Hyderabad realty hits new high, properties worth Rs 12,000 crore sold in Jan-April
Hyderabad: The year 2022 has started off with a big bang for Hyderabad’s real estate. Right from the value of properties sold to the number of properties registered, the city appears to be on a roll. The first four months saw properties worth Rs.12,000 crore being transacted. Out of this, over 5,000 properties were registered […]
Hyderabad: The year 2022 has started off with a big bang for Hyderabad’s real estate. Right from the value of properties sold to the number of properties registered, the city appears to be on a roll.
The first four months saw properties worth Rs.12,000 crore being transacted. Out of this, over 5,000 properties were registered in April alone, while the first three months of 2022 also saw an average of 5,000 to 7,000 properties being registered, reflecting the positive sentiment that buyers and sellers have placed in this segment for this year. In just four months, the total registrations of residential properties also was encouraging at 24,797 units.
Real estate consultancy Knight Frank India noted that sale of 5,331 properties were registered in Hyderabad in April 2022 with the total value of properties transacted in April 2022 standing at Rs.2,767 crore, indicating a 10 per cent rise year-on-year.
The firm also noted that the total number of property registrations in April recorded a decline of 10 per cent year-on-year. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Budget and size
Of all residential sales registered during April 2022, homes in the price band of Rs.25 lakh to Rs.50 lakh constituted 53 per cent of the total sales and the demand in the less than Rs.25 lakh ticket-size weakened with its share constituting only 17 per cent.
Unit sizes over 1,000 sq ft saw an upward trend with over 83 per cent of all home sales registrations in April happening in this segment. Homes in the size of 1,000 – 2,000 sq ft were 72 per cent of all sales registered and the trend of homebuyers looking to upgrade and move into larger living quarters that was sparked by the pandemic continued to hold strong in April 2022 as well.
District preference
A district level study shows that home sales registrations in the Medchal-Malkajgiri district was recorded at 44 per cent in April 2022 followed by Rangareddy district at 40 per cent. The share of Hyderabad and Sangareddy districts in the total registrations remained stable in April 2022.
Knight Frank chairman and MD Shishir Baijal said: “Hyderabad has historically had one of the strongest demand trends which resisted external pressures like economic slowdown and inflation in the recent times. While the rise in prices led by the increased construction cost has impacted the more price sensitive category, the higher segments have however had limited impact keeping the market buoyant and vibrant.”
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