Hyderabad's property market experienced a robust 25% YoY growth in residential property registrations in October 2023, totalling 5,787 properties valued at Rs. 3,170 crore. Notably, higher-value homes saw increased sales, with the Rs. 25 – 50 lakh range dominating registrations. The shift was evident in the reduced share of properties below Rs. 25 lakh. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. Medchal-Malkajgiri led in registrations, comprising 43%, followed closely by Rangareddy at 42%. The weighted average prices witnessed a 6.8% YoY increase, and developers prioritized 3 BHK units, reflecting evolving homebuyer preferences for larger living spaces in Hyderabad's real estate landscape.
Hyderabad's real estate sector witnessed substantial growth, with a remarkable 25% YoY increase in property registrations, totalling 5,787 residential properties valued at Rs. 3,170 crore in October 2023, as reported by Knight Frank India. The surge indicates a shift towards higher-value homes, with a notable 41% YoY increase in the total registered property value. Notably, the Rs. 25 – 50 lakh price range dominated registrations, constituting 50% of the total, while properties below Rs. 25 lakh saw a decline from 22% to 16% compared to October 2022. Homes ranging from 1,000-2,000 sq ft represented 69% of registrations, showcasing a preference for mid-sized properties, whereas demand for smaller homes (500 -1,000 sq ft) decreased from 21% to 16%. However, properties larger than 2,000 sq ft experienced increased demand, rising from 10% to 12% YoY. Beyond bulk transactions, homebuyers also invested in larger, plush properties exceeding 3,000 sq ft, valued at over Rs. 4.5 crore, showcasing a diverse market. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. At the district level, Medchal-Malkajgiri led with 43% of home sales registrations, closely trailed by Rangareddy district at 42%, while Hyderabad district accounted for 14% of total registrations in October 2023. The weighted average prices of transacted residential properties exhibited a notable YoY increase of 6.8% in October 2023. Among the districts, Hyderabad, Medchal-Malkajgiri, and Rangareddy all experienced a 6% increase in property prices. Examining launch trends in the Hyderabad real estate market reveals a significant bias towards 3 BHK units, aligning with evolving homebuyer preferences for more extensive living spaces. Developers strategically prioritize 3 BHK units, reflecting a clear inclination towards larger residences, catering to growing families. More affordable options are available with 2 BHK units for those prioritizing cost-effectiveness. Hyderabad's real estate market continues to evolve to meet diverse demands and preferences. In summary, the surge in property registrations and strategic development focus on larger residences collectively signify the dynamism and adaptability of Hyderabad's real estate market.
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