Hyderabad sees 5,787 registrations of residential properties in October

Hyderabad: Hyderabad has recorded registrations of 5,787 residential properties in October, a 25% increase compared to the same period last year. The total value of properties registered during the month stood at Rs 3,170 crore, which is an increase of 41% over last year. The Hyderabad residential market includes Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy districts.

In October2023, the highest proportion of property registrations in Hyderabad was in the price range of Rs 25 – 50 lakh, accounting for 50% of the total registrations. Properties priced below Rs 25 lakh constituted 16% of the total registrations, a fall from 22% recorded during October 2022. The share of properties with ticket-sizes of Rs one crore and above was 10% in October, up from 8% last year, said a report by real estate consultancy Knight Frank.

About 69 per cent of the registrations were in 1,000-2,000 sq ft size.  Demand for smaller homes (500-1,000 sq ft) fell to 16 per cent during October 2023 from 21% last year.  However, registrations of properties larger than 2,000 sq ft increased two per cent this October to 12% from 10% last year.

Medchal-Malkajgiri maintained the top position with 43% of home sales registrations and Rangareddy followed with 42% of registrations. Hyderabad accounted for 14% 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.