Hyderabad Records 6,493 Property Registrations in August, Marking a 15% Year-on-Year Increase: Knight Frank Report

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    Hyderabad witnessed a substantial surge in property registrations during the month of August 2023, with a notable 15 percent year-on-year growth, according to a report released by property consultancy Knight Frank. This surge was further emphasized by a 17 percent month-on-month increase.

    The total valuation of properties registered in the city for the month reached an impressive Rs 3,461 crore, reflecting a substantial 22 percent rise compared to the same period in the previous year.

    Shishir Baijal, Chairman and Managing Director of Knight Frank India, attributed this remarkable growth to several factors. “The housing market in Hyderabad is experiencing significant momentum, driven primarily by the escalating demand for enhanced living spaces, especially within modern complexes boasting a plethora of amenities. Furthermore, the Reserve Bank of India’s decision to maintain stable interest rates since April 2023 has contributed significantly to bolstering buyer confidence,” stated Baijal.

    Affordable Housing Segment Flourishes

    The Knight Frank report highlighted that the majority of property registrations in Hyderabad during August were concentrated in the price bracket of Rs 25-50 lakhs, constituting a substantial 52 percent of the total registrations. Properties priced below Rs 25 lakhs accounted for 16 percent of the overall registrations. Additionally, the segment of properties with price tags exceeding Rs 1 crore witnessed a growth in sales registrations, with a 9 percent share in July 2023, compared to 8 percent in July 2022.

    Demand Focused on Specific Property Sizes

    In August 2023, the demand for properties in Hyderabad was predominantly centered around the 1,000-2,000 square feet category, making up a significant 70 percent of the total registrations. Smaller homes, ranging from 500-1,000 square feet, also experienced increased demand, constituting 16 percent of total registrations, up from 15 percent in the previous year. Properties exceeding 2,000 square feet also garnered higher demand, accounting for 11 percent of the total registrations in August, compared to 9 percent in August 2022.

    Furthermore, residential sales in Hyderabad during August 2023 predominantly involved properties sized between 1,000-2,000 square feet, with the price range of Rs 25-50 lakhs witnessing the highest number of registrations.

    The property market in Hyderabad continues to exhibit robust growth, driven by various factors that are enhancing the city’s real estate landscape.

    Also read: Mumbai Property Registrations Surge 27% in August, Hitting 10,902 Units: Knight Frank Reports

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