Initially, there were doubts and concerns when Revanth Reddy assumed the role of Chief Minister of Telangana. Many were worried about the potential impact on Hyderabad’s progress and feared a decline in real estate and overall development.
However, Revanth Reddy’s performance has defied expectations. Despite lacking ministerial experience, he has effectively led the state, boosted his party’s popularity, and worked towards the development of the state.
Contrary to fears, the real estate sector has flourished under his leadership.
In March, Hyderabad witnessed a substantial increase in high-value home registrations, totaling over Rs 4,000 crore.
The number of registered residential properties rose by 12% compared to the previous year, with a significant portion falling in the range of 1,000 to 2,000 square feet.
Notably, there has been a shift in demand towards higher-priced properties, with a rise in registrations for homes priced above Rs 1 crore.
Rangareddy district emerged as the leader in registrations, capturing 46% of the market share.
The weighted average price of residential properties also saw a significant year-on-year increase, with the Medchal-Malkajgiri district experiencing the highest rise.
The top transactions in March 2024 were predominantly in Rangareddy district, involving properties sized over 3,000 square feet and valued at over Rs 5.3 crores.
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