Telangana Hyderabad sees surge in residential property registrations
According to Knight Frank India's most recent report, hyderabad had a notable increase in residential property registrations in february 2024, reaching 6,938, a significant 21% increase from the previous year and a 27% leap from the previous month.
A trend towards the sale of higher-priced residences is evident as the overall value of registered properties reached Rs 4,247 crore, demonstrating a significant year-over-year increase of 42% and a month-over-month surge of 29%.
The residential market in hyderabad, which encompasses the districts of hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, has seen changes in the sales of real estate in all price ranges.
A trend towards the sale of higher-priced residences is evident as the overall value of registered properties reached Rs 4,247 crore, demonstrating a significant year-over-year increase of 42% and a month-over-month surge of 29%.
The residential market in hyderabad, which encompasses the districts of hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, has seen changes in the sales of real estate in all price ranges.
Properties priced between Rs 25 and Rs 50 lakh made up the biggest category in february 2024, accounting for 45% of all registrations. Conversely, just 14% of registrations were for assets valued at less than Rs 25 lakh.
Significantly, the percentage of residences costing one crore or more rose from 10% in february 2023 to 14% in february 2024, suggesting a rising demand for upscale real estate.
There was a decline in demand for smaller homes under 1,000 square feet and an increase in demand for bigger properties above 2,000 square feet, with 71% of registrations being for properties between 1,000 and 2,000 square feet.
Significantly, the percentage of residences costing one crore or more rose from 10% in february 2023 to 14% in february 2024, suggesting a rising demand for upscale real estate.
There was a decline in demand for smaller homes under 1,000 square feet and an increase in demand for bigger properties above 2,000 square feet, with 71% of registrations being for properties between 1,000 and 2,000 square feet.
In february 2024, hyderabad district contributed 13% of all property registrations, while Rangareddy and Medchal-Malkajgiri emerged as the leading contributors, each accounting for 43% of all registrations.
The weighted average price of residential properties that were sold experienced a notable 10% year-over-year increase. The areas with the biggest increases were Medchal-Malkajgiri (15%), Rangareddy (5%) and hyderabad (2%).
The weighted average price of residential properties that were sold experienced a notable 10% year-over-year increase. The areas with the biggest increases were Medchal-Malkajgiri (15%), Rangareddy (5%) and hyderabad (2%).