According to the latest report by Knight Frank India, Hyderabad's real estate sector witnessed steady registration numbers in January. A total of 5,411 residential properties were registered during the month, indicating a marginal 1% decline compared to the previous year.
However, despite the slight dip in registrations, there was a significant surge in the total value of registered properties. Year-on-year, the total value jumped by 24% to reach Rs 3,279 crore, signaling a notable shift towards high-value property transactions in the region.
One notable trend in the market is the increasing demand for high-value homes priced at Rs 1 crore and above. In January, these properties accounted for 14% of registrations, up from 8% in the same period last year.
Most of the registered properties fell within the 1,000 – 2,000 sq ft range, comprising 71% of registrations. Conversely, there was a decrease in demand for smaller homes below 1,000 sq ft, with registrations dropping to 16% in January 2024 from 19% in January 2023.
Rangareddy emerged as the top contributor to registrations in January 2024, capturing 43% of the total, followed closely by Medchal-Malkajgiri with 42%. Hyderabad district accounted for 15% of total registrations during the same period.
Besides bulk transactions, there's a noticeable trend of homebuyers investing in larger, high-value properties with enhanced amenities. Significant transactions in areas like Banjara Hills, Somajiguda, Puppalaguda, and Narsingi underscore this trend.
The report also highlights a shift in development activity towards 3-bedroom units, which accounted for 81% of apartment launches in Hyderabad in January 2024
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