Hyderabad city sees 152 per cent rise in home registrations

HYDERABAD:  Home registrations in Hyderabad increased by 152 per cent year-on-year (YoY) to 6,301 during May, according to a report by Knight Frank. The total value of properties transacted in May stood at Rs 3,058 crore, a 146 per cent YoY and 9.9 per cent MoM (month-on-month) rise, taking the cumulative value of all properties registered since January to Rs 15,071 crore.

Of all residential sales registered during May, homes in the price band of Rs 25 lakh - Rs 50 lakh constituted 55 per cent. Demand in the less-than-Rs 25 lakh ticket-size however weakened with its share constituting 18 per cent. The cumulative share of sales registrations for properties with ticket-size of Rs 50 lakh and above rose to 27 per cent in May 2022, compared to 26 per cent  in May 2021.

The report said that the share of sales in unit sizes over 1,000 sq ft remained at approximately 81 per cent of all home sales registrations in May. Homes in the size of 1,000 - 2,000 sq. ft. made up 73 per cent of all sales registered during the period. The trend of homebuyers looking to upgrade and move into larger living quarters, continued to hold strong in May as well.