Hyderabad has recorded registrations of 6,185 residential properties in September 2023, up by 30 percent year-on-year (YoY), real estate consultant Knight Frank said on October 18.
The total value of properties registered during the month stood at Rs 3,378 crore up by 42 percent YoY, indicating a movement towards the sale of more expensive homes, the report added.
Registered properties in September 2023 were concentrated in the range of 1,000-2,000 sq ft, with this size category accounting for 71 percent of registrations.
There was a moderation in demand for smaller homes (500 -1,000 sq ft), with registrations for this category falling to 14 percent during September 2023 from 16 percent in September 2022. However, properties larger than 2,000 sq ft saw an increase in demand, with registrations rising to 11 percent during September 2023 from 9 percent in September 2022.
Residential sales in Hyderabad in the same period were mainly within properties sized 1,000-2,000 sq ft whereas the price range of Rs 25–50 lakhs, accounted for the highest registrations.
"However, beyond the concentration of bulk transactions homebuyers also bought plush properties, which are bigger and offer better facilities and amenities. Some of these deals have happened in markets like Hyderabad and Rangareddy wherein the properties were sized more than 3,000 sq ft and valued upwards of Rs 5 crores," the report added.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
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