Hyderabad actual property registrations dip by 6% in November 2024: Knight Frank India

Hyderabad’s actual property market skilled a slowdown in property registrations throughout November 2024, although a slight rise in demand for high-value houses highlighted evolving purchaser preferences, in response to a Knight Frank India report. Town recorded 5,516 property registrations, reflecting a 12% year-on-year (YoY) lower and a 6% month-on-month (MoM) decline. The overall worth of those registrations amounted to ₹3,495 crore, marking a 7% YoY and three% MoM dip.

Knight Frank’s evaluation contains information from Hyderabad, Medchal Malkajgiri, Rangareddy, and Sangareddy districts.

Whereas properties priced under ₹50 lakh continued to dominate, accounting for 58% of registrations in November 2024, there’s a seen shift in direction of higher-value properties. Houses priced above ₹1 crore represented 14% of complete registrations, up from 12% in November 2023.

Demand for bigger houses

Nearly all of registered properties had been between 1,000 and a pair of,000 sq. toes, contributing to 69% of the entire whereas 14% of properties registered exceeded 2,000 sq. toes, highlighting an growing urge for food for spacious houses.

Shishir Baijal, chairman and managing director of Knight Frank India, stated, “Demand for high-value, premium properties stays sturdy, with a 3% YoY improve in registrations for houses priced above ₹1 crore. Builders are responding to this demand by introducing upscale initiatives, reflecting rising confidence in Hyderabad’s residential market.”

District-wise breakdown

Medchal Malkajgiri led the district-wise property registrations, contributing 42%, adopted by Rangareddy at 41%, and Hyderabad district at 17%. The weighted common value of transacted residential properties elevated by 6% YoY to ₹4,213 per sq. toes. Among the many districts, Medchal Malkajgiri recorded the very best value appreciation at 11%, adopted by Hyderabad district at 10%.

High transactions spotlight luxurious enchantment

Town’s prime 5 transactions in November 2024 had been for properties bigger than 3,000 sq. toes, with values exceeding ₹6.3 crore. All these offers occurred in prime areas akin to Somajiguda, Banjara Hills, and Jubilee Hills, reinforcing the demand for luxurious residing areas in central Hyderabad, the report stated.