Telangana Hyderabad witnesses Rs 3,461 crore worth of property registrations in August
Knight Frank india reported a significant increase in residential property registrations in august, indicating that Hyderabad's real estate market is still on fire. Their most recent estimate indicates that a total of 6,493 residential properties were registered during the month, representing a spectacular 15% year-over-year (YoY) growth and a considerable 17% month-over-month (MoM) increase.
The astonishing total value of these registered properties rose by a strong 22% YoY and 20% MoM, hitting Rs 3,461 crore. The four main districts of Hyderabad—Medchal-Malkajgiri, Rangareddy, and Sangareddy—make up the hyderabad residential market. 52% of all registrations in august were for homes priced between Rs 25 lakh and Rs 50 lakh, indicating a high desire for these types of houses. 16 percent of registrations were for homes under Rs 25 lakh, while 9 percent were for houses worth Rs 1 crore or more.
In terms of home sales registrations at the district level, Medchal-Malkajgiri kept up its lead with 43%, closely followed by Rangareddy with 39%. In august 2023, hyderabad district registrations made up about 17% of all registrations. A 5.7% YoY rise was seen in the weighted average price of residential units sold in August. With a 6% YoY increase, the Medchal-Malkajgiri district saw the largest price increase, followed by hyderabad and Rangareddy districts with 4% and 2% increases, respectively.
A 5.7% YoY rise was seen in the weighted average price of residential units sold in August. With a 6% YoY increase, the Medchal-Malkajgiri district saw the largest price increase, followed by hyderabad and Rangareddy districts with 4% and 2% increases, respectively. Additionally, buyers made investments in larger, more luxurious homes with better amenities and services. Important deals involving homes larger than 3,000 square feet and costing more than Rs 4 crore took place in areas like hyderabad and Rangareddy.
According to Knight Frank india Chairman and Managing director Shishir Baijal, "The housing market in hyderabad is on a substantial upswing, driven by an increasing desire for better living spaces, especially in contemporary complexes outfitted with a variety of facilities. Furthermore, the RBI's choice to maintain stable interest rates since april 2023 has increased consumer confidence.
According to Knight Frank india Chairman and Managing director Shishir Baijal, "The housing market in hyderabad is on a substantial upswing, driven by an increasing desire for better living spaces, especially in contemporary complexes outfitted with a variety of facilities. Furthermore, the RBI's choice to maintain stable interest rates since april 2023 has increased consumer confidence.