Hyderabad experienced a surge in residential property registrations in December 2023, reaching 7,254 and marking the highest monthly registrations for the year, according to a report by Knight Frank India. This reflected a substantial 15% year-on-year (YoY) increase and a 16% month-on-month (MoM) growth.
The total value of registered properties in December 2023 amounted to ₹4,191 crore, indicating a substantial 32% YoY uptick and a significant 12% MoM rise. Examining the entire year’s performance, the report reveals that 71,912 residential properties were registered in 2023, showcasing a 5% YoY increase. The cumulative registration value for the year stood at ₹ 38,395 crore, signifying a substantial 14% YoY rise.
The Hyderabad residential market, encompassing districts such as Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, includes both primary and secondary real estate markets. A district-wise analysis in December 2023 identified Medchal-Malkajgiri and Rangareddy as the primary contributors, accounting to 45% and 40% of total registrations, respectively. The Hyderabad district constituted 14% of the registrations in the same period.
