Hyderabad residential property registrations rise by 30% YoY in September 2023: Knight Frank India Report
₹3,378 crore which too has increased by 42% YoY indicating a movement towards the sale of more expensive homes. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. “The Hyderabad housing market is currently undergoing a notable upswing, primarily driven by a surge in demand within the city.
Notably, this demand is centred around the desire for improved residential environments that offer contemporary housing communities with a wide range of amenities," said Shishir Baijal, Chairman and Managing Director, of Knight Frank India. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here In September 2023, the highest proportion of property registrations in Hyderabad was in the price range of ₹25 – 50 lakh, accounting for 51% of the total registrations.
Properties priced below Rs25 lakh constituted 15% of the total registration. The share of sales registrations for properties with ticket sizes of ₹1 crore and above was 9% in September 2023, higher as compared with 8% in September 2022. Registered properties in September 2023 were concentrated in the range of 1,000-2,000 sq ft, with this size category accounting for 71% of registrations.
There was a moderation in demand for smaller homes (500 -1,000 sq ft), with registrations for this category falling to 14% during September 2023 from 16% in September 2022. However, properties larger than 2,000 sq ft saw an increase in demand, with registrations rising to 11% during September 2023 from 9% in September 2022. According to the study conducted at the district level, Medchal-Malkajgiri consistently maintains the top
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