Property registrations in Hyderabad up 25% YoY in October

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Hyderabad recorded registration of 5,787 residential properties in October 2023, a rise of 25 per cent on year but down 8 per cent sequentially, Knight Frank India said in a release.

The total value of properties registered during the month was Rs 3,170 crore, up 41 per cent on year and down 8 per cent on quarter.

The Hyderabad residential market includes the four districts of Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

In the first ten months of 2023, property registrations in Hyderabad increased 4 per cent on year to 58,378 units. In terms of value it was Rs 30,458 crore, 11 per cent higher from a year ago.

About half of the property registrations in October were in the price range of Rs 25-50 lakh. Properties priced below Rs 25 lakh constituted 16 per cent of the total, down from 22 per cent in October 2022.

The share of sale registration for properties priced Rs 1 crore and above was 10 per cent in the reporting month, compared to 8 per cent a year ago.

In terms of area, properties measuring 1,000-2,000 sq ft accounted for 69 per cent of the registrations.

Knight Frank said there was a moderation in demand for smaller homes of 500-1,000 sq ft, with their share of registrations falling to 16 per cent during October 2023 from 21 per cent a year ago. However, properties larger than 2,000 sq ft saw their share rising to 12 per cent from 10 per cent last year.

Average prices in the city rose 6.8 per cent on year.

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