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Housing

Hyderabad Residential Market Sees 18% YoY Rise in Sales Valued at Rs. 33,641 Crore

Strategic Insights

— 1 min read

The city of Hyderabad has witnessed a significant increase in residential sales, with 54,483 homes sold between January-August 2024, valued at Rs.33,641 crore. This marks an 18% year-on-year rise in the number of registrations and a 41% annual jump in the value of homes sold during the eight-month period, as per IGR data. The market has seen a growth in the luxury segment, with buyers seeking spacious layouts and premium amenities.

Key Takeaways:

  • Hyderabad's residential market has seen a total of 54,483 homes sales valued at Rs.33,641 crore between January-August 2024.
  • The number of registrations has seen an 18% year-on-year rise, while the value of homes sold has seen a 41% annual jump during the eight-month period.
  • Properties priced under Rs.50 lakh grabbed the largest share of the registrations pie in Hyderabad, though the segment's share dropped to 59% in August 2024 from 67% in the same month last year.
  • Sales of homes priced at Rs.1 crore and above soared to 15% this year, from 9% during the same period in 2023.
  • The weighted average price of transacted residential properties witnessed a year-on-year increase of 9% during August 2024, with Rangareddy experiencing the sharpest increase of 10% year-on-year.
  • Residential units of 3 BHK configuration stood as the most popular category accounting for 64% of the launches, compared to a 56% share in the same period last year.
  • The launch of 2BHK units dropped from 25% to 20% year-on-year, while demand for larger configurations like 4BHK and 5BHK recorded a slight moderation of 1% each on an annual basis.

Statistics:

  • 54,483 homes sold between January-August 2024, valued at Rs.33,641 crore.
  • 18% year-on-year rise in the number of registrations.
  • 41% annual jump in the value of homes sold during the eight-month period.
  • 59% in August 2024, down from 67% in August 2023, for properties priced under Rs.50 lakh.
  • 15% year-on-year rise in sales of homes priced at Rs.1 crore and above.
  • 9% year-on-year increase in the weighted average price of transacted residential properties.
  • Rangareddy's weighted average price increased by 10% year-on-year.
  • 64% of launches were residential units of 3 BHK configuration.
  • 20% year-on-year drop in the launch of 2BHK units.

Sources:

  • IGR data
  • Knight Frank India analysis
  • Hindustan Times

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