Hyderabad’s real estate skyrockets, property registrations in July up by 26 pc

Data collated by Knight Frank India for its latest report revealed a citywide registration count of 5,557 residential properties, accompanied by 35 per cent YoY increase in the total worth of these properties, amounting to Rs 2,878 crore

Hyderabad: The real estate landscape in Hyderabad has witnessed an impressive surge, as property registrations in July 2023 rose by 26 per cent compared to the same period last year.

Data collated by Knight Frank India for its latest report revealed a citywide registration count of 5,557 residential properties, accompanied by 35 per cent YoY increase in the total worth of these properties, amounting to Rs 2,878 crore.

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The buoyant market trends signal a shift in homebuyers’ preferences as well. The analysis indicates that 52 per cent of the properties registered in July fell within the Rs 25 – 50 lakh price range, while the ticket size with the highest registration share shifted to homes spanning 1,000 – 2,000 sq ft, accounting for 67 per cent of all registrations.

The data showcases the market’s resilience as it recovered from a dip in 2022, with a sharp rebound observed in 2023.

The appetite for compact homes (500-1,000 sq ft) saw a marginal uptick to 18 per cent. At the other end of the spectrum, registrations for larger properties above 2,000 sq ft also demonstrated growth, climbing to 11 per cent in July 2023 from 9 per cent in July 2022.

The district-wise trends showed Medchal-Malkajgiri district emerging as a frontrunner with 46 per cent of total home sales registrations followed by Rangareddy district followed with 37 per cent and Hyderabad district with 17 per cent of the total registrations during July 2023.

The report also highlights that beyond the bulk transactions within the 1,000-2,000 sq ft range and the Rs 25 – 50 lakh price bracket, some buyers pursued opulent properties. These exclusive deals often involved sprawling homes exceeding 3,000 sq ft and valued above Rs 5 crores.

Samson Arthur, Senior Branch Director at Knight Frank India, said, “The residential market in Hyderabad continues to be upbeat, with the majority of demand for homes sized between 1000 and 2000 square feet.”