Record-Breaking Home Registrations and Value Growth
In July 2024, Hyderabad’s residential real estate market marked an impressive surge, with home registrations totaling ₹4,266 crore, a significant 48% increase year-on-year (YoY). Hyderabad property registrations 2024 has reached 7,124, reflecting a 28% YoY growth, as reported by Knight Frank India. Cumulatively, from January to July 2024, the city has seen 46,368 home registrations, up by 17% compared to the same period last year. Additionally, the state’s stamp duty revenue for the first half of 2024 surged to ₹28,578 crore, showing a robust 40% YoY growth.
Monthly Breakdown of Home Registrations and Values
2023 vs 2024
| Month | Units Registered 2023 | Units Registered 2024 | YoY Change | Registration Value 2023 (₹ Cr) | Registration Value 2024 (₹ Cr) | YoY Change |
|---|---|---|---|---|---|---|
| January | 5,454 | 5,444 | 0% | 2,650 | 3,293 | 24% |
| February | 5,725 | 7,135 | 25% | 2,987 | 4,362 | 46% |
| March | 6,959 | 6,870 | -1% | 3,602 | 4,275 | 19% |
| April | 4,494 | 6,696 | 49% | 2,286 | 4,310 | 89% |
| May | 6,039 | 6,061 | 0% | 3,068 | 3,759 | 23% |
| June | 5,566 | 7,056 | 27% | 2,897 | 4,314 | 49% |
| July | 5,557 | 7,124 | 28% | 2,878 | 4,266 | 48% |
Annual and Year-to-Date Comparisons
| Period | Units Registered (YTD) | YoY Change | Registration Value (YTD) (₹ Cr) | YoY Change |
|---|---|---|---|---|
| YTD 2022 | 40,990 | -14% | 20,051 | -5% |
| YTD 2023 | 39,794 | -3% | 20,368 | 2% |
| YTD 2024 | 46,386 | 17% | 28,578 | 40% |
Shifts in Property Price Segments
In July 2024, properties priced under ₹50 lakh remained the dominant segment, although their share decreased to 61% from 69% a year ago. Conversely, properties priced at ₹1 crore and above saw a significant rise, accounting for 13% of the total registrations, up from 9% in July 2023. This shift reflects a growing preference for higher-value homes, with a notable 94% YoY increase in registrations for properties priced over ₹1 crore.
| Ticket Size | July 2023 Units | July 2024 Units | YoY Change | July 2023 Value (₹ Cr) | July 2024 Value (₹ Cr) | YoY Change |
|---|---|---|---|---|---|---|
| Under ₹50 lakh | 3,854 | 4,342 | 13% | 1,996 | 2,600 | 30% |
| ₹50 lakh – ₹1 crore | 1,216 | 1,839 | 51% | 630 | 1,101 | 75% |
| Over ₹1 crore | 487 | 943 | 94% | 252 | 564 | 124% |
Market Trends by Property Size
In July 2024, Hyderabad property registrations 2024 i.e properties in the range of 1,000 to 2,000 sqft dominated registrations, comprising 69% of the total. There was a decline in smaller homes (below 1,000 sqft), which now represent 17% of registrations, down from 21% a year ago. Meanwhile, larger properties (over 2,000 sqft) has increased demand, with their share rising to 14% from 11%.
| Unit Size (sqft) | July 2023 Share | July 2024 Share |
|---|---|---|
| 0-500 | 3% | 4% |
| 500-1,000 | 18% | 13% |
| 1,000-2,000 | 67% | 69% |
| 2,000-3,000 | 9% | 11% |
| Over 3,000 | 2% | 3% |
Also read: Future of Real Estate in Hyderabad: Growth, Developments & Investment Areas
District-Wise Registration Insights
Rangareddy led the market with 41% of total registrations in July 2024, up from 37% a year earlier. Medchal-Malkajgiri and Hyderabad followed with 40% and 19%, respectively.
| District | July 2023 Share | July 2024 Share |
|---|---|---|
| Hyderabad | 17% | 19% |
| Medchal-Malkajgiri | 46% | 40% |
| Rangareddy | 37% | 41% |
| Sangareddy | 0% | 0% |
Price Trends and Noteworthy Transactions
The weighted average price of residential properties saw an 8% YoY increase in July 2024. Rangareddy experienced the highest rise of 9% YoY. High-value transactions, particularly for properties exceeding 3,000 sqft, were concentrated in Rangareddy and Hyderabad, with several deals valued above ₹4.3 crore.
