This figure speaks volumes about the Hyderabad’s flourishing residential market, which is fast becoming a hot spot for both investors and homebuyers
Hyderabad: Amidst the hustle and bustle of the real estate market, Hyderabad stands tall with a certain consistency in terms of registration of residential properties in April 2023.
According to the latest report by Knight Frank India, a total of 4,398 apartments were registered during the month, with a total value of Rs 2,230 crore. This figure speaks volumes about the city’s flourishing residential market, which is fast becoming a hot spot for both investors and homebuyers.
What’s even more intriguing is that 54 per cent of all the homes registered in April 2023 were in the price range of Rs 25-50 lakh, indicating that the city caters to a diverse range of buyers, from budget-conscious to luxury-seekers.
The report further highlights that 69 per cent of all sales registered for homes between 1,000-2,000 sq ft, indicating that people in Hyderabad are looking for upgraded homes with more space and amenities.
Breaking down the registrations district-wise, the report states that home sales registrations in the Medchal-Malkajgiri district were recorded at 47 per cent, followed by Rangareddy district at 38 per cent, and Hyderabad district at 14 per cent. This showcases that the demand for residential properties is spread evenly across the city and its adjoining districts, making it a prime location for real estate investment.
The report also sheds light on the price trends in the market, with the weighted average prices of transacted residential properties declining marginally by 0.3 per cent YoY during April 2023. However, the market price rise was the highest in Hyderabad at 9 per cent YoY, indicating that a larger volume of higher value homes was sold in this location during this period. Price growth in the Medchal-Malkajgiri market also increased by 2 per cent during April 2023.
Samson Arthur, Senior Branch Director, Knight Frank India, on the latest findings said that the overall market continues to appeal to homebuyers, especially for larger homes.
“The increased share of registrations came from homes ranging from 1,000-2,000 sq ft, reflecting the desire to upgrade homes with more space and amenities,” he added.
Ticket size share of registrations (April 2023)
Less than 25 lakh: 18%
25-50 lakh: 54%
50-75 lakh: 13%
75-1 crore: 7%
1 crore-2 crore: 8%
More than 2 crore: 5%
Registration split by Districts:
District April 2022 April 2023
Hyderabad 15% 14%
Medchal-Malkajgiri 44% 47%
Rangareddy 40% 38%
Sangareddy 1% –
(Source: Knight Frank Research, Telangana Registration and Stamps Dept)