Residential property registrations up 5%

Price Trends

• Most registrations (47%) in Rs 25-50 lakh
• Followed by 15% belowRs 25 lakh

Dist performance in Dec

• Medchal-Malkajgiri accounted for(45%) of registration
• Rangareddy (40%)
• Hyd (14%)

Price & Size Trends

• Average price increase of 7.6% YoY across city
• Hyd dist sees the highest price hike (13%)
• Properties in the 1,000-2,000 sq ft range dominated registrations (71%)

Hyderabad: Hyderabad residential market, in the year 2023, has registered consistent growth in sales. A positive outlook in the market is reflected in the increasing number of property developments and sales. December 2023, the best month in the year for sales of residential properties, witnessed registrations of 7,254 properties worth a total value of Rs 4,191 crore, as per a report.

Knight Frank India in its latest report said that 71,912 residential properties were registered in the city during 2023, registering a rise of five per cent year-on-year while the registration value stood at Rs 38,395 crore, an increase of 14 per cent y-o-y.

Hyderabad recorded registrations of 7,254 residential properties in December 2023, the highest monthly registrations in 2023, recording a rise of 15 per cent year-on-year and 16 per cent month-on-month. The total value of properties registered during the month stood at Rs 4,191 crore, which is higher by 32 per cent y-o-y and 12 per cent month-on-month.

The report further indicated that in December 2023, the single largest category, 47 per cent properties registrations in Hyderabad was in the price range of Rs 25–50 lakh were, while properties priced below Rs 25 lakh constituted 15 per cent of the total registration. Notably there was an increase in registrations for properties in the price of Rs 75 lakh – Rs 1 crore, from seven per cent in December 2022 to nine per cent in December 2023. The share of registrations for properties costing Rs 1 crore and above also increased to 12 per cent in December 2023, as compared with nine per cent in December 2022.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said: “Throughout the year, Hyderabad residential market 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. The impact is not only seen in a noticeable price increase but also in an increased demand for high-quality homes with comprehensive amenities.”

As per Knight Frank’s district-level study conducted in December 2023, Medchal-Malkajgiri and Rangareddy emerged as the primary contributors, comprising 45 per cent and 40 per cent of the total registrations, respectively. Hyderabad district accounted for 14 per cent of the total registrations in December 2023.

During December 2023, the average prices of transacted residential properties witnessed an y-o-y increase of 7.6 per cent. Among the districts, Hyderabad experienced the sharpest increase of 13 per cent y-o-y while Medchal-Malkajgiri and Rangareddy experienced rises of six per cent and five per cent y-o-y, respectively.

The report further mentioned that properties registered in December 2023 were largely concentrated in the range of 1,000 - 2,000 sqft, accounting for 71 per cent of registrations. There was a moderation in demand for smaller homes below 1,000 sqft, with registrations for this category falling to 16 per cent during December 2023 from 19 per cent in December 2022. However, properties larger than 2,000 sqft saw an increase in demand, with registrations rising to 12 per cent during December 2023 from 11 per cent in December 2022.