The Hyderabad residential market consists of four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. (Representational image)
Hyderabad real estate: In April 2023, the share of registrations in the 500 – 1,000 square feet (sq ft) size category of properties stood at 17%.
In the latest assessment, Knight Frank India said Hyderabad recorded registration of 4,398 units of residential properties during April 2023, while the total value of registered properties stood at Rs 2,230 crore. The Hyderabad residential market consists of four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Registration of homes in the price band of Rs 25 – 50 lakhs accounted for 54% of the total registrations in April 2023, while the ticket-size of less than Rs 25 lakhs accounted for 18% of the demand. The cumulative share of sale registrations for properties with ticket size of Rs 1 crore and above increased from 11% during April 2022 to 13% during April 2023.
In April 2023, the share of registrations in the 500 – 1,000 square feet (sq ft) size category of properties stood at 17%, up from 14% recorded during April 2022. However, the share of properties sized 1,000-2,000 sq ft remained the highest during April 2023 with an overall share of 69%.
At the district level, the study showed that Medchal-Malkajgiri district recorded 47% of home sale registration, followed by Rangareddy district which recorded 38%. Hyderabad district accounted for 14% of the total registrations during April 2023.
The weighted average prices of residential properties transacted during April 2023 declined marginally by 0.3%. The market value growth was the highest in Hyderabad, at 9% annually indicating that a significant amount of high-priced homes were sold in this location during the period. The price appreciation in the Medchal-Malkajgiri market has also increased by 2% during April 2023.
Samson Arthur, Senior Branch Director, Knight Frank India said, “Despite the Hyderabad market registering a decline in registrations during April 2023, this is in line with the pattern seen in the same month last year. Overall the market attracts home buyers, especially for bigger homes. An increased share of registrations came from homes of 1000-2000 sq ft, indicating a desire to upgrade homes with more space and amenities.”
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