Introduction
Hyderabad Property: According to the latest report by Knight Frank India, there were 6,416 registered residential properties in Hyderabad in March 2024. This marks a significant increase of 12% compared to the previous year, indicating a growing demand for real estate in the city. The report also highlighted that the average property prices in Hyderabad have remained stable, making it an attractive market for both buyers and investors.
Table of Contents
- These Districts Are Known for Their High Demand
- Price Category in the Hyderabad Property
- Developers Are Focusing More on Luxury Properties
- 70% of Property Registrations in Hyderabad
At present there is a lot of buying and selling going on in our Hyderabad. Real estate development has increased due to these sales. We can also observe a year-on-year (YoY) decline of 8% based on these higher sales. The total value of assets recorded in the month of March was Rs. 4,039 crores (Cr), indicating a 12% shift towards higher value home sales.
These Districts Are Known for Their High Demand
Four districts, namely Hyderabad, Medchal-Malkajigiri, Ranga Reddy, and Sangareddy, dominate the developed Hyderabad Property in real estate residential market. Provides information on home sales related to the primary and secondary real estate markets.
These districts are known for their high demand and competitive prices. Making them attractive options for investors and homebuyers. Understanding the trends in these districts can help individuals make informed decisions when buying or selling property in Hyderabad.
Price Category in the Hyderabad Property
In March 2024, 45% of all registrations in Hyderabad will be for Rs. 25–50 lakhs properties only. Hence, it is included in the most common price category, according to Frank of India. This data indicates a strong demand for properties within this price range in the city, likely driven by factors such as affordability and investment potential.
Developers and real estate agents should focus on catering to this market segment to capitalize on this trend by understanding buyers’ preferences in Hyderabad. The developers can tailor their offerings to meet the demand for properties in the Rs. 25-50 lakhs range. This targeted approach can increase sales and overall success in the real estate market.
Developers Are Focusing More on Luxury Properties
Properties priced below Rs 25 lakhs, however, accounted for 14% of the total registrations. Rs. This decline in the market share of properties priced below Rs 25 lakh can be attributed to shifting consumer preferences towards higher priced properties with more amenities and features.
Buyers are likely to be willing to stretch their budgets a bit to acquire a property that better meets their needs and wants. Developers are focusing more on mid-range and luxury properties to meet the changing demands. This change may also be a result of increased competition in the market. Overall, this trend indicates a changing landscape in the real estate market. Buyers prioritize quality and value over affordability.
70% of Property Registrations in Hyderabad
Properties registered in March 2024 are mostly concentrated for apartments in the 1,000 – 2,000 sq ft range. But 70% of such property registrations are registered. An increase in remote work and a desire among buyers for more space may increase demand for larger apartments. Availability of facilities and amenities in these size units may also influence this trend.
These larger apartments offer more flexibility for setting up home offices or designated workspaces. This makes them more attractive to buyers looking for a comfortable work-to-home environment. As remote work becomes more common, spacious living spaces are preferred. This is expected to increase the demand for apartments in this size range.
Also read: Hyderabad Real Estate: Residential Property Registrations Decreased in January
Conclusion
At present, sales are going on in Hyderabad. These sales led to real estate development. Many investors are taking advantage of the booming market. leading to an increase in property values and construction projects. This trend is expected to continue as the demand for housing and commercial space in the city is high. As a result, Hyderabad is becoming a hotspot for real estate investments, attracting both local and international buyers. For more information, visit openplot.
Also read: Hyderabad Recorded 6,938 Residential Property Registrations in February 2024.