Hyderabad: As many as 6,938 residential properties were registered in February, posting a 21 per cent rise over 5,725 properties registered in the yearago period. The total value of properties registered during the month stood at Rs 4,247 crore, which is 42 per cent more than the yearago period’s Rs 2,987 crore, indicating a movement towards the sale of higher value homes.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. It covers home sales pertinent to the primary and secondary real estate markets.
In February 2024, 45 per cent properties were in the price category of Rs 25-50 lakh, making it the single largest category of the property registered in Hyderabad. Properties priced below Rs 25 lakh constituted 14 per cent of the total registration. The share of the registration of 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 per cent from 20 per cent 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 Covid pandemic,” said Shishir Baijal, chairman and managing director, Knight Frank India
