Hyderabad Sees Dip in Property Registrations in March Despite Rise in High-Value Home Sales

Hyderabad, India – In a surprising turn of events, the city of Hyderabad witnessed an 8 percent month-on-month decline in residential property registrations during March 2024, according to the latest report released by real estate consultancy Knight Frank India. While overall registrations decreased, the market experienced a surge in high-value home sales, indicating a shifting trend in buyer preferences.

The data reveals that property registrations across Hyderabad, including the surrounding districts of Rangareddy, Medchal-Malkajgiri and Sangareddy, amounted to 5,012 units in March, compared to 5,433 units in February. Despite this dip, the overall value of properties registered during the month remained robust at ₹2,874 crore, showcasing a healthier appetite for premium housing.

One of the standout observations from the Knight Frank report is the sharp increase in demand for properties priced above ₹1 crore. The share of this segment rose from 11 percent in February to 15 percent in March, highlighting growing buyer interest in upscale real estate. In contrast, the sub-₹25 lakh market saw a drop in its share of total registrations, falling from 18 percent in February to 16 percent in March.

Experts suggest that the steady absorption of premium properties may be attributed to rising disposable incomes, a shift in buyer mindset favoring modern amenities, and a surge in demand from the affluent working-class population seeking long-term assets. Developers have also been focusing on launching more high-end projects, catering to this emergent demand.

Meanwhile, the majority of transactions continue to stem from mid-sized properties. Homes comprising 1,000–2,000 sq ft constituted 70 percent of total registrations in March, implying consistent demand in the mid-range housing segment. Properties measuring between 500 and 1,000 sq ft accounted for 17 percent, while units below 500 sq ft comprised a modest 3 percent.

From a geographic standpoint, the Medchal-Malkajgiri district led the way with a 44 percent share of all registrations, followed by Rangareddy at 38 percent and Hyderabad district itself at 15 percent. This trend underscores the increasing popularity of suburban and peri-urban areas which offer larger living spaces and improved infrastructure.

With evolving buyer preferences and a marked tilt toward higher-value residences, Hyderabad’s property market appears to be undergoing a transformation. While the decline in overall registrations may point to short-term market corrections, the growing interest in premium property signals strong long-term confidence among homebuyers and investors alike.