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The registrations were predominantly for apartments in the size range of 1,000 to 2,000 square feet, constituting 70 per cent of all registrations.
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The total value of properties registered during the month stood at Rs. 3,279 crore, which is higher by 24% YoY, indicating a movement towards sale of higher value homes.
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This marks the highest monthly registrations for the year, boasting a 15 per cent Year-on-Year (YoY) rise and a 16 per cent month-on-month (MoM) increase.
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This upswing was attributed to the discernible shift among homebuyers who increasingly prioritize lifestyle upgrades, emphasizing amenity-rich communities in their quest for the ideal living space.
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While Hyderabad is not yet hitting the 100 per cent mark like its counterparts Bengaluru and Mumbai, recent reports suggest a resurgence, signaling a steady return to office work.
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Hyderabad maintained an unchanged affordability index of 30 per cent for both 2022 and 2023, despite a significant surge of 11 per cent in home prices during the last year.
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The YoY increase indicates a movement towards sale of higher value homes in the Hyderabad residential market which includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddyand Sangareddy.
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A Knight Frank India report highlights that the city recorded a total warehousing transaction volume of 2.71 million square feet during the first half of the fiscal year 2024.
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City exhibited a robust 17.71 per cent YoY growth in transactions for office spaces exceeding 100,000 square feet, reinforcing its position as a dynamic business hub in India
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The total value of properties registered during the month stood at Rs. 3,378 crore which too has increased by 42% YoY indicating a movement towards sale of more expensive homes.
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The city has seen a sharp decline in the sales of affordable homes during Q3 2023, spanning from July to September
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August witnessed a strong preference for properties in the Rs 25 lakh to Rs 50 lakh price range, constituting 52 per cent of total registrations.
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The rising EMI to income ratios across Indian cities have been partly attributed to higher home loan rates, impacting affordability for potential homeowners.
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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 number of residential property registrations in the city experienced 3 per cent year-on-year increase this June
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According to Knight Frank India, residential sales have increased by 5 per cent YoY during H1 2023 to 15,355 units, which is the highest growth recorded by a city amongst the top eight cities under their coverage
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This figure speaks volumes about the Hyderabad's flourishing residential market, which is fast becoming a hot spot for both investors and homebuyers
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Residential market across Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy had 6,414 apartments registered in March, a 12% jump from previous month
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Hyderabad stood out as a beacon of hope and opportunity for businesses looking to expand their operations.
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6,311 units registered in December valued at Rs 3,176 crore