Hyderabad logged home sales worth Rs 12,000 crore since January

HYDERABAD: Hyderabad has witnessed home sales worth Rs 12,000 crore since January, taking the total registrations of residential properties to 24,797 units since the beginning of this year. According to Knight Frank, the total value of properties transacted in April stood at Rs 2,767 crore (a 10 percent rise YoY). However, in terms of total number of property registrations, April 2022 recorded a decline of approximately 10 percent YoY. The Hyderabad residential market includes four districts -- Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

Of all residential sales registered during April, 53 per cent homes were in the price band of Rs 25 lakh - Rs 50 lakh. Demand in the below Rs 25 lakh ticket-size weakened with its share constituting 17 percent. The share of sales registrations of all other ticket-size segments witnessed a marginal growth in YoY terms in April.With approximately 83 per cent of all home sales registrations in April being of unit sizes of over 1,000 sq ft, the sector maintained its share. Homes in the size of 1,000 - 2,000 sq. ft. constituted 72 per cent of all sales registered during the period. 

The trend of homebuyers looking to upgrade and move into larger living quarters, sparked by the pandemic, continued to hold str-ong in April 2022 as well.A district level study shows that home sales registrations in the Medchal-Malkajgiri district was recorded at 44 per cent in April followed by Rangareddy district at 40 per cent. The share of Hyderabad district in total registrations remained stable at 15 percent in April. 

Shishir Baijal, chairman and managing director, Knight Frank said, “Hyderabad has historically had one of the strongest demand trends which resisted external pressures like economic slowdown and inflation in recent times. While the rise in prices led by the increased construction cost has impacted the more price sensitive category, the higher segments have had limited impact keeping the market buoyant and vibrant.”