Hyderabad records 15% YoY and 17% MoM growth in property registrations in August 2023: Knight Frank India

Hyderabad, September 14th, 2023: In its latest assessment, Knight Frank India noted that Hyderabad recorded registrations of 6,493 residential properties in August 2023, noting a rise of 15% year-on-year (YoY) and 17% month-on-month (MoM), while the total value of properties registered during the month stood at INR 3,461 crore (Cr) which has also increased by 22% YoY and 20% MoM. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

TABLE: REGISTRATIONS IN HYDERABAD

 20222023YoYMoM20222023YoYMoM
 Registration Value Split (INR/cr)Registration Volume Split (No of units)
January3,2612,650-19%-17%7,3435,454-26%-14%
February2,8392,9875%13%5,4355,7255%5%
March3,1353,60215%21%6,7226,9594%22%
April2,7842,286-18%-37%5,3664,494-16%-35%
May3,0613,0680%34%6,3076,039-4%34%
June2,8422,8972%-6%5,4115,5663%-8%
July2,1292,87835%-1%4,4065,55726%0%
August2,8453,46122%20%5,6566,49315%17%
Source: Knight Frank India, Telangana Registration and Stamps Department

In August 2023, the highest proportion of property registrations in Hyderabad was in the price range of INR 25 – 50 lakhs, accounting for 52% of the total registrations. Properties priced below INR 25 lakhs constituted 16% of the total registration. The share of sales registrations for properties with ticket-sizes of INR 1 crore and above was 9% in July 2023, higher as compared with 8% in August 2022.

TABLE: TICKET SIZE SHARE OF REGISTRATIONS

Ticket-sizeAugust 2022August 2023
<25 Lakh17%16%
25-50 Lakh55%52%
50-75 Lakh13%16%
75 lakh-1 Crore8%8%
1 Crore-2 Crore6%7%
>2 Crore2%2%
Source: Knight Frank India, Telangana Registration and Stamps Department

The demand for properties in August 2023 was largely concentrated in the range of 1,000-2,000 sq ft, with this size category accounting for 70% of registrations. There was also an increase in demand for smaller homes (500 -1,000 sq ft), with registrations for this category rising to 16% during August 2023 from 15% in August 2022. Notably properties larger than 2,000 sq ft also saw an increase in demand, with registrations rising to 11% during August 2023 from 9% in August 2022.

TABLE: REGISTRATION SPLIT BY UNIT SIZE

Unit-size in sq ftAugust 2022August 2023
0-5002%3%
500-1,00015%16%
1,000-2,00073%70%
2000-30007%9%
>30002%2%
Source: Knight Frank India, Telangana Registration and Stamps Department

According to the study conducted at the district level, Medchal-Malkajgiri consistently maintains the top position with 43% of home sales registrations, while Rangareddy district closely follows with 39% of sales registrations. In contrast, Hyderabad district accounted for 17% of the total registrations in August 2023.

TABLE: REGISTRATION SPLIT BY DISTRICT

DistrictAugust 2022August 2023
Hyderabad14%17%
Medchal-Malkajgiri41%43%
Rangareddy35%39%
Sangareddy10%0%
Source: Knight Frank India, Telangana Registration and Stamps Department

During August 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 5.7%. Among the districts, Medchal-Malkajgiri district saw the sharpest price increase, at 6% YoY. Hyderabad and Rangareddy districts also saw price upticks of 4% and 2% respectively.

TABLE: TRANSACTED PRICE BY DISTRICT

DistrictWeighted Average Transacted price (INR psf)August 2023 (YoY change)
Hyderabad4,5134%
Medchal-Malkajgiri3,1546%
Rangareddy4,0782%
Sangareddy2,415-19%
Total Market3,7855.7%
Source: Knight Frank India, Telangana Registration and Stamps Department

Note: Weighted average transacted price depicts the price at which properties have been registered in a district/ market during a particular period. It uses the area transacted as the weight.

Residential sales in Hyderabad during August 2023 were mainly within properties sized 1,000-2,000 sq ft whereas the price range of INR 25 – 50 lakhs, accounted for the highest registrations. However, beyond the concentration of bulk transactions homebuyers also bought plush properties, which are bigger in size and offer better facilities and amenities. Some of these deals have happened in markets like Hyderabad and Rangareddy wherein the properties were sized more than 3,000 sq ft and valued upwards of INR 4 crores.

TABLE: TOP 5 TRANSACTIONS OF THE MONTH

District NameLocationArea Split (Sq ft)Market Value (INR)
RangareddyBegumpet>3,0008,20,18,200
HyderabadBanjara Hills>3,0007,47,84,000
HyderabadBanjara Hills>3,0005,60,04,400
HyderabadBanjara Hills>3,0005,60,04,400
HyderabadKhairtabad>3,0004,76,41,350
Source: Knight Frank India, Telangana Registration and Stamps Department

CHART: OVERALL TRANSACTIONS DURING THE MONTH

Source: Knight Frank India, Telangana Registration and Stamps Department

Shishir Baijal, Chairman and Managing Director, Knight Frank India said, “The housing market in Hyderabad is on a significant upswing, driven by a rising demand for improved living spaces, particularly in modern complexes equipped with numerous amenities. Additionally, the RBI’s decision to keep interest rates steady since April 2023 has further boosted buyer confidence. “

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About Knight Frank:

Knight Frank LLP is a leading independent, global property consultancy. Headquartered in London, Knight Frank has more than 20,000 people operating from over 487 offices across 53 markets. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Company, please visit www.knightfrank.com.

Knight Frank India is headquartered in Mumbai and has more than 1,500 experts across Bangalore, Delhi, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad. Backed by strong research and analytics, our experts offer a comprehensive range of real estate services across advisory, valuation and consulting, transactions (residential, commercial, retail, hospitality, land & capitals), facilities management and project management. For more information, visit www.knightfrank.co.in

For further information, please contact:

Piyali Dasgupta (Knight Frank India) +91 9833571204 piyali.dasgupta@in.knightfrank.comTania Banerjee (Knight Frank India) +91 9819004431 tania.banerjee@in.knightfrank.comMansoor Khan (White Marque Solutions) +91 8108385015 mansoor@whitemarquesolutions.com

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