Telangana Hyderabad - Residential Property Registrations Decline in January
According to the most recent Knight Frank india report, there was a little 1% Year-over-Year (YoY) decrease in hyderabad residential property registrations in January. The overall value of properties registered in the month was Rs. 3,279 crore, up 24% year over year. This suggests that more expensive residences are being sold.
The single largest category of properties registered in hyderabad in january 2024 was those costing between Rs. 25 and 50 lakh, accounting for 47% of all properties. Properties priced less than Rs. 25 lakh made up 15% of all registrations, a further decline in their percentage. Remarkably, compared to january 2023, when it was just 8%, the percentage of sales registrations for houses costing one crore or more jumped to 14% in january 2024.
A significant proportion of homes registered in january 2024 (71%) fell into the 1,000–2,000 square foot bracket, according to the survey. The number of registrations for smaller residences (those under 1,000 square feet) decreased from 19% in january 2023 to 16% in january 2024, indicating a decline in demand for these properties. On the other hand, demand increased for homes bigger than 2,000 square feet, with registrations going up from 9% in january 2023 to 13% in january 2024.
In january 2024, Rangareddy became the district's top contributor to registrations for the first time, accounting for 43% of the total. The previous leader, Medchal-Malkajgiri, finished in second place with 42%. In january 2024, the hyderabad district constituted 15% of the overall registrations.
In january 2024, Rangareddy became the district's top contributor to registrations for the first time, accounting for 43% of the total. The previous leader, Medchal-Malkajgiri, finished in second place with 42%. In january 2024, the hyderabad district constituted 15% of the overall registrations.
The weighted average price of residential properties that were traded had a significant YoY rise of 14% in january 2024. Rangareddy saw the most YoY gain of any district, rising by 12%, while hyderabad and Medchal-Malkajgiri saw increases of 11% and 5%, respectively.
In addition to purchasing large, luxurious residences with superior amenities, purchasers often made smaller, more intimate purchases. Some of these transactions involved properties with data-sizes over 3,000 square feet and values exceeding Rs. 4.2 crores, and they took place in areas like Rangareddy and Hyderabad. The high-value property was sold in banjara hills and Somajiguda in Central hyderabad, as well as Puppalaguda and Narsingi in the West, according to the report.
In addition to purchasing large, luxurious residences with superior amenities, purchasers often made smaller, more intimate purchases. Some of these transactions involved properties with data-sizes over 3,000 square feet and values exceeding Rs. 4.2 crores, and they took place in areas like Rangareddy and Hyderabad. The high-value property was sold in banjara hills and Somajiguda in Central hyderabad, as well as Puppalaguda and Narsingi in the West, according to the report.
The hyderabad residential market encompasses house sales relevant to the primary and secondary real estate markets and is divided into four districts: hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.