Hyderabad, July 15 (NSS):Knight Frank India reported that Hyderabad has registered homes worth Rs 4,288 crore during June 2024 up by 48% year-on-year (YoY) and by 14% month-on-month (MoM), whilst number of registrations stood at 7,014 units up by 26% YoY and 16% MoM. The Hyderabad residential market encompasses four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, covering home sales relevant to both primary and secondary real estate markets.
Since January 2024, Hyderabad has seen registrations of 39,220 residential properties which is higher by 15% YoY when compared to the first six months in 2023. The rise, however, is sharper in the cumulative value of the registered properties in the first six months, which was registered at INR 24,287 crores indicating a YoY hike of 39% against INR 17,490 crores worth properties registered between the months of January – June 2023. This also indicates a rise in the average cost of homes registered in the 2024 which was higher by an average 21% against those registered in first six months of 2023.
At a district-level, Ranga Reddy emerged as leading contributor to registrations in June 2024, capturing 43% of the market, a sharp increase as compared to the 38% recorded in June 2023. Medchal-Malkajgiri and Hyderabad district accounted for 41% and 16% respectively of the total registrations. (NSS)
