Hyderabad Residential Property Trends October 2023
According to Knight Frank India, Hyderabad registered 5,787 residential properties in October 2023, a 25% increase year on year but an 8% decrease sequentially.
The overall value of registered properties for the month was Rs 3,170 crore, up 41% year on year but down 8% quarter on quarter.
The Hyderabad residential market consists of four districts: Medchal-Malkajgiri, Rangareddy, and Sangareddy.
Property registrations in Hyderabad climbed 4% year on year to 58,378 units in the first 10 months of 2023. In terms of value, it was Rs 30,458 crore, 11% greater than the previous year.
In October, about half of the property registrations were in the Rs 25-50 lakh price category. Properties valued under Rs 25 lakh accounted for 16% of the total, down from 22% in October 2022.
The share of sale registrations for homes costing Rs 1 crore and above was 10% in the reporting month, up from 8% the previous year.
Property sizes ranging from 1,000 to 2,000 square feet accounted for 69% of all registrations.
According to Knight Frank, demand for smaller homes of 500-1,000 square feet has moderated, with their percentage of registrations falling to 16% in October 2023 from 21% the previous year. However, properties larger than 2,000 square feet increased their share to 12% from 10% last year.
The city’s average price increased 6.8 percent year on year.
Hyderabad Residential Property Trends October 2023
Frequently Asked Questions
A1: According to Knight Frank India, residential property registrations in Hyderabad increased by 25% year on year but decreased by 8% sequentially in October 2023.
A2: The overall value of registered properties in Hyderabad for October 2023 was Rs 3,170 crore, marking a 41% year-on-year increase but an 8% decrease quarter on quarter.
A3: The residential market in Hyderabad comprises four districts: Medchal-Malkajgiri, Rangareddy, and Sangareddy.
A4: Property registrations in Hyderabad increased by 4% year on year to 58,378 units in the first 10 months of 2023, with a total value of Rs 30,458 crore, reflecting an 11% increase from the previous year.
A5: In October 2023, approximately half of the property registrations in Hyderabad were in the Rs 25-50 lakh price category. Properties valued under Rs 25 lakh accounted for 16% of the total, down from 22% in October 2022.
A6: The share of property registrations for homes costing Rs 1 crore and above was 10% in October 2023, up from 8% the previous year.
A7: Property sizes ranging from 1,000 to 2,000 square feet accounted for 69% of all registrations in October 2023.
A8: According to Knight Frank, demand for smaller homes of 500-1,000 square feet moderated, with their percentage of registrations falling to 16% in October 2023 from 21% the previous year.
A9: Properties larger than 2,000 square feet increased their share to 12% in October 2023, up from 10% the previous year.
A10: The city’s average property price increased by 6.8% year on year in October 2023, according to Knight Frank India.
