Hyderabad Sees Over 26k Property Registrations In First 4 Months Of 2024; Details

Hyderabad has achieved the second-highest sales volume and year-on-year (YoY) growth in residential property sales, trailing only Mumbai.
Hyderabad has recorded the second-highest sales volume and year-on-year (YoY) growth in residential property sales. (Representational Image)

Hyderabad has recorded the second-highest sales volume and year-on-year (YoY) growth in residential property sales. (Representational Image)

Photo : Times Now
Hyderabad: In a remarkable surge, Hyderabad has recorded the second-highest sales volume and year-on-year (YoY) growth in residential property sales, trailing only behind Mumbai. The first quarter of 2024 saw the sale of 9,550 residential units in Hyderabad, reflecting a 15 per cent increase compared to the same period last year.
Knight Frank India's latest report highlights that Hyderabad registered 26,027 properties in the first four months of 2024, amounting to a total value of Rs 16,190 crore. This marks a 15 per cent YoY increase in the number of registrations and a significant 40 per cent YoY rise in total value compared to the previous year.
As per a Siasat Daily report, the surge in sales has been primarily driven by higher-value homes, particularly those priced at Rs 1 crore and above, which saw a staggering 92 per cent YoY increase. Mid-segment homes, priced between Rs 50 lakh and Rs 1 crore, also experienced a 47 per cent YoY rise.
The increase in the value of registered homes across all categories indicates a shift towards more expensive properties. Hyderabad witnessed the most significant rise in price levels at 13 per cent, as the focus shifted towards developing premium high-rise properties.
April 2024 alone saw residential property registrations reaching 6,578 units, marking a 46 per cent YoY increase. The value of these properties was recorded at Rs 4,260 crore, showing an impressive 86 per cent YoY rise.
Hyderabad's residential market, encompassing the districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, spans both primary and secondary real estate markets, reflecting the city's growing demand for high-value properties.
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