In May 2023, there were 5,877 residential property registrations in Hyderabad, which was a 31% increase from the previous month. The total value of the properties registered was INR 2,994 crore, also up by 31% from the previous month. The Hyderabad residential market includes four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
Most of the property registrations in Hyderabad were in the price range of INR 25-50 lakhs, accounting for 55% of the total registrations. Registrations for properties priced below INR 25 lakhs made up 17% of the total. The share of sales registrations for properties with ticket-sizes of INR 1 crore and above increased to 9% in May 2023, compared to 6% in May 2022.
The registrations for properties sized between 500-1,000 sq ft stood at 16%, which is 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 sales registrations at Rangareddy district at 39%. The share of Hyderabad district in total registrations was 16% during May 2023. During May 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 3%. Among the districts, Hyderabad recorded the highest price rise at 8% YoY, suggesting a larger volume of higher value homes sold in that area during the period. Additionally, the Medchal-Malkajgiri market also experienced a price growth of 4% in May 2023.
Residential sales in Hyderabad during May 2023 were mainly within properties sized 1,000-2,000 sq ft whilst the price range of Rs 25 to 50 lakh accounted for the highest registrations. However, some 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, Medchal-Malkajgiri, Rangareddy wherein the properties were sized more than 3,000 sq ft and valued upwards of Rs 4 crore.
