Hyd Real Estate Surges in Oct: Record Registrations, Diverse Demands

Hyderabad: In October 2023, Hyderabad's real estate market saw substantial activity, registering 5787 residential property units valued at Rs 3170 crores. Compared to the previous year, this marked a 25 percent increase overall, with a remarkable 41 percent surge in higher-value homes, as per Knight Frank India's latest report.

The market encompasses Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy districts. Properties priced between Rs 25 and 50 lakhs constituted half of the registrations, making up the largest share. Conversely, properties below Rs 25 lakhs saw a decline in their share from 22 percent in 2022 to 16 percent in 2023. Notably, there was an uptick in registrations for properties priced at Rs 1 crore and above, accounting for 10 percent in 2023 compared to 8 percent in 2022. The most popular size category for registrations was between 1000-2000 sq ft, representing 69 percent of the total registrations.

Demand for smaller homes (500 – 1,000 sq ft) experienced a decrease, dropping to 16 percent in 2023 from 21 percent in 2022. Conversely, properties larger than 2,000 sq ft saw an increase in demand, rising to 12 percent in 2023 from 10 percent in the previous year.

Medchal-Malkajgiri remained dominant, securing 43 percent of home sales registrations, while Hyderabad accounted for 14 percent of the total registrations in Telangana, according to the study.