Hyderabad records property sales worth Rs 3170 crores in October

Hyderabad: The real estate market in Hyderabad recorded the registrations of 5787 residential property units valued worth Rs 3170 crores in October 2023.

As per the latest report from Knight Frank India, a rise of 25 percent year-on-year (YoY) was recorded, which indicates an increase of 41 percent in higher-value homes.

The residential market in Hyderabad includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

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In October 2023, the highest proportion of property registrations in Hyderabad was between Rs 25 and 50 lakh, accounting for 50 percent of the total registrations.

However, the properties priced below Rs 25 lakh constituted 16 percent of the total registration which has fallen from the 22 percent share recorded during October 2022.

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

Area-wise property registrations in Hyderabad

Registered properties in October 2023 were concentrated in the range of 1000-2000 sq ft, with this size category accounting for 69 percent of registrations.

There was a moderation in demand for smaller homes (500 – 1,000 sq ft), with registrations for this category falling to 16 percent during October 2023 from 21 percent in October 2022.

However, properties larger than 2,000 sq ft saw an increase in demand, with registrations rising to 12 percent during October 2023 from 10 percent in October 2022.

According to a study, Medchal-Malkajgiri maintains the top position with 43 percent of home sales registrations while Hyderabad accounted for 14 percent of the total registrations in Telangana.