Hyderabad, August 11, 2023: Hyderabad recorded registrations of 5,557 residential properties in July 2023, noting a rise of 26% year-on-year (YoY), mentioned the latest assessment of Knight Frank India. The total value of properties registered during the month stood at Rs 2,878 crore which also increased by 35% YoY.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Registrations in Hyderabad
| Registration (No. of units) | Registration value (INR cr) | |||
| Year | July | YoY change | July | YoY change |
| July 2021 | 9,507 | NA | 4,573 | NA |
| July 2022 | 4,406 | -54% | 2,129 | -53% |
| July 2023 | 5,557 | 26% | 2,878 | 35% |
Source: Telangana Registration and Stamps Department
In July 2023, the highest proportion of property registrations in Hyderabad was in the price range of Rs 25 – 50 lakh, accounting for 52% of the total registrations. The properties priced below Rs 25 lakh constituted 18% of the total registration. The share of sales registrations for properties with ticket-sizes of Rs 1 crore and above was 9% in July 2023, slightly higher as compared to July 2022.
Ticket size share of registrations
| Ticket-size | July 2022 | July 2023 |
| <25 lakh | 18% | 18% |
| 25-50 lakh | 56% | 52% |
| 50-75 lakh | 13% | 15% |
| 75 lakh-1 crore | 6% | 7% |
| 1 crore-2 crore | 5% | 7% |
| >2 crore | 2% | 2% |
Source: Telangana Registration and Stamps Department
The demand for properties in July 2023 was largely concentrated in the 1,000-2,000 square foot (sqft) range, with this size category accounting for 67% of registrations. There was also an increase in demand for smaller homes -500-1,000 sqft, with registrations for this category rising to 18% during July 2023 from 17% in July 2022. The properties larger than 2,000 sqft also saw an increase in demand, with registrations rising to 11% during July 2023 from 9% in July 2022.
Registration split by unit size
| Unit-size in sqft | July 2022 | July 2023 |
| 0-500 | 2% | 3% |
| 500-1,000 | 17% | 18% |
| 1,000-2,000 | 72% | 67% |
| 2000-3000 | 7% | 9% |
| >3000 | 2% | 2% |
Source: Telangana Registration and Stamps Department
According to the Knight Frank study, at a district level, the Medchal-Malkajgiri district recorded 46% of the home sales registrations followed by sales registrations at Rangareddy district at 37%. The share of Hyderabad district in total registrations was 17% during July 2023.
Registration split by district
| District | July 2022 | July 2023 |
| Hyderabad | 16% | 17% |
| Medchal-Malkajgiri | 40% | 46% |
| Rangareddy | 38% | 37% |
| Sangareddy | 7% | 0% |
Source: Telangana Registration and Stamps Department
During July 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 4.5%. Among the districts, Medchal-Malkajgiri district saw the biggest price increase, at 5% YoY. The Rangareddy and Hyderabad districts also saw price increases, of 4% and 2% respectively.
The residential sales in Hyderabad during July 2023 were mainly within properties sized 1,000-2,000 sqft whereas the price range of Rs 25-50 lakh, accounted for the highest registrations. However, beyond the concentration of bulk transactions homebuyers also bought plush properties, which are bigger in size and offer better facilities and amenities. Some of these deals have happened in markets like Hyderabad and Rangareddy wherein the properties were sized more than 3,000 sqft and valued upwards of Rs 5 crore.
Top 5 transactions of the month
| District Name | Location | Area Split (Sq ft) | Market Value (INR) |
| Rangareddy | Puppalguda | >3,000 | 25,19,79,000 |
| Rangareddy | Kokapet | >3,000 | 12,98,46,000 |
| Rangareddy | Hafeezpet | >3,000 | 6,60,00,000 |
| Rangareddy | Puppalguda | >3,000 | 6,41,94,650 |
| Hyderabad | Road No 2 Banjara Hills Mosque | >3,000 | 5,16,72,400 |
Source: Telangana Registration and Stamps Department
According to Samson Arthur, senior branch director, Knight Frank India, “The residential market in Hyderabad continues to be upbeat, with majority of demand for homes sized between 1,000 and 2,000 sqft. The RBI’s decision to maintain interest rates since April 2023 has also boosted buyer sentiment. The need to upgrade to apartments with more space and modern amenities has been a major driver of the Hyderabad residential market”.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
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