Leading real estate consultancy Knight Frank India noted that the sale of 5,331 properties were registered in Hyderabad in April 2022, taking the total registrations of residential properties to 24,797 units since the beginning of this year.
The total value of properties transacted in April 2022 stood at Rs 2,767 crore (10% rise YoY) taking the cumulative values of all properties registered since January 2022 to Rs 11,998 Cr. However, in terms of a total number of property registrations, April 2022 recorded a decline of approximately 10% YoY. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Of all residential sales registered during April 2022, homes in the price band of Rs 2.5 to 5 Mn (Rs 25 to Rs 50 lakh) constituted 53%. Demand for the less than INR 2.5 Mn (INR 25 Lakhs) ticket size however weakened with its share constituting 17%.
The share of sales registrations of all other ticket-size segments observed a marginal growth in YoY terms in April 2022. The share of sales in unit sizes over 1,000 sq ft maintained its share at approximately 83% of all home sales registrations in April 2022.
Homes in the size of 1,000 – 2,000 sq. ft. were 72% of all sales registered during the period. The trend of homebuyers looking to upgrade and move into larger living quarters, which was sparked by the pandemic, continued to hold strong in April 2022 as well.
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A district-level study shows that home sales registrations in the Medchal-Malkajgiri district was recorded at 44% in April 2022 followed by the Rangareddy district at 40%. The share of Hyderabad district in total registrations remained stable at 15% in April 2022. The weighted average prices of transacted residential properties, as per the registration data, has grown by 20% YoY in April 2022. The area of Sangareddy saw the steepest rise of 36% YoY (albeit on a low base) in April 2022 indicating more higher-value homes were sold in this location in April 2022. Price growth in the Hyderabad market has been strong in recent times. With higher value property being sold in April 2022; the weighted average price has shown an uptrend in all micro–markets of Hyderabad.
Shishir Baijal, Chairman & Managing Director 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, however, the higher segments have had limited impact keeping the market buoyant and vibrant. Factors like the security of employment, growth in house-hold incomes and savings as well as conformable home – loan rates continue to drive end-users to home purchase.
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