Hyderabad: The real estate market in Hyderabad registered homes worth Rs 4,288 crore in June 2024, reflecting a 48 percent year-on-year (YoY) increase and a 14 percent month-on-month (MoM) growth.
According to Knight Frank India, since January 2024, Hyderabad has seen registrations of 39,220 residential properties, marking a 15 percent year-on-year (YoY) increase compared to the first six months of 2023. The cumulative value of these registered properties in the first half of 2024 was Rs 24,287 crore, showing a YoY rise of 39 percent from Rs 17,490 crore worth of properties registered between January and June 2023.
This also indicates a rise in the average cost of homes registered in 2024, which was higher by an average of 21 percent compared to those registered in the first six months of 2023.
Ranga Reddy records the highest home registrations in Hyderabad. The Hyderabad residential market includes four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
At the district level, Ranga Reddy was the top contributor to registrations in June 2024, capturing 43 percent of the market, up from 38 percent in June 2023. Medchal-Malkajgiri and Hyderabad districts accounted for 41 percent and 16 percent of the total registrations, respectively.
The real estate market in Hyderabad is experiencing significant growth due to an influx of major Banking, Financial Services, and Insurance (BFSI) organizations in the first half of 2024 (H1 2024). This trend highlights a shift, positioning Hyderabad as a diverse business hub beyond just the technology and food sectors.
Several prominent BFSI firms, including Cigna Healthcare, Lloyds Bank, Swiss Re, MetLife, DTCC, and Ameriprise, have set up operations in the city.
In H1 2024, the BFSI sector became one of the top three occupiers of office space, securing an impressive 30 percent market share, according to industry reports.
