The number of residential property registrations in the city increased by 3 per cent year-on-year this June
Published Date – 14 July 2023, 06:05 PM
HyderabadThe number of residential property registrations in the city increased by 3 per cent year-on-year this June.
A report by Knight Frank India shows that the charm of Hyderabad continues to attract home buyers and the total value of properties registered during the month reached Rs 2,898 crore, registering a growth of 2 per cent year-on-year.
The growing popularity of Hyderabad’s real estate market is spread across four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. A wide range of properties ranging from affordable homes to luxury apartments are finding eager buyers in these districts.
Homes priced between Rs 25 lakh and Rs 50 lakh have seen a significant increase in demand, accounting for 52 per cent of total registrations in June 2023. Additionally, registrations of properties priced below Rs 25 lakh stood at 18 per cent.
Interestingly, high-value properties worth Rs 1 crore and above maintained a stable share of 9 per cent both in June 2023 and last year.
When it comes to property size, homes ranging from 1,000 to 2,000 sq ft continued to dominate the market, garnering a significant 68 per cent share in registrations in June 2023.
Registrations of properties between 500 and 1,000 sq ft remained stable at 17 per cent, while registrations of properties larger than 2,000 sq ft stood at 11 per cent, the Knight Frank report said.
Medchal-Malkajgiri district emerged as the most sought-after location, accounting for 46 per cent of total home sale registrations, followed by Rangareddy with 38 per cent registrations. Hyderabad district accounted for 16 per cent of total registrations in June 2023.
Samson Arthur, senior branch director, Knight Frank India, said, “The Hyderabad residential market remains vibrant, with most home buyers looking for properties between 1,000 and 2,000 sq ft.”