Hyderabad: In the last month, Hyderabad recorded registrations of 4,307 units of residential properties. The total value of properties registered in the month stood at Rupees 2,198 crores.
As per Knight Frank India’s latest assessment, the city observed registration of 50,953 residential units with a total worth of Rs 25,094 crores in the current year compared to registrations of 62,052 residential units amounting to Rs 27,640 observed in a similar period last year. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Residential units in the price band of Rs 25 – 50 lakh constituted 55 percent of the total sales in September 2022, which is an increase from a share of 39 percent in September 2021. Demand in the less than Rs 25 lakhs ticket-size, however, weakened with its share constituting 16 percent compared to 36 percent a year ago.
Greater demand for larger ticket-size homes remained evident as the cumulative share of sales registrations for properties with ticket-sizes of more than Rs 50 lakh increased to 28 percent in September 2022 from 25 percent in September 2021.
In September 2022, the category of sales in units larger than 1,000 square feet maintained its share of approximately 81 percent of total house sales registrations. Homes in the size of 1,000 to 2,000 square feet accounted for 71 percent of all sales during the period. The consumer trend of upgrading their home and moving into larger living quarters that began during the pandemic continued in September 2022
At the district level, the study shows that home sales registrations in the Medchal-Malkajgiri district was recorded at 43 percent followed by the Rangareddy district at 41 percent. The share of Hyderabad district in total registrations was recorded at 15 percent in September 2022.
With inputs from NSS
