August witnessed a strong preference for properties in the Rs 25 lakh to Rs 50 lakh price range, constituting 52 per cent of total registrations.
Published Date – 03:10 PM, Thu – 14 September 23
Hyderabad: Hyderabad’s property market continues to soar, with Knight Frank India reporting substantial growth in residential property registrations in August.
According to their latest assessment, a total of 6,493 residential properties were registered during the month, marking a remarkable 15 per cent year-on-year (YoY) increase and a significant 17 per cent month-on-month (MoM) uptick.
The total value of these registered properties reached a staggering Rs 3,461 crore, reflecting a robust 22 per cent YoY and 20 per cent MoM surge. The Hyderabad residential market encompasses four key districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
August witnessed a strong preference for properties in the Rs 25 lakh to Rs 50 lakh price range, constituting 52 per cent of total registrations. Homes priced below Rs 25 lakhs accounted for 16 per cent of registrations, while properties valued at Rs 1 crore and above made up 9 per cent.
Demand was predominantly concentrated in the 1,000-2,000 sft size category, representing 70 per cent of registrations. Smaller homes (500 -1,000 sft) saw a rise in demand, accounting for 16 per cent of registrations in August. Furthermore, properties exceeding 2,000 sft also experienced increased demand, with registrations climbing to 11 per cent.
At the district level, Medchal-Malkajgiri maintained its position as the leader in home sales registrations with 43 per cent, closely followed by Rangareddy at 39 per cent. Hyderabad district contributed to 17 per cent of total registrations in August 2023.
The weighted average price of residential properties transacted during August recorded a 5.7 per cent YoY increase. Medchal-Malkajgiri district witnessed the most significant price rise at 6 per cent YoY, followed by Hyderabad and Rangareddy districts with 4 per cent and 2 per cent increases, respectively.
Buyers also invested in larger, upscale properties offering enhanced facilities and amenities. Notable transactions occurred in markets like Hyderabad and Rangareddy, featuring properties exceeding 3,000 sft and valued upwards of Rs 4 crore.
Shishir Baijal, Chairman and Managing Director, Knight Frank India said, “the housing market in Hyderabad is on a significant upswing, driven by a rising demand for improved living spaces, particularly in modern complexes equipped with numerous amenities. Additionally, the RBI’s decision to keep interest rates steady since April 2023 has further boosted buyer confidence”
Top transactions of the month:
District Location Area split (sft) Market Value (Rs)
Rangareddy Begumpet >3,000 8,20,18,200
Hyderabad Banjara Hills >3,000 7,47,84,000
Hyderabad Banjara Hills >3,000 5,60,04,400
Hyderabad Banjara Hills >3,000 4,76,41,350
Ticket Size Sharing of Registrations:
Ticket Size August 2022 August 2023
<25 lakh 17 % 16%
25-50 lakh 55% 52%
50-75 lakh 13% 16%
75 lakh-1 cr 8% 8%
1 cr- 2 cr 6% 7%
>2 crore 2% 2%
(Source: Knight Frank India, Telangana Registration and Stamps Department)
