Knight Frank India, in its latest assessment, reported a 7% year-on-year (YoY) rise in home sales registrations in Hyderabad for 2024, with total transaction value recording a sharp 23% YoY increase. In December 2024, 5,805 properties were registered, marking a 5% month-on-month (MoM) increase but a decline of 20% YoY.
The value of homes registered in December 2024 stood at INR 3,590 crore, a 2% MoM increase but a 14% YoY decline. The Hyderabad residential market covers four districts—Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy—and includes transactions from both the primary and secondary real estate markets.
Properties priced under INR 50 lakhs accounted for majority of the registrations. However, a clear trend of premiumisation has emerged with homes priced at INR 1 crore and above increasing in share of total registrations from 10% in 2023 to 14% in 2024, with registrations surging 58% YoY, reflecting a growing preference for higher-value properties.
In 2024, majority of the registered properties in Hyderabad were concentrated in the range of 1,000 to 2,000 square feet (sq ft), accounting for 69% of all registrations. Units sized >2000 sq ft accounted for 14% of the total registrations as compared with the 11% registered during 2023.
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 December 2024. Among the districts, Medchal-Malkajgiri experienced the most increase of 14% YoY while, Rangareddy experienced an increase of 3% YoY.
Beyond the concentration of bulk transactions, homebuyers also purchased plush properties that are larger in size and offer superior amenities. The top five deals in December 2024 involved properties exceeding 3,000 sq ft and valued above INR 5.5 crore. Four of these transactions were recorded in Central Hyderabad, while one was in Raidurg, West Hyderabad.
