Hyderabad property registrations grew 26% in July
Over 5,557 residential units worth Rs 2,878 crore were registered during July 2023
Hyderabad Property Market Registers Strong Growth in September 2023
Hyderabad: Hyderabad recorded 26% year-on-year (YoY) rise in residential property registrations at 5,557 units in July 2023, against 4,406 units in the same month last year, said real estate consultancy Knight Frank India in its latest assessment.
According to the report, the total value of properties registered in July 2023 increased by 35 per cent YoY at Rs 2,878 crore when compared to Rs 2,129 crore during the corresponding month previous year. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. In July 2023, the highest proportion of property registrations in Hyderabad was in the price range of Rs 25-50 lakh, accounting for 52 per cent of the total registrations. The properties priced below Rs 25 lakh constituted 18 per cent of the total registration. The share of sales registrations for properties with ticket-sizes of Rs 1 crore and above was 9 per cent in July 2023, slightly higher as compared to July 2022.
The demand for properties in July 2023 was largely concentrated in the 1,000-2,000 sq ft range, with this size category accounting for 67 per cent of registrations. There was also an increase in demand for smaller homes (500-1,000 sq ft), with registrations for this category rising to 18 per cent during July 2023 from 17 per cent in July 2022. The properties larger than 2,000 sq feet also saw an increase in demand, with registrations rising to 11 per cent during July 2023 from 9 per cent in July 2022.
During July 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 4.5 per cent. Among the districts, Medchal-Malkajgiri district saw the biggest price increase, at 5 per cent YoY. Rangareddy and Hyderabad districts also saw price increases, of 4 per cent and 2 per cent respectively.
Residential sales in Hyderabad during July 2023 were mainly within properties sized 1,000-2,000 sq ft whereas the price range of Rs 25 – 50 lakh, accounted for the highest registrations.
