Houses under ₹25-lakh lose share while higher segments keep market buoyant
Knight Frank India, a real estate consultancy company, has said that the aggregate value of all properties (24,797 units) registered in Hyderabad from January to April of 2022 stood at ₹11,998 crore.
The Hyderabad residential market consists of four districts — Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
“While the rise in prices led by increased construction cost has impacted the more price-sensitive category, higher segments have seen limited impact, keeping the market buoyant and vibrant,” Shishir Baijal, Chairman and Managing Director of Knight Frank, said in a statement on Tuesday.
“Factors like security of employment, growth in household incomes and savings, as well as comfortable home loan rates continue to drive end-users to home purchase,” he said.
Registration numbers decline
Hyderabad has reported sale registrations of 5,331 properties in April 2022, a decline of about 10 per cent over the same month last year.
The total value of properties transacted in April 2022, however, stood at ₹2,767 crore, an increase of 10 per cent from last year.
Of all residential sales in April, houses in the price band of ₹25–50 lakh constituted about 53 per cent. The demand for properties under the ₹25-lakh mark has weakened to a share of 17 per cent.