Hyderabad Real Estate Witnesses Rs 4,000 Crore Revival in May
Hyderabad, India: The real estate sector in Hyderabad is showing distinct signs of revival, registering transactions worth over Rs 4,000 crore in May 2024, according to a recent report by Knight Frank India. This surge in property registrations marks a significant indicator of positive sentiment returning to the market amidst broader economic concerns.
The report highlights that over 6,000 residential properties were registered during the month, accounting for a total of Rs 4,043 crore in value. This surge reflects a 17% increase in registrations compared to May 2023, underlining a strong recovery trajectory post-pandemic and in the face of global inflationary pressure.
Major Growth in Mid-Tier Housing Segment
The most noticeable upswing is evident in the mid-tier housing segment, particularly among properties priced between Rs 25 lakh and Rs 50 lakh. This category made up nearly 47% of all residential transactions. Knight Frank attributes this trend to a combination of affordable home loans, stable property prices, and increasing demand from first-time homebuyers and salaried professionals.
Interestingly, higher-end segments also saw a substantial rise, with homes priced Rs 1 crore and above contributing 13% to the total registration value. This demonstrates renewed confidence among premium buyers, possibly driven by improved income visibility and investment considerations amidst volatile financial markets.
Key Localities Driving Growth
Several areas across Hyderabad emerged as hotspots contributing to the city’s real estate upswing. The Medchal-Malkajgiri district led the chart, registering the highest number of transactions, followed by Rangareddy and Hyderabad districts. These regions continue to attract homebuyers due to improved infrastructure, connectivity, and availability of contemporary residential projects.
In terms of unit sizes, homes between 1,000 and 2,000 square feet were the most in demand, representing over 71% of registered properties. These preferences indicate a trend toward functional and affordable living spaces catering to nuclear families and young professionals.
Expert Insights Signal Continued Momentum
Real estate experts and developers are optimistic that this renewed momentum will continue through the remainder of 2024. Shishir Baijal, Chairman and Managing Director of Knight Frank India, remarked that the positive numbers are a testament to Hyderabad’s resilience and its growing appeal as a real estate investment destination.
“With improving infrastructure, strong job creation, and affordable property options, Hyderabad remains a top-performing market. We expect this trajectory to sustain, supported by economic stability and continued demand,” Baijal stated.
Looking Ahead
The May 2024 performance reaffirms Hyderabad’s position as one of India’s most dynamic housing markets. With a balanced mix of affordability, lifestyle offerings, and infrastructure development, the city appears well-positioned to sustain robust growth in both the short and long term.
As stakeholders closely monitor the evolving micro- and macroeconomic landscapes, the data from May serves as a strong indicator of not just market recovery, but a revival driven by end-user confidence. Hyderabad’s real estate sector, it seems, is poised for a renewed phase of expansion.
