Homes worth INR 2,230 cr registered in Hyderabad in April 2023: Knight Frank India

Hyderabad: The city recorded registrations of 4,398 units of residential properties during April 2023, while the total value of properties registered stood at Rs 2,230 crore, according to a study by the Knight Frank India.

Knight Frank LLP is a leading independent, global property consultancy. Knight Frank India is headquartered in Mumbai and has more than 1,500 experts across Bangalore, Delhi, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad.

Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The Hyderabad market witnessed increased registration of homes ranging from 1000-2000 sft reflecting buyers’ desire to upgrade their homes with more space and amenities.

Samson Arthur, Senior Branch Director, Knight Frank India said that registration of homes in the price band of Rs 25 – 50 lakh was highest constituting 54% of the total registrations in April 2023, while the share of demand in the less than Rs 25 lakh ticket-size stood at 18%. The cumulative share of sales registrations for properties with ticket-sizes of Rs 1 crore and above increased to 13% during April 2023 from 11% during April 2022.

In April 2023, the share of registrations in category of properties sized 500 – 1,000 square feet (sq ft) stood at 17%, which is higher than the 14% recorded during April 2022. However, the share of properties sized 1,000-2,000 sq ft remained the highest with a total share of 69% during April 2023.

At the district-level, home sales registrations in the Medchal-Malkajgiri district was recorded at 47% followed by Rangareddy district at 38%. The share of Hyderabad district in total registrations was 14% during April 2023.

The weighted average prices of transacted residential properties have declined marginally by 0.3% YoY during April 2023. The market price rise was the highest in Hyderabad, 9% YoY indicating that larger volume of higher value homes was sold in this location during this period. Price growth in the Medchal-Malkajgiri market has also increased by 2% during April 2023.