In the month of November, Hyderabad recorded 6,119 residential property registrations, an increase of 32% month on month (MoM). The total value of registered properties in the month was Rs 2,892 crore.
According to Knight Frank India’s most recent assessment, the city has registered 62,159 residential units worth Rs 30,415 crore since the beginning of the year, compared to 75,453 residential units worth Rs 33,531 crore registered during the same period last year. Hyderabad’s residential market is divided into four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
Residential units in the price range of Rs 25 lakh to Rs 50 lakh accounted for 50% of total registrations in November, up from 37% in November 2021.
However, demand for tickets priced less than Rs 25 lakh has decreased, with a share of 22% compared to 39% a year ago. Greater demand for larger ticket-size homes persisted, with Knight Frank India reporting that the cumulative share of sales registrations for properties with ticket-sizes of Rs 50 lakh and above increased to 28% in November 2022 from 24% in November 2021.
In November 2022, the share of registrations in the unit category of properties sized 500 – 1000 square feet increased to 22% from 15% in November 2021, while properties sized 1,000 square feet or higher saw a drop in share from 74% in November 2021 to 65% in November 2022.
The study found that home sales registrations were highest in the Medchal-Malkajgiri district (41%), followed by the Rangareddy district (39%). The Hyderabad district’s share of total registrations was 14 percent in November 2022, according to the Knight Frank report.
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In November 2022, the weighted average price of transacted residential properties increased by 12% year on year. Sangareddy district saw the highest YoY increase of 47 percent in November 2022, indicating that more higher-value homes were sold in this area during this time period. In recent years, the Hyderabad market has experienced rapid price growth. With higher value property being sold in November 2022.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated, “Residential registrations in Hyderabad increased by 32 percent MoM in November 2022, while observing a 21 percent decline on yearly basis. The city’s residential market saw some relief in November as the Hyderabad market witnessed an uptick in registrations despite major headwinds from geopolitical developments and a spike in home mortgage rates over the last few quarters.”
Samson Arthur, Senior Branch Director, Knight Frank India said, “Hyderabad’s residential registrations grew in November 2022 despite the impact of rising interest rates and concerns about inflation as the city continues to witness demand supported by its booming socioeconomic environment, cutting-edge infrastructure, and business-friendly policies. The increase in registrations for high value homes over the course of the year, clearly reflects the city’s upbeat outlook”.
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