Home sales registrations in the Medchal-Malkajgiri district were 46%, followed by 36% in the Rangareddy district. According to the latest report from real estate research firm Knight Frank India, Hyderabad's adjoining districts of Medchal Malkajgiri and Sangareddy continue to be preferred destinations for new home buyers, with a high number of registrations taking place in the former and more high-value homes being sold in October.
Home sales registrations were recorded at 46% in the Medchal-Malkajgiri district, 36% in the Rangareddy district, and 14% in the Hyderabad district. According to registration data, the weighted average price of transacted residential properties has increased by 12% year over year, with Sangareddy district experiencing the steepest increase of 37%, indicating that more expensive homes were sold in this area during this time.
Recently, there has been rapid price growth in the Hyderabad market, and more expensive properties are selling. In Hyderabad, 4,597 residential property units with a combined value of 2,237 crore were registered.
56,003 residential units worth a total of 27,509 crore have been registered in the city since the year's beginning, down from 67,685 residential units worth a total of 30,108 crore registered during the same period last year. Four districts of Hyderabad—Medchal-Malkajgiri, Rangareddy, and Sangareddy—make up the residential market.
Residential units priced between 25 lakh and 50 lakh made up 51% of all registrations, an increase of 40%. However, demand for tickets priced under 25 lakh rupees declined, with its share falling to 22% from 35% a year earlier. As the cumulative share of sales registrations for properties with ticket-sizes of above 50 lakh increased to 27% from 25% in October 2021, there was still a clear increase in demand for larger ticket-size homes.
The demand for larger homes is still looking promising, despite the rise in home loan interest rates and the significant headwinds brought on by global geopolitical tensions. According to Shishir Baijal, chairman and managing director of Knight Frank, "we anticipate that momentum for higher value homes will continue in the months ahead.
Samson Arthur, senior branch director, noted that despite a slight slowdown in sales, "Hyderabad residential sector grew stronger in 2021 due to a supportive socioeconomic environment, advanced infrastructure, and a business-friendly administration."
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