Hyderabad: The real estate market in Hyderabad has witnessed a rise in rental rates in some areas of the city. This rise is attributed to the proximity to office hubs.
According to a report by Cushman & Wakefield, a real estate services firm, rental rates in Hyderabad have remained stable across the city. However, some localities located close to office hubs have seen an average rise of six percent quarter-over-quarter (QoQ).
Demand for rental properties is driving rates in Hyderabad
Due to high demand from employees working in office hubs, Banjara Hills, Madhapur, Kukatpally, and Himayat Nagar, have seen an average of a 6 percent quarter-on-quarter (QoQ) and 9 percent year-on-year (YoY) change in rates.
Here are rental rates in these Hyderabad localities:
|Localities||Average quoted rent for high-end segment (INR/month)||Average quoted rent for mid segment (INR/month)|
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Real estate market in Hyderabad saw rise in registration
The real estate market in Hyderabad has also seen a rise in property registrations. According to the latest report from Knight Frank India, 6,185 residential properties were registered in September 2023 in Hyderabad. During the month, the total value of the registered properties was Rs 3,378 crore.
The market experienced a 30 percent year-on-year (YoY) increase in the registration of residential properties in September 2023. The value of the registered properties in the last month saw a 42 percent YoY jump.
The report indicates that Hyderabad saw the highest proportion of property registrations in the price range of Rs 25-50 lakh in September. Properties registered in this price bracket accounted for 51 percent of the total registrations.
Out of these registrations, Medchal-Malkajgiri accounted for 45 percent of property registrations, while Rangareddy district saw 41 percent of registrations. Hyderabad contributed to 14 percent of the total registrations in the real estate market of Hyderabad.