Telangana Hyderabad witnesses record-breaking residential property registrations in Dec
Hyderabad had a large increase in residential property registrations in december 2023, reaching 7,254, with a total value of Rs. 4,191 crore, representing a 32% YoY increase and a 12% MoM growth. According to a research from Knight Frank India, december had the highest monthly registration of the year. Analysing the overall performance for the year, the study reveals that 71,912 residential properties were registered in 2023, representing a 5% year-over-year growth.
The hyderabad residential market, which encompasses districts like hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, has both main and secondary real estate markets. In december 2023, a district-by-district study revealed that Medchal-Malkajgiri and Rangareddy were the biggest contributors, accounting for 45% and 40% of overall registrations respectively. The hyderabad district accounted for 14% of all registrations within the same time period.
Breaking down the registrations in december 2023, homes priced between Rs. 25 and 50 lakh formed the largest category at 47%, while those priced below Rs. 25 lakh constituted 15% of overall registrations, indicating a fall in market share. Registrations for homes valued between Rs 75 lakh and Rs 1 crore rose from 7% in december 2022 to 9% in december 2023. The proportion of registrations for homes costing Rs. 1 crore or more also grew, reaching 12% in december 2023 from 9% in december 2022.
71% of registered properties in december 2023 fell between 1,000 and 2,000 square feet, demonstrating a high preference for this data-size group. Demand for smaller dwellings (less than 1,000 square feet) fell to 16%, from 19% in december 2022. In contrast, demand for residences bigger than 2,000 square feet increased, with registrations up to 12% in december 2023 from 11% in december 2022.
The hyderabad residential market, which encompasses districts like hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, has both main and secondary real estate markets. In december 2023, a district-by-district study revealed that Medchal-Malkajgiri and Rangareddy were the biggest contributors, accounting for 45% and 40% of overall registrations respectively. The hyderabad district accounted for 14% of all registrations within the same time period.
Breaking down the registrations in december 2023, homes priced between Rs. 25 and 50 lakh formed the largest category at 47%, while those priced below Rs. 25 lakh constituted 15% of overall registrations, indicating a fall in market share. Registrations for homes valued between Rs 75 lakh and Rs 1 crore rose from 7% in december 2022 to 9% in december 2023. The proportion of registrations for homes costing Rs. 1 crore or more also grew, reaching 12% in december 2023 from 9% in december 2022.
71% of registered properties in december 2023 fell between 1,000 and 2,000 square feet, demonstrating a high preference for this data-size group. Demand for smaller dwellings (less than 1,000 square feet) fell to 16%, from 19% in december 2022. In contrast, demand for residences bigger than 2,000 square feet increased, with registrations up to 12% in december 2023 from 11% in december 2022.