According to the most recent report by Knight Frank India, Hyderabad witnessed the registration of 6,185 residential properties in September 2023, marking a notable 30% year-on-year increase. The total value of registered properties for the month amounted to ₹3,378 crore, reflecting a substantial 42% YoY surge. This suggests a shift towards the sale of higher-priced homes. The residential market in Hyderabad encompasses four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, noted that the Hyderabad housing market is experiencing a significant upswing, driven mainly by an increase in city-wide demand. He highlighted that this demand is focused on the preference for enhanced residential environments that provide modern housing communities with a diverse array of amenities.
In September 2023, the majority of property registrations in Hyderabad were concentrated in the ₹25 – 50 lakh price range, comprising 51% of the total registrations. Properties priced below ₹25 lakh made up 15% of the overall registrations. Notably, the share of sales registrations for properties valued at ₹1 crore and above was 9%, showing an increase from 8% in September 2022.
The registered properties in September 2023 were predominantly in the 1,000-2,000 sq ft size category, constituting 71% of the registrations. There was a decline in demand for smaller homes (500-1,000 sq ft), with registrations for this category decreasing to 14% in September 2023 from 16% in September 2022. On the other hand, there was an uptick in demand for larger properties exceeding 2,000 sq ft, with registrations increasing to 11% in September 2023 from 9% in September 2022.
As per the district-level study, Medchal-Malkajgiri consistently leads with 45% of home sales registrations, closely followed by the Rangareddy district at 41%. In contrast, Hyderabad district contributed 14% to the total registrations in September 2023.
In September 2023, residential sales in Hyderabad were predominantly for properties sized between 1,000 and 2,000 sq ft, with the ₹25 – 50 lakh price range witnessing the highest number of registrations. However, alongside the bulk transactions, homebuyers also invested in upscale properties, characterized by larger sizes and enhanced facilities. Some notable transactions occurred in markets like Hyderabad and Rangareddy, involving properties exceeding 3,000 sq ft and valued at ₹5 crore or more.
In August 2023, the weighted average prices of transacted residential properties experienced a year-on-year increase of 6.4%. Notably, Hyderabad witnessed the most significant price surge, registering a 14% YoY increase, followed by Medchal-Malkajgiri and Rangareddy at 5% and 3%, respectively.
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