Property registrations zoom 25% in Hyderabad last month

Hyderabad: Hyderabad has recorded a rise of 25 per cent in registrations of residential properties at 5,787 units in October 2023, over 4,634 units in the same month last year, says a report. As per the latest report from Knight Frank India, the total value of properties registered during the month increased 41 per cent at Rs 3,170 crore against Rs 2,252 crore in the same month a year-ago.

The city residential market includes Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. During October 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 6.8 per cent. Among the districts, Hyderabad, Medchal-Malkajgiri and Rangareddy all experienced a 6 per cent increase in property prices respectively.

In October 2023, the highest proportion of property registrations was in the price range of Rs 25 – 50 lakh, accounting for 50 per cent of the total registrations. While the properties priced below Rs 25 lakh constituted 16 per cent of the total registrations which has fallen from the 22 per cent share recorded during October 2022.

The share of sales registrations for properties with ticket-sizes of Rs 1 crore and above was 10 per cent in October 2023, higher as compared with 8 per cent in October 2022.

Shishir Baijal, Chairman & MD, Knight Frank India said, “The Hyderabad housing market is currently experiencing a significant surge in demand.