Hyderabad Property Market Registers Cooling in April Sales
The Hyderabad real estate scene, which has enjoyed steady momentum in recent months, witnessed a dip in residential property registrations during April 2024. Marking a deviation from its robust performance, the city recorded a noticeable slowdown in home registrations compared to previous months.
According to data released for April, around 4,092 residential properties were registered in the jurisdiction of Hyderabad, which includes the city and its surrounding urban hubs in Medchal-Malkajgiri, Rangareddy, and Sangareddy districts. This represents a month-on-month decline of nearly 23% in the number of registered properties. The total value of these transactions stood at ₹2,186 crore, showing a 17% decline in overall sales value from March 2024.
Analysts attribute the slide in registrations to a combination of factors, including rising property prices in some micro-markets, marginal fluctuations in interest rates, and changing buyer sentiment. Furthermore, industry insiders suggest that the upcoming election season could have contributed to the short-term hesitancy among buyers looking to invest in real estate.
Market Segmentation and Trends
The lion’s share of registrations continues to come from Medchal-Malkajgiri and Rangareddy districts, together accounting for more than 70% of total property registrations in April. These areas are buoyed by new infrastructure developments and improved connectivity, making them preferred destinations for homebuyers seeking value deals and future growth prospects.
Properties priced between ₹25 lakh and ₹50 lakh continued to dominate sales, contributing to over 50% of total transactions. This critical segment of mid-range housing highlights the continuing demand for affordable and mid-tier homes that strike a balance between budget and amenities. Meanwhile, homes priced above ₹1 crore formed a small but significant share, indicating sustained interest from premium buyers.
Buyer Demographics and Outlook
The majority of homebuyers continue to favor apartments over independent houses, with unit sizes ranging from 1,000 to 1,200 sq ft being particularly popular. Working professionals and nuclear families are the key drivers of demand in this segment.
Despite the April dip, experts remain optimistic about the market’s long-term prospects. Developers and brokers expect a rebound in the coming months, attributing the current trend to a temporary phase stemming from macroeconomic uncertainty and seasonal factors.
As Hyderabad’s real estate ecosystem matures, episodes of consolidation such as this are seen as normal adjustments. With multiple infrastructure projects in the pipeline and a steady influx of population into the city, the foundations remain strong for sustained growth in the property market.
Stakeholders are closely monitoring interest rate movements and regulatory announcements that can impact buyer confidence heading into the next quarter. If market conditions stabilize, Hyderabad is well-positioned to resume its growth trajectory.
