Registration | The 2023 year’s highest monthly registrations were achieved with a 15% year-on-year (YoY) growth and a 16% month-on-month (MoM) growth. Openplot explains to you about the Hyderabad property sale registration record.
Hyderabad: According to the latest report released by Knight Frank India, Hyderabad real estate ended. The year 2023 was on a positive note as residential property registrations rose to a record high of 7,254 in December 2023.
Knight Frank India Releases Latest Report
This represents the highest monthly registrations in the year with year-on-year (YoY). Growth of 15 percent and month-on-month (MoM) growth of 16 percent. The total value of assets recorded in December was Rs. 4,191 crore, a significant 32 percent yoy growth and 12 percent MoM growth.
For the entire year 2023, 71,912 residential property registrations were registered in the city, and as per registration value, that year Rs. 38,395 crores were collected. The Hyderabad residential market comprises four districts – Hyderabad, Medchal-Malkajigiri, Rangareddy, and Sangareddy.
December 2023’s property registrations saw 47 percent of properties priced between Rs 25 lakh to Rs 50 lakh, the largest category of registrations. Contrary to expectations, properties under Rs 25 lakhs accounted for only 15 percent of total registrations.
Rs. 75 lakhs Registrations of properties priced between Rs.1 crore increased from 7 percent in December 2022 to 9 percent in December 2023. The share of properties costing Rs.1 crore and above increased from 9 percent to 12 percent in December 2023.
District-wise Registration Dec. 2022 Dec. 2023 Details
District-wise registration December 2022 December 2023 details Hyderabad: 16% year on year, 14% month on month. Medchal-Malkajigiri: 42%, 45% Ranga Reddy year: 36%, 40%, Sangareddy: 6%, 1% registered. The registration numbers in Hyderabad district saw a steady increase both annually and monthly. Medchal-Malkajigiri and Ranga Reddy districts also experienced significant growth in registrations compared to the previous year.
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