Hyderabad sees 25% jump in registration of residential properties in October
Hyderabad: Hyderabad has recorded a 25 per cent growth in registrations in October as compared to those registered in October last year. In value terms, 5,787 residential properties that were registered in October were worth Rs 3,170 crore, which is an increase of 41 per cent over last year.
A majority of property registrations in Hyderabad was in the price range of Rs 25 lakh to Rs 50 lakh, accounting for 50 per cent of the registrations. Properties priced below Rs 25 lakh constituted 16 per cent, a fall from 22 per cent in October 2022, said a report by the real estate consultancy Knight Frank.
The share of properties with ticket size of Rs 1 crore and above was 10 per cent in October, up from eight per cent last year, it added,
The Hyderabad residential market includes Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy districts.
About 69 per cent of the registrations were done for the properties having floor space of 1,000 to 2,000 square feet. Demand for smaller homes (500-1,000 sq ft) fell to 16 per cent during October from 21 per cent last year. The registration of properties which are larger than 2,000 sq ft increased by two per cent to 12 per cent from 10 per cent in October last year.
Medchal-Malkajgiri maintained the top position with 43 per cent of home sales registrations and Rangareddy followed with 42 per cent of registrations. Hyderabad accounted for 14 per cent of the total registrations in October 2023.
“The Hyderabad housing market is currently experiencing a significant surge in demand. This demand is centred on the apartment complexes which offer more amenities,” said Shishir Baijal, chairman and managing director, Knight Frank India.
