In the midst of the real estate market’s hustle and bustle, Hyderabad stands tall with a certain consistency in terms of residential property registration in April 2023.
According to Knight Frank India’s most recent report, a total of 4,398 apartments were registered during the month, with a total value of Rs 2,230 crore. This figure reflects the city’s thriving residential market, which is quickly becoming a hot spot for both investors and homebuyers.
What’s more, 54% of all homes registered in April 2023 were priced between Rs 25-50 lakh, indicating that the city caters to a wide range of buyers, from budget-conscious to luxury-seekers.
According to the report, 69% of all sales were for homes between 1,000 and 2,000 sq ft, indicating that people in Hyderabad are looking for upgraded homes with more space and amenities.
The report also mentioned that home sales registrations in the Medchal-Malkajgiri district were recorded at 47 percent, followed by Rangareddy district at 38 percent, and Hyderabad district at 14 percent. This demonstrates that demand for residential properties is distributed evenly throughout the city and its surrounding districts, making it an ideal location for real estate investment.
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The report also sheds light on market price trends, with weighted average prices of transacted residential properties falling marginally by 0.3%. YoY during April 2023.
On the latest findings, Samson Arthur, Senior Branch Director, Knight Frank India, stated that the overall market continues to appeal to homebuyers, particularly for larger homes.
“The increased share of registrations came from homes ranging from 1,000-2,000 sq ft, reflecting the desire to upgrade homes with more space and amenities,” he added.
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