This represents a marginal decline of 1 per cent compared to the previous year.
Published Date – 12 February 2024, 05:16 PM
Hyderabad: The real estate market in Hyderabad stable registration figures in January, with a total of 5,411 residential properties registered during the month, latest findings from Knight Frank India, said.
This represents a marginal decline of 1 per cent compared to the previous year. However, the total value of registered properties surged by 24 per cent year-on-year (YoY), reaching Rs 3,279 crore, indicating a shift towards higher-value property transactions.
In terms of property pricing, there has been a notable increase in registrations for properties priced at Rs 1 crore and above, accounting for 14 per cent of registrations in January, up from 8 per cent in the same period of the previous year.
The majority of registered properties in January fell within the 1,000 – 2,000 sq ft range, constituting 71 per cent of registrations. Meanwhile, there was a decline in demand for smaller homes below 1,000 sq ft, with registrations dropping to 16 per cent in January 2024 from 19 per cent in January 2023.
In districts, Rangareddy emerged as the leading contributor to registrations in January 2024, capturing 43 per cent of the total, followed closely by Medchal-Malkajgiri with 42 per cent. Hyderabad district accounted for 15 per cent of total registrations during the same period.
In addition to bulk transactions, there has been a notable trend of homebuyers investing in larger, high-value properties with enhanced facilities and amenities. Some significant transactions in markets like Banjara Hills, Somajiguda, Puppalaguda, and Narsingi highlight this trend.
The report also indicates a shift in development activity towards 3-bedroom units. In January 2024, 3-BHK units accounted for 81 per cent of apartment launches in Hyderabad.
January 2023:
– <25 Lakh: 19%
– 25-50 Lakh: 53%
– 50-75 Lakh: 13%
– 75 lakh-1 Crore: 6%
– 1 Crore-2 Crore: 7%
– >;2 Crore: 1%
– January 2024:
– <25 Lakh: 15%
– 25-50 Lakh: 47%
– 50-75 Lakh: 16%
– 75 lakh-1 Crore: 8%
– 1 Crore-2 Crore: 11%
– >;2 Crore: 3%
Top 5 Transactions of the Month:
1. District Name: Hyderabad
– Location: Banjara Hills
– Area range (Sq ft): >;3,000
– Market Value (INR): 5,16,72,400
2. District Name: Rangareddy
– Location: Puppalaguda
– Area range (Sq ft): >;3,000
– Market Value (INR): 5,09,95,750
3. District Name: Rangareddy
– Location: Narsingi
– Area range (Sq ft): >;3,000
– Market Value (INR): 4,43,87,815
4. District Name: Hyderabad
– Location: Somajiguda
– Area range (Sq ft): >;3,000
– Market Value (INR): 4,22,18,000
5. District Name: Hyderabad
– Location: Somajiguda
– Area range (Sq ft): >;3,000
– Market Value (INR): 4,22,18,000
