Hyderabad records a sharp rise in property registrations this month

Knight Frank India noted that Hyderabad recorded registrations of 5,877 of residential properties in May 2023, up 31 per cent month-on-month.

Hyderabad: Reflecting the strong appetite of home buyers, Hyderabad recorded a sharp rise in the property registrations in the month May. In month-on-month terms, property registrations in May shot up by 31 per cent along with a commensurate rise in values of properties registered.

In its latest assessment, Knight Frank India noted that Hyderabad recorded registrations of 5,877 of residential properties in May 2023, up 31 per cent month-on-month (MoM) while the total value of properties registered during the month stood at Rs 2,994 crore, which was also up by 31 per cent MoM.

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The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

In May, the highest proportion of property registrations in Hyderabad was in the price range of Rs 25 lakh to Rs 50 lakh, accounting for 55 per cent of the total registrations while registrations for properties priced below Rs 25 lakhs constituted 17 per cent of the total. Additionally, the share of sales registrations for properties with ticket-sizes of Rs 1 crore and above increased to 9 per cent in May, compared to 6 per cent in May 2022, Knight Frank India noted.

During last month, the share of registrations in the category of properties sized between 500 sft to 1,000 sft stood at 16 per cent, which is slightly lower than the 17 per cent recorded during May 2022.

However, there was a moderate increase in the share of registrations of properties sized 2,000 sft to 3,000 s ft from 7 per cent during May 2022 to 8 per cent in May 2023. Interestingly, the share of properties sized 1,000sft to -2,000 sft remained the highest with a total share of 70 per cent during May2023.

The Knight Frank India study shows that at a district level, Medchal-Malkajgiri recorded 45 per cent of the home sales registrations followed by 39 per cent sales registrations in Rangareddy. The share of Hyderabad district in total registrations was 16 per cent last month.

During May 2023, the weighted average prices of transacted residential properties witnessed a year-on-year (YoY) increase of 3 per cent. Among the districts, Hyderabad recorded the highest price rise at 8 per cent YoY, suggesting a larger volume of higher value homes sold in that area during the period. Additionally, Medchal-Malkajgiri market also experienced a price growth of 4 per cent.

Samson Arthur, Senior Branch Director, Knight Frank India said, “The Hyderabad residential market remains sanguine reflecting the strong appetite of home buyers considering most of the demand has come for homes ranging within 1,000 sft to 2,000 sft. Pause by the RBI with respect to increase in the interest rates has also buoyed the sentiments of home buyers to undertake home buying in high value homes with more space and amenities.”

Properties Registered in Hyderabad in May 2023

* Hyderabad records 31% MoM rise in property registrations in May 2023

* 5,877 apartments registered during May 2023

* Homes worth Rs 2,994 crore registered, up by 31% MoM

* 55% of homes registered in May 2023 cost Rs 25 – 50 lakh.

* 70% of registered homes between 1,000 sft – 2,000 sft, mostly in Medchal-Malkajgiri

Ticket size share of registrations

Ticket-size   May 2022     May 2023

<25 Lakh       18%               17%

25-50 Lakh    55%              55%

50-75 Lakh    13%             13%

75 lakh-1
Crore              7%                7%

1 Crore-2
Crore             5%               7%

>2 Crore      1%                  2%

(Source: Knight Frank Research, Telangana Registration and Stamps Department)

Registration split by unit size

Unit-size in sft     May2022        May2023

0-500                         2%                    3%

500-1,000                 17%                 16%

1,000-2,000             73%                70%

2000-3000              7%                    8%

>3000                      2%                    2%

(Source: Knight Frank Research,Telangana Registration and Stamps Department)