This is the highest monthly registrations this year, with a growth of 15 per cent year-on-year (YoY) and 16 per cent month-on-month (MoM).
Published Date – 10th January 2024, 04:34 PM
Hyderabad: According to the latest report released by Knight Frank India, Hyderabad real estate has closed the year 2023 on a very positive note, with the increase in residential property registrations reaching a peak of 7,254 in December 2023.
This is the highest monthly registrations this year, registering a growth of 15 per cent year-on-year (YoY) and 16 per cent month-on-month (MoM). The total value of properties registered during December stood at Rs 4,191 crore, registering a growth of 32 per cent year-on-year and 12 per cent month-on-month.
For the full year of 2023, the city recorded 71,912 residential property registrations and in terms of registration value, the year saw a cumulative total of Rs 38,395 crore. The Hyderabad residential market comprises four districts – Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Property registrations in December 2023 comprised 47 per cent of properties priced between Rs 25 lakh and Rs 50 lakh, the largest category of registrations. In contrast, properties priced below Rs 25 lakh accounted for only 15 per cent of total registrations.
Registration of properties priced between Rs 75 lakh and Rs 1 crore increased from 7 per cent in December 2022 to 9 per cent in December 2023. The share of properties priced Rs 1 crore and above also increased from 9 per cent in December 2022 to 12 per cent in December 2023.
District-wise analysis showed that Medchal-Malkajgiri and Rangareddy were the primary contributors with 45 per cent and 40 per cent of total registrations, respectively.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “The Hyderabad residential market has witnessed a steady increase in sales throughout the year. This positive market scenario is reflected in the increasing number of property developments, highlighting the adaptability of developers to meet the changing preferences of discerning buyers.”
District wise registration breakup:
District December 2022 December 2023
Hyderabad 16% 14%
Medchal-Malkajgiri 42% 45%
Rangareddy 36% 40%
Sangareddy 6% 1%
,Source: Knight Frank India, Telangana Registration & Stamping Department)