Hyderabad sees 18,461 residential registrations in Jan-March

Hyderabad: The Hyderabad residential property market is seeing an uptick with the four districts witnessing a total of 18,461 registrations of homes in the first quarter of 2022. The city which broadly constitutes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy saw properties worth Rs 8,680 crore being transacted in the first quarter i.e between […]

Hyderabad: The Hyderabad residential property market is seeing an uptick with the four districts witnessing a total of 18,461 registrations of homes in the first quarter of 2022.

The city which broadly constitutes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy saw properties worth Rs 8,680 crore being transacted in the first quarter i.e between January and March 2022.

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In March alone, the residential property registrations in Hyderabad stood at 5,707 units indicating a 5 per cent increase from February 2022. Properties worth Rs 2,583 crore were transacted in March, a Knight Frank India report said.

Quoting data from Telangana Registration and Stamps Department, the report also mentioned that almost 75 per cent of residential properties were sold under the Rs 50 lakh ticket size category. In terms of share of sales in unit sizes, it said over 1,000 sqft maintained its share at approximate 81 per cent of all home sales registrations in March 2022. Of these, homes in the size of 1,000 – 2,000 sq. ft. consist of 73 per cent of all sales registered during the period.

“The trend of homebuyers looking to upgrade and move into larger living quarters that was sparked by the pandemic, continued to hold strong in March2022 as well,” it said.

The weighted average transacted price of residential properties has grown by 10 per cent year-on-year in March. Sangareddy saw the highest movement of 30 per cent YoY in March 2022 indicating higher value products were sold in this location.

“Price growth in the Hyderabad market has been strong in recent times. With higher value property being sold in March 2022, the weighted average price has shown an uptrend in all micro – markets of Hyderabad,” the report said.

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