Hyderabad witnessed a substantial increase in residential property registrations in September, with a year-on-year rise of 30%, according to Knight Frank India’s latest report. A total of 6,185 residential properties were registered, amounting to Rs 3,378 crore, signifying a 42% YoY increase.
This data suggests a shift toward the sale of higher-priced homes in the Hyderabad residential market, encompassing districts like Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
The report highlighted that the majority of property registrations in Hyderabad fell within the price range of Rs 25-50 lakh, accounting for 51% of total registrations, while properties priced below Rs 25 lakh constituted 15% of the registrations. Notably, properties with ticket prices of Rs 1 crore and above made up 9% of the registrations in September 2023, up from 8% in the same period last year.
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In terms of property size, the study revealed that registered properties in September predominantly ranged from 1,000 to 2,000 sq ft, making up 71% of the registrations in this category. Demand for homes in the 500 to 1,000 sq ft range declined, accounting for 14% in September 2023 compared to 16% in the previous year. Conversely, properties larger than 2,000 sq ft saw an uptick in demand, with registrations increasing from 9% in 2022 to 11% in September 2023.
At the district level, Medchal-Malkajgiri led in-home sales registrations with 45%, followed by Rangareddy at 41%, while Hyderabad represented only 14% of the total registrations. The report also highlighted that, alongside bulk transactions, homebuyers invested in more luxurious properties offering larger sizes and enhanced amenities. Notably, some of these transactions occurred in Hyderabad and Rangareddy, involving properties exceeding 3,000 sq ft and valued at over Rs 5 crore.
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