Hyderabad’s property market has demonstrated remarkable resilience, with July 2024 witnessing a striking 48% year-on-year increase in property registrations, reaching an impressive ₹4,266 crore. A recent report by Knight Frank India highlights that the number of registrations for the month soared to 7,124 units, reflecting a robust 28% year-on-year growth. This surge contributes to a cumulative total of 46,368 home registrations in Hyderabad since January 2024, marking a solid 17% increase compared to the same period last year. Additionally, the state’s stamp duty revenue experienced a notable upswing, climbing to ₹28,578 crore between January and June 2024, a remarkable 40% year-on-year rise.
While properties valued below ₹50 lakh continue to dominate the market, their share has decreased from 69% in July 2023 to 61% this year. Conversely, there has been a pronounced shift towards higher-value properties, with registrations for homes priced at ₹1 crore and above rising significantly to 13% of the total in July 2024, up from 9% the previous year. This trend illustrates a growing inclination among buyers toward premium properties, with registrations for high-value homes showing a staggering 94% year-on-year increase in July 2024. Such dynamics not only reflect changing buyer preferences but also indicate the evolving economic landscape in Hyderabad, where increasing disposable incomes are allowing more individuals to invest in higher-end real estate.
The ongoing performance in property registrations and stamp duty revenue underscores the vibrancy of Hyderabad’s real estate sector, attracting significant investment and interest from various quarters. As the market continues to thrive, it highlights a broader trend in urban India, where economic growth and evolving demographics are reshaping housing demands. However, this shift raises concerns about affordability and accessibility for lower-income groups, who may feel increasingly priced out of the market as the demand for premium properties escalates.
