Hyderabad: Hyderabad has recorded a 30 per cent increase in the registration of residential properties at 6,185 units in September 2023, over 4,766 units in September 2022. The value of properties registered in September 2023 stood at Rs 3,378 crore, up 42 per cent over last year’s Rs 2,378 crore, said a report by real estate consultancy Knight Frank.
On a sequential basis, however, the registrations fell by five per cent from 6,493 registrations in August to 6,185 registrations. The value was also down two per cent compared to Rs 3,461 in August.
In September 2023, 51 per cent of properties registered in Hyderabad were in the price range of Rs 25 lakh to Rs 50 lakh . Properties priced below Rs 25 lakh constituted 15 per cent of the total registration. The share of properties with a ticket-size of Rs 1 crore and above in the overall registrations in September 2023 was nine per cent, which is up one per cent over last year. Some of these deals happened in markets like Hyderabad and Rangareddy wherein the properties were sized more than 3,000 square feet and valued upwards of Rs 5 crore.
Properties sized 1,000-2,000 square feet accounted for 71 per cent of registrations. Registration of smaller homes (500-1,000 sqft) fell to 14% this September from 16 per cent last year. Properties larger than 2,000 sq ft saw an increase in demand, with registrations rising to 11 per cent from nine per cent in last September.
“The Hyderabad housing market is currently undergoing a notable upswing. The optimistic market sentiment is reflected in the escalating number of property developments,” said Shishir Baijal, chairman and managing director, Knight Frank India.
