Hyderabad property registrations rise 14% to Rs 3,617 cr in Oct

Hyderabad: Residential properties worth Rs3,617 crore have been registered during October 2024, reflecting a 14 per cent year-on-year (YoY) and 28 per cent month-on-month (MoM) growth in value terms, according a latest assessment by Knight Frank Research.

As many as 5,985 residential units were registered, marking a 2 per cent YoY from 5,799 units a year ago. The momentum in registrations rebounded in October following the completion of Shradh/Pitra Paksha period (September 17 to October 2, 2024). 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 Rs50 lakh usually dominate registrations. However, a notable premiumisation trend has emerged over the last few months. Share of sales of homes priced at Rs1 crore and above rose from 10 per cent to 14 per cent in October 2024, highlighting a shift in buyer preferences toward higher-value properties. Registrations for homes over Rs1 cr saw a significant 36 per cent YoY increase