5,877 Residential Properties Sold In Hyderabad In May 2023

In its latest assessment, Knight Frank India noted that Hyderabad recorded registrations of 5,877 residential properties in May 2023, up 31% month-on-month (MoM), while the total value of the properties registered during the month stood at Rs 2,994 crore, also up by 31% MoM.

The Hyderabad residential market includes four districts - Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

The highest proportion of property registrations was in the price range of Rs 25-50 lakhs, accounting for 55% of the total registrations in the month. Registrations for properties priced below Rs 25 lakh constituted 17% of the total.

The share of registrations in the category of properties sized 500-1,000 square feet (sq ft) stood at 16% in the month, slightly lower than the 17% recorded during May 2022. However, there was a moderate increase in the share of registrations of properties sized 2,000-3,000 sq ft, from 7% during May 2022 to 8% in May 2023. The share of properties sized 1,000-2,000 sq ft remained the highest with a total share of 70% during May 2023.

Medchal-Malkajgiri district recorded 45% of the home sales registrations, followed by Rangareddy district with 39%. The share of Hyderabad district in the total registrations was 16%. Residential sales in Hyderabad were mainly within properties sized 1,000-2,000 sq ft, whilst the price range of Rs 25-50 lakh accounted for the highest registrations.

The weighted average prices of the transacted residential properties witnessed a YoY increase of 3%. Hyderabad district recorded the highest price rise at 8% YoY. The Medchal-Malkajgiri market saw a price growth of 4%.