Hyderabad: As many as 6,938 residential properties were registered in February, an increase of 21% over last year’s 5,725 properties. The total value of properties registered during the month stood at Rs 4,247 crore, higher by 42% over last year’s Rs 2,987 crore and indicating a movement towards sale of higher value homes.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddyand Sangareddyand covers home sales pertinent to the primary and secondary real estate markets.
In February2024, 45 per cent properties were in the price category of Rs 25 – 50 lakh, making it the single largest category of property registered in Hyderabad. Properties priced below Rs 25 lakh constituted 14% of the total registration. Share of sales registrations for properties costing Rs 1 crore and above has increased to 14 per cent in February 2024, as compared with10 per cent last year.
Most of the properties registered were in the 1,000-2,000 sq.ft. There was a moderation in demand for smaller homes (below 1,000 sq ft), with registrations for this category falling to 16% during 20% in February 2023.
Some of these deals happened in Rangareddy and Hyderabad were above Rs 4.2 crore and sized more than 3,000 sq. ft.
“There is a notable surge in demand for premium homes. Prices have consistently risen since the pandemic,” said Shishir Baijal, chairman and managing director, Knight Frank India
