Hyderabad's high-value home registrations surge over Rs 4,000 cr- Know hotspots in the city

Hyderab's housing high: real estate market in Hyderab experienced a notable surge in high-value home registrations during March 2024, according to latest report from Knight Frank India. report indicates a shift towards sale of higher-value properties, with a total of 6,416 residential properties registered, representing a 12 per cent year-on-year (YoY) increase in registration value, totalling Rs 4,039 crore.

How is 2024 looking for Hyderab?

In realty market of Hyderab, year 2024 commenced with a stey volume of registrations, maintaining parity with preceding year's figures. re was a notable surge in February, with a 25 per cent increase in registrations compared to same period in 2023.

This momentum continued into March, although re was a slight downturn in number of registrations, marking an 8 per cent decrease YoY. Despite this, total value of registrations in March soared by 12 per cent compared to previous year, reflecting a notable movement towards higher-value properties.

In terms of monetary value, January witnessed a substantial 24 per cent increase YoY, followed by an even more significant surge of 46 per cent in February. March, although experiencing a dip in volume, still recorded a 12 per cent growth in registration value compared to corresponding period in 2023.

Price preferences and property sizes

Properties in price range of Rs 25 – 50 lakh accounted for 45 per cent of all registrations, making it most common price category.

However, proportion of registrations for properties priced at Rs 1 crore and above rose to 16 per cent in March 2024, an increase from 10 per cent in March 2023.

Apartments in range of 1,000 - 2,000 sq ft dominated registrations, constituting 70 per cent of all registrations.

Which districts are driving market growth?

In March 2024, distribution of property registrations across districts in Hyderab exhibited notable variations compared to previous year.

Rangareddy emerged as leing contributor, capturing 46 per cent of market share, a significant increase from 34 per cent recorded in March 2023.

Medchal-Malkajgiri maintained its share at 40 per cent of total registrations, demonstrating consistency YoY. However, Hyderab district experienced a slight decline, comprising 14 per cent of registrations compared to 16 per cent in March 2023.

Notably, Sangareddy district saw a substantial decrease, accounting for only 1 per cent of registrations in March 2024, down from 10 per cent in preceding year.

Top 5 real estate deals in Hyderab

top five real estate transactions in Hyderab for month were concentrated exclusively in Rangareddy district. All five transactions occurred in Kondapur and Kokapet areas, indicating a preference for se locales amongst affluent buyers. Notably, each property involved exceeded 3,000 sq ft in area, reflecting a demand for spacious accommodation.

highest-valued transaction, recorded in Kondapur, amounted to Rs 7.3 crore, followed closely by two ditional transactions in same area, each exceeding Rs 6.3 crore. Anor notable transaction took place in Kokapet, with a property valued at Rs 5.86 crore.

Rounding off top five was anor transaction in Kondapur valued at Rs 5.32 crore.

Shift in apartment sizes

In first quarter of 2024, property market witnessed a shift in s of apartment launches compared to same period in 2023. While 1BHK and 2BHK apartments maintained a presence, re was a decline in introduction of larger units.

Particularly notable was complete absence of 2.5-BHK, 3.5-BHK, and 5-BHK apartments, indicating a clear downturn in launch of mid-sized and larger units.

In contrast, proportion of 2BHK apartments surged from 23 per cent to 32 per cent, reflecting a growing preference for moderately-sized units amongst buyers. dominance of 3BHK apartments remained consistent, capturing majority share of market.