Hyderabad recorded registrations of 5,181 units of residential properties in August 2022, up by 20% month-on-month basis with the demand and registrations returning after witnessing a decline in the previous month on account of ‘Ashada Masam’, considered less auspicious for new embarkments.
Research agency Knight Frank-India in its latest report said the total value of properties transacted last month stood at ₹2,658 crore, also registering a growth of 26%. Since the beginning of the year, the city has observed sales of 46,078 residential units with a total worth of ₹22,680 crore.
Hyderabad residential market includes the four districts Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. Residential units in the price band of ₹25 – ₹50 lakh constituted 55% of the total sales, an increase from a share of 37% when compared to August 2021. Demand in the less-than-₹25 lakh ticket-size however weakened with its share constituting 16% compared to 35% 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 ₹50 lakh increased to 29% from 28% during the same period. The segment of sales in unit-sizes over 1,000 sq ft maintained its share at an approximate 83% of all home sales registrations.
Homes in the size of 1,000 – 2,000 sq. ft. were 72% of all sales registered during the period. The trend that was set during the pandemic by the consumers to upgrade their property and move into larger living quarters, continued to hold strong. Home sales registrations in the Medchal-Malkajgiri district was recorded at 44% followed by Rangareddy district at 38% and Hyderabad district was 14%.
The weighted average prices of transacted residential properties as per the registration data has grown by 9% year on year. Sangareddy district saw the steepest rise of 38% indicating more higher-value homes were sold in this location during this period. Price growth in the Hyderabad market has been strong in recent times. There has been an increase of 20% in both residential registrations as well as State earnings from home registrations, while observing a reduction of 36% on yearly basis.
Hyderabad residential market continues to experience robust demand trends. We expect home demand to remain stable as end-users continue to be drawn to purchases backed by job security, rising household incomes and savings, said chairman and managing director Shishir Baijal, in a press release.
