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Hyderabad property registration falls by 19% YoY in Q1 2022
14 Apr 2022 CW Team
According to Knight Frank India, property registration in Greater Hyderabad witnessed 18,461 housing sales registration in the first quarter (Q1) 2022, lower by 19% compared to the same period last year.
The total value of property transactions is estimated to be Rs 8,679.7 crore, up by 5% over February 2022. The Hyderabad residential market includes Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. Arpu 75% of residential sales registered in March 2022 occurred in the under Rs 50 lakh ticket size category, with housing sales in the price band of Rs 25-50 lakhs, contributing 55%. Demand under Rs 25 lakhs ticket size is less, with its share constituting 20% as sales registrations in this category reduced to 1,119 units in March 2022, compared to 3,473 units last year in March. Chairman and Managing Director of Apru, Shishir Baijal, told the media that in the past several years Hyderabad had strong price momentum in real estate. The latent demand for properties and other factors such as security in employment, growth in household incomes and savings, and housing loan rates remain attractive for end-users for home buying. The increase in market shares of the mid and high ticket-size segments is also reflected in the shares of sales in various unit size ranges. The shares of sales in unit sizes over 1,000 sq ft maintained its share at around 81% of all registrations in March 2022. Houses of 1,000-2,000 sq ft consist of 73% of all sales registered in March. The average transacted price of residential properties increased by 10% year-on-year (YoY) in March 2022. The Sangareddy area witnessed the highest movement of 30% YoY in March 2022, with more higher-value products being sold in this location. Price growth in the Hyderabad real estate market has been strong presently. With higher value property being sold in March 2022, the average price has shown growth in all micro-markets of Hyderabad. Image SourceAlso read: Residential sales attain 4-year high across top 8 cities in Jan-Mar
