The Hyderabad property market is barging ahead in a congenial atmosphere. The market excelled in the registration of properties in the month of February.
In February, 6,938 houses were registered in Hyderabad, registering an increase of 21 percent in property registrations done during the corresponding month last year, reveals a Knight Frank report.
Compared to property registrations carried out in January this year, the number of registrations done in February increased by 27%.
The report indicated that the sale of the costliest homes is on the rise.
As usual, the trend of sales of houses priced between Rs 25 lakh and Rs 50 lakh continued. They occupied 45% of the total registrations that took place in February.
However, registration of the properties in this category registered a slight decrease in February this year compared to the registration of the properties in this category done in February last year.
The sale of houses costing Rs 1 crore and more has increased. They occupy 10% of the total properties registered. In February 2024, their share grew to 14% from 10% during the corresponding month last year.
The priority of the customers is changing the size of the houses too. The demand for houses with plinth areas ranging between 1000 and 2000 square feet has been increasing. They constitute 71% of the total number of houses registered.
The registration of properties less than 1000 square feet has registered a slight decrease. Last year, they constituted 20% of the total houses. This year, their share shrank to 16% in February. The sale of houses with plinth areas greater than 2000 square feet is on the rise. Their share in February last year constituted only 10 percent, as against 13% during February this year.
