Hyderabad Real Estate Boom: Real Estate Statistics 2024
Hyderabad property registrations in February: In February, 6,938 properties valued at ₹4,247 crore were registered in Hyderabad. Properties priced between ₹25 lakh and ₹50 lakh account for nearly half of the total registrations.
Property market trends in Hyderabad
February saw 6,938 property registrations in Hyderabad, with a total value of ₹4,247 crore. In addition to large-scale purchases, homebuyers favoured high-end properties with better amenities; nearly half of all registrations were for properties priced between ₹25 lakhs and ₹50 lakhs. There was a 21% YoY increase and a 27% MoM increase in the number of residential properties registered in Hyderabad in February 2024, totalling 6,938. The overall worth of these properties hit ₹4,247 crore, an increase of 42% year-on-year and 29% month-on-month, indicating a tendency towards sale of homes with higher values.
Revenue from property registrations in Hyderabad
The districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy are all part of the Hyderabad real estate market. Most registrations in February 2024 were for properties priced between ₹25 lakh and ₹50 lakh, making up 45% of the total, while only 14% were for properties priced below ₹25 lakh. On the other hand, compared to the same period in 2023, the percentage of properties valued at ₹1 crore and above rose to 14% in February 2024, from 10%.
Real estate transactions in Hyderabad
The majority of the registrations in February 2024 were for spaces between 1,000 and 2,000 square feet, making up 71% of the total. In February 2023, demand for homes with 1,000 square feet or less fell to 16% from 20%, while demand for properties with more than 2,000 square feet increased to 13% from 10%. In February 2024, the districts of Rangareddy and Medchal-Malkajgiri captured 43% of the total registrations, with Hyderabad district accounting for 13%.
A substantial year-over-year increase of 10% was noted in February 2024 in the weighted average price of residential properties that were transacted. The report states that the steepest rise was observed in Medchal-Malkajgiri, at 15%, followed by Rangareddy at 5%, and Hyderabad at 2%.
In addition to large-scale purchases, homebuyers also preferred more expensive properties with better amenities. Real estate transactions worth more than ₹ 4.2 crore, involving properties larger than 3,000 square feet, took place in markets such as Rangareddy and Hyderabad. Real estate of considerable value was sold in Puppalaguda in the western part of Hyderabad, in addition to Banjara Hills and Somajiguda in the central part of the city.
