Hyderabad's real estate market has had an astounding upsurge, as the number of property registrations increased by 26% over the same month in the previous year in July 2023. 5,557 residential properties were registered in the city overall, according to data gathered by Knight Frank india for its most recent report, and their combined value increased by 35% YoY to Rs 2,878 crore.

The positive market trends also portend a change in homebuyers' tastes. According to the data, 52% of the properties registered in July were priced between Rs 25 and Rs 50 lakh, and 67% of all registrations were for residences between 1,000 and 2,000 square feet, according to the ticket size with the biggest registration share. The data demonstrates the market's tenacity as it rebounded from a decline in 2022 and saw a robust resurgence in 2023.

The desire for small houses (500-1,000 square feet) increased somewhat to 18%. On the opposite extreme, registrations for bigger homes above 2,000 square feet also showed increase, increasing from 9% in July 2022 to 11% in July 2023. According to district-level statistics, the Medchal-Malkajgiri district emerged as the leader with 46% of the total registrations for house sales in July 2023, followed by Rangareddy district with 37% and hyderabad district with 17%.

The survey also emphasises that some purchasers sought highly lavish residences in addition to the mass transactions in the 1,000–2,000 square foot area and the Rs. 25–50 lakh price range. These private agreements frequently entailed expansive residences measuring more than 3,000 square feet and costing more over Rs 5 crore. Knight Frank India's Samson Arthur, Senior Branch Director, stated that "the residential market in hyderabad continues to be upbeat, with the majority of demand for homes sized between 1000 and 2000 square feet."
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SIBY JEYYA

12/08/2023 08:51 AM