Hyderabad Residential Property Trends January-April 2024: Hyderabad’s residential market largely consists of four districts – Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy – covering home sales relevant to both primary and secondary real estate markets.
Unlike Mumbai where average flats sizes are getting small and prices big, Hyderabad residents are getting value for money with larger and airy homes. Minimum 1000 sqft is the cut-off size of around 85% flats sold or purchased between January-April 2024.
As many as 26,027 properties were registered in the city in the first four months of 2024, with a total value of Rs 16,190 crore, according to Knight Frank India data. The total property registrations increased 15% year-on-year (YoY). There has also been a 40% YoY increase in total value of registered flats compared to the same period last year.
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What’s driving the trend?
The surge in 2024 registrations has been driven by higher-value homes, especially those priced at Rs 1 crore and above, which saw a 92% YoY increase. Mid-segment homes, costing between Rs 50 lakh and Rs 1 crore, also saw a 47% YoY rise.
The property sales trend in the city shows a clear shift shift towards more expensive or higher-value properties.
Data shows there was a 4% YoY decline in registrations of properties below Rs 50 lakh. But there was a 17% YoY increase in value of such properties, indicating preference for expensive properties even in sub-Rs 50 lakh category. However, this could also mean that low-priced flats are hardly available in the city!
In contrast, registrations for homes priced over Rs 1 crore surged by 92%, although from a comparatively lower base. Also, the value of homes priced above Rs 1 crore jumped by 135% YoY.
Also Read: Can joint owner of a flat get Section 54F benefit after selling another property?
Average flat sizes
Preference for larger homes is also clearly visible among homebuyers in Hyderabad. Data shows 70% of properties registered in April 2024 in Hyderabad were in 1000 sqft to 2000 sqft range, only 13% were in 500-1000 sqft range and 3% in below 500 sqft range.
| Unit-size in sq ft | April 2023 | April 2024 |
| 0-500 | 3% | 3% |
| 500-1,000 | 17% | 13% |
| 1,000-2,000 | 69% | 70% |
| 2000-3000 | 8% | 11% |
| >3000 | 2% | 4% |
As many as 11% properties registered in April 2024 were in 2000-3000 sqft range while 4% properties were of above 3000 sqft size.
At district level, Rangareddy witnessed most registrations (45%) in April, followed by Medchal-Malkajgiri (39%) and Hyderabad (16%).
Average Price
| District | Weighted Average Transacted price (INR per sq ft) | April 2024 (YoY change) |
| Hyderabad | 4,793 | 7% |
| Medchal-Malkajgiri | 3,414 | 15% |
| Rangareddy | 4,763 | 18% |
| Sangareddy | 2,424 | 2% |
| Total Market | 4,305 | 17% |
There was 17% YoY jump in weighted average price of transacted residential properties witnessed during April 2024. Data shows Rangareddy and Medchal-Malkajgiri experienced the sharpest increase of 18% and 15% YoY respectively while Hyderabad and Sangareddy experienced rises of 7% and 2% YoY respectively.
As per Knight Frank Research, Weighted average transacted price HERE depicts the price at which properties have been registered in a district/ market during a particular period. It uses the area transacted as the weight.
Top 5 deals
The top five deals for April 2024 majorly happened in Hyderabad and one in Rangareddy wherein the properties were sized over 3,000 sqft and valued upwards of Rs 4.2 crore. Further, four of the top five properties were in Central Hyderabad while one recorded in Puppalguda is in the West.
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What developers are doing
There is a significant shift in apartment launches during the first four months of 2024. Developers have almost stopped building 1BHK homes and are more focused on 2 BHK and 3 BHK flats.
The share of 3BHK flats in new launches during January-April was 59% while the share of 2BHK flats was 31%. The share of 4BHK flats was 8%. Interestingly, no new 2.5 BHK and 3.5 BHK flats were launched in this period. However, in the same period of previous year, 5% of new launch flats were of 2.5 BHK configuration and 2% were 3.5BHK flats.
Month-wise registrations
In April 2024, 6,578 units of residential properties were registered, marking a 46% YoY increase. The value of these properties was recorded at Rs 4,260 crore, showing a significant 86% YoY rise.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before investing in market-linked instruments.
