MoM) decline. During the same period, residential unit registrations fell to 5,516, down 12% YoY and 6% MoM drop.
Despite the overall decline in registrations, there has been an increase in the registration of high-value homes. The Hyderabad residential market encompasses four districts, - Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, covering home sales relevant to both primary and secondary real estate markets.
In Hyderabad, properties priced under INR 50 lakhs typically account for the majority of registrations. However, a notable premiumisation trend has emerged in recent months. The share of homes priced at INR 1 cr and above rose from 12% to 14% in November 2024 as compared to 2023, highlighting a shift in buyer preferences toward higher-value properties.
In November 2024, majority of registered properties in Hyderabad were concentrated in the 1,000 to 2,000 square feet (sq ft) range, accounting for 69% of all registrations.
At the district level, Medchal-Malkajgiri accounted for 42% of property registrations, closely followed by Rangareddy at 41%. Hyderabad district contributed the remaining 17% of total registrations.
The weighted average price of transacted residential properties witnessed a YoY increase of 6% during November 2024. Among the districts, Medchal-Malkajgiri experienced the most increase of 11% YoY while, Hyderabad experienced an increase of 10% YoY.
Beyond the concentration of bulk transactions, homebuyers also bought plush properties which are bigger in size and offer better amenities. The top five deals in November 2024 included properties over 3,000 sq ft, valued above INR 6.3 cr. All these deals were recorded in Central Hyderabad.