| District | Weighted Avg. Price (₹ per sqft) | YoY Change |
|---|---|---|
| Hyderabad | 4,321 | 1% |
| Medchal-Malkajgiri | 3,264 | 6% |
| Rangareddy | 4,428 | 9% |
| Total Market | 3,985 | 8% |
Evolving Apartment Launch Trends
July 2024 saw a rise in 2BHK apartments to 39% of the market, while 3BHK units slightly declined. The market is adjusting to varied buyer preferences, with increased offerings of 1BHK and larger homes, reflecting a dynamic response to housing needs.
| Apartment Type | July 2023 Share | July 2024 Share | YTD 2023 Share | YTD 2024 Share |
|---|---|---|---|---|
| 1BHK | 0% | 2% | 3% | 3% |
| 2BHK | 31% | 39% | 26% | 25% |
| 3BHK | 59% | 55% | 53% | 61% |
| 4BHK | 8% | 3% | 13% | 10% |
Key Factors of Hyderabad’s Real Estate Growth
- Economic Momentum
Hyderabad’s booming economy is a major force behind its real estate surge. The city’s expanding IT sector, burgeoning industries, and infrastructure projects are fueling demand for residential properties. - Low Interest Rates
Persistently low interest rates have made borrowing more affordable, leading to increased home purchases and boosting registration volumes. - Growing Incomes
Rising disposable incomes are shifting buyer preferences towards higher-end properties. As incomes increase, so does the demand for luxurious and spacious homes. - Infrastructure Development
New infrastructure, like metro expansions and improved roads, enhances connectivity, making previously less desirable areas more attractive for residential investment. - Shifting Buyer Preferences
There’s a notable shift towards larger, high-value properties with premium amenities. Buyers are increasingly opting for luxury and spacious homes, affecting market dynamics. - Population Growth and Urbanization
The influx of people moving to Hyderabad for job opportunities and better living conditions is driving up demand for residential properties. - Government Policies
Supportive government policies, such as reduced stamp duties and housing incentives, have made home buying more accessible, stimulating market activity. - Investment Opportunities
Hyderabad property registrations 2024 appeal as a prime investment destination continues to attract both domestic and international investors, boosting real estate transactions. - Focus on Sustainable Living
With a growing emphasis on sustainability, there’s increasing demand for eco-friendly and technologically advanced homes. This trend is shaping new real estate developments. - Adaptive Development Strategies
Developers are responding to market changes by offering a range of housing options, from luxury units to affordable homes, to meet diverse buyer needs and preferences
Also read: GHMC Real Estate : High Increase of Property Registrations and Building Permissions in 2024
Future Outlook for Hyderabad Real Estate Market
- Luxury Demand Growth: Increased interest in large, premium homes will drive continued growth in the luxury segment.
- Rising Property Prices: Ongoing economic expansion and higher disposable incomes will likely lead to further increases in property prices.
- Expanded Developments: Developers will focus on larger and diverse residential projects, including mixed-use developments.
- Infrastructure Enhancements: Improved connectivity from infrastructure projects will make new areas more attractive for residential development.
- Sustainability and Technology: Expect a rise in eco-friendly and smart homes as buyer preferences shift towards sustainable and tech-savvy living solutions.
- Investment Surge: Both domestic and international investors will be drawn to Hyderabad’s growing market, especially in luxury and emerging residential segments.
- New Residential Areas: As infrastructure improves, new hotspots will emerge, attracting development and increasing market opportunities.
- Government Influence: Supportive policies and incentives will continue to shape market dynamics, promoting homeownership and infrastructure growth.
- Technological Advancements: Innovations like virtual tours and digital transactions will enhance the real estate experience and market efficiency
Summary
Hyderabad’s residential real estate market in July 2024 reflects robust growth and shifting buyer preferences. With increased Hyderabad property registrations 2024 , registrations and values, particularly in the luxury segment, the market is adapting to evolving demands. The rise in high-value transactions and diverse apartment offerings highlights the city’s dynamic real estate landscape.
Frequently Asked Questions:
Hyderabad’s real estate market is experiencing increased demand for luxury and high-value properties, a rise in property prices, and significant growth in residential registrations. There is also a shift towards larger homes and sustainable living solutions.
Property prices in Hyderabad have been steadily increasing, driven by economic growth, rising incomes, and enhanced infrastructure. The weighted average price of residential properties saw an 8% YoY increase in July 2024
The demand for luxury homes is fueled by rising disposable incomes, low interest rates, and a shift in buyer preferences towards larger, high-value properties with premium amenities.
Technological advancements, such as virtual property tours and smart home features, are enhancing the buying experience and driving demand for tech-savvy and sustainable homes in Hyderabad
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