Hyderabad: The real estate market in Hyderabad experienced a significant surge in residential property registrations in July 2023. According to the latest assessment by Knight Frank India, Hyderabad recorded registrations for 5,557 residential properties during the month, reflecting a year-on-year (YoY) increase of 26 percent. The total value of properties registered in July amounted to Rs 2,878 crore, representing a substantial 35 percent YoY growth.
The Hyderabad residential real estate market encompasses four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. In July 2023, the majority of property registrations in Hyderabad fell within the price range of Rs 25-50 lakh, constituting 52 percent of the total registrations. Properties priced below Rs 25 lakh accounted for 18 percent of the registrations. High-value property sales, with ticket sizes of Rs 1 crore and above, constituted 9 percent of the registrations in July 2023, slightly higher compared to the figures in July 2022.
Demand for properties in July 2023 was primarily concentrated in the 1000-2000 square feet range, making up 67 percent of all registrations. There was also an increased demand for smaller homes (500-1,000 square feet), with registrations for this category rising to 18 percent during July 2023 from 17 percent in July 2022. Properties larger than 2000 square feet experienced a rise in demand as well, with registrations increasing to 11 percent during July 2023 from 9 percent in July 2022.
At the district level, the study reveals that the Medchal-Malkajgiri district accounted for 46 percent of home sales registrations, followed by the Rangareddy district at 37 percent. The share of Hyderabad’s real estate market of total registrations was 17 percent during July 2023.
Residential sales in Hyderabad during July 2023 were mainly concentrated within the 1000-2000 sq ft property size range, while the price range of Rs 25 to 50 lakh accounted for the highest number of registrations. However, in addition to the bulk transactions, homebuyers also invested in upscale properties, characterized by larger sizes and better facilities and amenities. Some of these premium deals occurred in markets like Hyderabad and Rangareddy, where properties exceeded 3000 sq ft in size and were valued upwards of Rs 5 crore.
