Hyderabad sees dip in property registrations in March

Hyderabad Desk

Hyderabad: Hyderabad recorded a 10% month-on-month drop in residential property registrations in March 2024, with a total of 6,416 properties registered. The total value of these properties was Rs 4,039 crore, marking a 7% decline from the previous month.

This data covers four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. Rangareddy district led the market with 46% of the registrations, followed by Medchal-Malkajgiri and Hyderabad districts with 40% and 14%, respectively.

Apartments between 1,000 to 2,000 square feet dominated the market, making up 70% of all registrations. The demand for smaller homes below 1,000 square feet decreased to 16%, and the interest in larger properties over 2,000 square feet grew to 15%.

In terms of prices, the majority of property registrations, 45%, were for homes priced between Rs 25 lakh and Rs 50 lakh. However, properties under Rs 25 lakh saw a decrease in share, contributing only 14% to the total registrations. On the other hand, high-end properties priced above Rs 1 crore increased their share to 16%, up from 10% in March of the previous year.

The average price of transacted residential properties in Hyderabad rose by 12% year-on-year. Medchal-Malkajgiri saw the highest price increase at 13%, while Ranga Reddy and Hyderabad districts experienced increases of 8% and 3%, respectively.

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