Hyd sees Rs 3,741 cr property deals in Nov

Hyderabad: The total value of properties registered in Hyderabad during the month of November stood at Rs 3,741 crore, as against Rs 2,903 crore in the last year and Rs 3,175 crore in October, 2023. The 29 per cent year-on-year (y-o-y) and 18 per cent month-on-month (m-o-m) growth indicates a movement towards sale of higher value homes, Knight Frank India said.

As per the latest report released by the property consultant the highest proportion of property registrations in Hyderabad was in the price range of Rs 25 – 50 lakh, accounting for 48 per cent of the total registrations. Properties priced below Rs 25 lakh constituted 13 per cent which has fallen from the 23 per cent share recorded during November 2022.

The share of properties with ticket-size of Rs 1 crore and above was 13 per cent higher as against seven per cent last year. Shishir Baijal, Chairman and Managing Director, Knight Frank India said, “The Reserve Bank of India’s decision to maintain stable interest rates since April 2023 has significantly bolstered homebuyer confidence in Hyderabad which has led to a consistent growth in sales. This optimistic market outlook is evident in the rising number of property developments. The impact is reflected not just in a noticeable price increase but also in the heightened desire for superior homes with comprehensive amenities.”

As per the report, Hyderabad recorded registrations of 6,268 residential properties in November 2023, recording a rise of two per cent y-o-y and eight per cent m-o-m. Wherein, 6,162 units were registered last year and 5,799 units in October 2023. As per the district-level study conducted in November 2023, Medchal-Malkajgiri and Rangareddy emerged as the primary contributors, each comprising 43 per cent of the total registrations. Hyderabad district accounted for 14 per cent of the total registrations in November 2023, identical to its share in the previous period.

These properties registered were largely concentrated in the range of 1,000-2,000 sft, accounting for 71 per cent of registrations.