Hyderabad sets new record for stamp duty mop-up in November

Bengaluru: Hyderabad set a new record for stamp duty collection from residential property registrations in November, as registrations in the city surged 29% year-on-year to about ₹3,741 crore, according to Knight Frank India data. The number of deals increased 25% to 6,268, the data showed, indicating a shift towards higher priced properties.

"The Reserve Bank of India's decision to maintain stable interest rates since April 2023 has significantly bolstered homebuyer confidence in Hyderabad, which has led to a consistent growth in sales," said Shishir Baijal, chairman, Knight Frank India.

"This optimistic market outlook is evident in the rising number of property developments, showcasing developers' agility in meeting the evolving preferences of discerning buyers.