HYDERABAD: Hyderabad city witnessed a substantial increase in residential property registrations last month, with a month-on-month (MoM) growth of 31 per cent. The total value of properties registered during the month reached Rs 2,994 crore, also marking a 31 per cent MoM increase.
A district-level analysis reveals that the Medchal-Malkajgiri district accounted for 45% of the home sales registrations, followed by the Rangareddy district with 39%. The Hyderabad district’s share in total registrations stood at 16 per cent in May 2023.
According to Knight Frank, residential sales in Hyderabad during May were primarily concentrated in properties sized between 1,000-2,000 sq ft. The properties whose prices ranged between Rs 25-Rs 50 lahks witnessed the highest number of registrations. However, alongside bulk transactions, homebuyers also showed interest in luxurious properties. Several notable deals took place in markets such as Hyderabad, Medchal-Malkajgiri, and Rangareddy, involving properties sized over 3,000 sq ft.
Samson Arthur, senior branch director at Knight Frank India, said, “Hyderabad’s residential market remains optimistic, reflecting a strong demand from buyers, particularly for homes ranging between 1,000-2,000 sq ft.”