Hyderabad, [Current Date]: House registrations in Hyderabad, which had been consistently reaching record highs in recent months, witnessed a decline in January, with only 5,411 housing units registered. This figure marks a one percent decrease compared to the same month last year, where 5,454 registrations were recorded, according to a report by Knight Frank.
The greater Hyderabad municipality, comprising districts such as Hyderabad, Medchal, Malkajgari, Rangareddy, and Sangareddy, reported a total registration value of approximately Rs 3,279 crore. Despite a decrease in the number of registrations, the report highlighted a notable 24 percent increase in the overall value of the registered properties.
Analysts attribute this shift to the surge in house prices, which has influenced buyer preferences. Among the total registrations, 47 percent were in the Rs 25-50 lakh price range. Notably, the share of registrations for houses priced below Rs 25 lakh increased from 8 percent to 14 percent.
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Conversely, properties priced above Rs 25 crore constituted 15 percent of the registrations. The report further detailed that registrations for properties with an area of 1,000-2,000 square feet comprised the majority, accounting for 71 percent. Demand for houses measuring less than 1,000 square feet witnessed a decline, while property registrations with an area exceeding 2,000 sq ft saw a notable 13 percent increase, compared to last year’s 9 percent.
Rangareddy district claimed the top spot with a 43 percent share in total registrations, followed closely by Medchal-Malkajgari with 42 percent and Hyderabad with 15 percent. In terms of price trends, the report indicated a 12 percent increase in house prices in Rangareddy district, an 11 percent increase in Hyderabad district, and a 5 percent increase in Medchal-Malkajgari district.
As the real estate landscape undergoes fluctuations, experts anticipate that market dynamics, especially pricing trends, will continue to shape the housing market in Hyderabad in the coming months.
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