Hyderabad witnesses reverse trend in property registrations in October

Hyderabad: Hyderabad is witnessing the highest growth rate of 10% (CAGR) in residential launches, and the city recorded a 20 percent month-on-month (MoM) surge in property registration in October 2024. During the period, a total of 5,985 residential units were sold in the city limits covering Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.

A whopping 43 percent of properties were registered in Ranga Reddy district. Medchal-Malkajgiri saw 41 percent, and Hyderabad accounted for the remaining 16 percent of home registrations.

Recently, Hyderabad was named India’s fastest-growing real estate market. According to Knight Frank India’s India Prime City Index, residential projects have registered the highest growth rate of 10 percent (CAGR) in residential launches over the past decade and an 11 percent increment in housing prices in 2023.

Registration of properties trend reversal

The number of property registrations in Hyderabad remained unstable this year. According to Knight Frank’s data, the property registrations peaked at 8,781 in July but it soon tapered off and fell by 27 percent to 6,439 in August. The decline continued in September with just 4,903 registrations. However, October changed the course as it saw a 20 percent increase to 5,985 in home registrations.

According to the data, 59 percent of registered properties were priced below Rs. 50 lakh, 27 percent were in the Rs. 50 lakh to Rs. 1 crore bracket, and 14 percent of registrations were for properties priced above Rs. 1 crore.