Hyderabad Records Over 26,000 Property Registrations in Early 2024  | Stonehill Property Management

Hyderabad’s real estate market is experiencing a remarkable boom in 2024, as highlighted by Knight Frank India’s latest report. From January to April, the city registered 26,027 property transactions, amounting to a total value of Rs 16,190 crore.

This impressive performance marks a 15% year-on-year (YoY) increase in the number of registrations and an extraordinary 40% YoY rise in total value compared to the previous year.

Surge in High-Value Homes

A key driver of this growth has been the surge in sales of higher-value homes. According to a report by Siasat Daily, properties priced at Rs 1 crore and above saw an astounding 92% YoY increase.

This significant rise in high-value transactions underscores a growing preference among buyers for premium properties. Mid-segment homes, priced between Rs 50 lakh and Rs 1 crore, also showed a robust 47% YoY increase.

These trends indicate a clear shift towards more expensive and luxurious properties in the market.

April 2024 Performance

The month of April 2024 alone saw residential property registrations reaching 6,578 units, marking a 46% YoY increase. The total value of these properties was recorded at Rs 4,260 crore, reflecting an impressive 86% YoY rise.

This surge in both the number and value of transactions highlights the sustained demand for residential properties in Hyderabad.

Rising Property Values

The increase in the value of registered homes across all categories is indicative of a broader trend towards higher property prices.

Hyderabad witnessed the most significant rise in price levels at 13%, driven by the development of premium high-rise properties. This trend points to a growing focus on high-end real estate, catering to the affluent segment of the market.

Geographical Spread

Hyderabad’s residential market spans across various districts, including Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.

This broad geographical spread encompasses both primary and secondary real estate markets, reflecting the city’s extensive growth and increasing demand for high-value properties.

Market Dynamics

Several factors are contributing to this robust growth in Hyderabad’s real estate market. The city’s strong economic fundamentals, coupled with infrastructural developments and an influx of multinational companies, have boosted investor confidence.

Additionally, the availability of premium properties and the rise in disposable incomes have made high-value real estate more accessible to a broader segment of buyers.

Future Outlook

Looking ahead, Hyderabad’s real estate market is expected to continue its upward trajectory.

The ongoing development of infrastructure projects, such as new metro lines and improved road networks, will further enhance the city’s connectivity and attractiveness.

Moreover, the increasing trend of urbanization and the growing demand for luxury living spaces are likely to sustain the momentum in high-value property transactions.

Conclusion

In conclusion, Hyderabad’s real estate market is experiencing a significant boom in 2024, characterized by a sharp increase in high-value property transactions.

The city’s appeal as a major real estate hub is bolstered by its strong economic fundamentals, infrastructural developments, and growing demand for premium properties.

With the market dynamics favoring continued growth, Hyderabad is set to remain a hotbed for real estate investments, offering lucrative opportunities for investors and homebuyers alike.