HYDERABAD: As per the latest report from Knight Frank India, Hyderabad has recorded registrations of 5,787 residential properties in October 2023, observing a rise of 25 percent year-on-year (YoY). The total value of properties registered during October stood at Rs 3,170 crore which too has increased by 41 percent YoY indicating a movement towards sale of higher value homes. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
In October 2023, the highest proportion of property registrations in Hyderabad was between Rs 25 and 50 lakh, accounting for 50 percent of the total registrations.Properties priced below Rs 25 lakh constituted 16 percent of the total registration which has fallen from the 22 percent share recorded during October 2022. The share of sales registrations for properties with ticket-sizes of Rs 1 crore and above was 10 percent in October 2023, higher as compared with 8 percent in October 2022.
Registered properties in October 2023 were concentrated in the range of 1,000-2,000 sq.ft, with this size category accounting for 69 percent of registrations. There was a moderation in demand for smaller homes (500 - 1,000 sq ft), with registrations for this category falling to 16 percent during October 2023 from 21 percent in October 2022. However, properties larger than 2,000 sq ft saw an increase in demand, with registrations rising to 12 percent during October 2023 from 10 percent in October 2022.According to a study, Medchal-Malkajgiri maintains the top position with 43 percent of home sales registrations, Hyderabad accounted for 14 percent of the total registrations.