Hyderabad Property Registrations Up 7% in 2024: Knight Frank

New Delhi, Jan 20 (PTI) Registration of properties in Hyderabad rose 7 per cent last year to 76,613 units mainly on better housing demand, according to Knight Frank.

There were 71,912 properties registered during the 2023 calendar year.

Real estate consultant Knight Frank India said the total value of properties registered increased 23 per cent to Rs 47,173 crore during 2024 from Rs 38,395 crore in the preceding year.

During 2024, the residential segment accounted for around 90 per cent of the total registrations.

The Hyderabad market covers four districts - Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. The data includes transactions from both the primary and secondary real estate markets.

Knight Frank India Chairman and Managing Director Shishir Baijal said, "Hyderabad's real estate market has continued its upward trajectory in 2024, showcasing resilience and adaptability. Property registrations increased by 7 per cent year-on-year, highlighting sustained demand."

"A notable shift in buyer preferences has emerged: properties priced below Rs 50 lakh now account for 60 per cent of registrations, down from 68 per cent in 2023. Meanwhile, the share of properties valued above Rs 50 lakh has climbed to 40 per cent, up from 32 per cent last year," he said.

Baijal said this trend reflects a rising preference for premium and luxury living, driven by Hyderabad's strong economic fundamentals and the growing aspirations of homebuyers.

He said the real estate developers are responding proactively to this demand by launching upscale projects tailored to evolving market needs.

Madhusudhan G, CMD of Sumadhura Group, said, "Hyderabad's surge in property registrations is a reflection of its growing appeal as a hub for real estate investment propelled by ample employment and entrepreneurship opportunities, growing domestic and foreign investments along with a conducive policy environment."

The city's real estate activity has significantly increased over the last few quarters driven by proactive steps in infrastructure development, ease of doing business and rapid expansion of the technology ecosystem in the city, he added.