In July 2023, the residential real estate market in Hyderabad saw a large increase in property registrations, indicating tremendous expansion over the previous year. According to a recent Knight Frank India study, a total of 5,557 residential properties were registered during the month, representing a 26 percent year-on-year rise. The total value of these registered properties was Rs 2,878 crore, representing a 35% increase year on year.
The study focused on residential property registrations in four Hyderabad districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. During July 2023, the majority of property registrations in Hyderabad were discovered within the price range of Rs 25-50 lakh, accounting for 52 percent of total registrations. Properties valued under Rs 25 lakh accounted for 18% of all registrations. Notably, high-value property transactions with ticket values of Rs 1 crore and above accounted for 9% of registrations, a little increase over July 2022 numbers.
In July 2023, demand for residential properties was predominantly centered in the 1000-2000 square foot size category, accounting for 67 percent of all registrations. Furthermore, there was an increase in demand for smaller homes ranging from 500 to 1,000 square feet, with registrations for this category increasing to 18% in July 2023 from 17% in the same period in 2022. Larger homes larger than 2000 square feet had increased demand, with registrations climbing to 11% in July 2023 from 9% in July 2022.
When the data was broken down by district, the Medchal-Malkajgiri district accounted for 46 percent of all home sales registrations, followed closely by the Rangareddy district at 37 percent. During July 2023, Hyderabad’s district had a 17 percent share of total property registrations.
During this time period, residential real estate sales in Hyderabad were primarily concentrated in the 1000-2000 sq ft home size category. While the price range of Rs 25-50 lakh saw the most registrations, there were also substantial investments in premium buildings with larger proportions and higher amenities. These premium purchases took place in places such as Hyderabad and Rangareddy, where houses were larger than 3000 square feet and priced at Rs 5 crore or more.
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