This marks the highest monthly registrations for the year, boasting a 15 per cent Year-on-Year (YoY) rise and a 16 per cent month-on-month (MoM) increase.
Published Date – 10 January 2024, 04:34 PM
Hyderabad: Hyderabad real estate closed the year 2023 on a very positive note with the surge in residential property registrations hitting a peak at 7,254 in December 2023, according to the latest report released Knight Frank India.
This marks the highest monthly registrations for the year, boasting a 15 per cent Year-on-Year (YoY) rise and a 16 per cent month-on-month (MoM) increase. The total value of properties registered during December stood at Rs 4,191 crore, a substantial 32 per cent YoY climb and a 12 per cent MoM escalation.
For the entire year of 2023, the city recorded 71,912 residential property registrations and in terms of registration value, the year accumulated Rs 38,395 crore. The Hyderabad residential market encompasses four districts – Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
December 2023’s property registrations saw 47 per cent of properties priced between Rs 25 lakh – Rs 50 lakh, the largest category of registrations. Contrarily, properties below Rs 25 lakhs accounted for only 15 per cent of total registrations.,
Registrations for properties priced between Rs 75 lakhs – Rs 1 crore increased from 7 per cent in December 2022 to 9 per cent in December 2023. The share of properties costing Rs 1 crore and above also rose to 12 per cent in December 2023 from 9 per cent in December 2022.
District-wise analysis showcased Medchal-Malkajgiri and Rangareddy as primary contributors with 45 per cent and 40 per cent of total registrations, respectively.
Shishir Baijal, Chairman and Managing Director, Knight Frank India said, “throughout the year, the Hyderabad residential market has exhibited consistent growth in sales. This positive market outlook is reflected in the increasing number of property developments, highlighting developers’ adaptability to meet the changing preferences of discerning buyers.”
Registration split by district:
District Dec. 2022 Dec.2023
Hyderabad 16% 14%
Medchal-Malkajgiri 42% 45%
Rangareddy 36% 40%
Sangareddy 6% 1%
(Source: Knight Frank India, Telangana Registration and Stamps Department)
