In June this year, the number of residential real estate registrations in the city increased by 3% year-on-year
Release date – Friday, July 23 at 06:05 PM
Hyderabad: In June this year, the city’s residential real estate registrations increased by 3% year-on-year.
The glamor of Hyderabad continues to attract homebuyers, with the total value of properties registered at Rs 2,898 crore during the month, up 2% year-on-year, according to a Knight Frank India report.
The growing popularity of the Hyderabad real estate market extends to four districts, namely Hyderabad, Medchal-Malkajgiri, Rangaredy and Sangareddy. In these areas, properties ranging from affordable housing to luxury condominiums are attracting eager buyers.
Demand for homes priced between Rs 2.5 lakh and Rs 5 lakh has surged to account for 52% of total registrations in June 2023. Also, properties priced below Rs 2.5 lakh accounted for 18% of the total number of registrations.
Interestingly, high-value properties worth Rs 1 crore and above maintained a steady 9% share in June 2023 and the previous year.
In terms of property size, homes between 1,000 and 2,000 square feet dominate the market, accounting for 68% of registrations in June 2023.
Knight Frank reported that properties between 500 and 1,000 sq ft registered a consistent 17% share, while properties over 2,000 sq ft maintained an 11% share.
Medchal-Malkajgiri district emerged as the most popular with 46 per cent of the total house sales registrations, followed by Rangareddy with 38 per cent. In June 2023, the Hyderabad region accounted for 16% of the total registrations.
Samson Arthur, Senior Director, Knight Frank India, said: “The Hyderabad residential market remains vibrant with most buyers looking for properties between 1,000 and 2,000 sq ft.”
