HYDERABAD: Hyderabad has recorded a 2.4 per cent growth in property registrations with 6,311 units of residential properties changing hands in December 2022 compared to the previous month.
"The total value of the properties registered in December 2022 stood at Rs 3,176 crore. Since the beginning of the year, the city has recorded registrations of 68,519 residential units with a total worth of Rs 33,605 crores compared to registrations of 83,959 residential units amounting to Rs 37,232 observed in similar period last year," Knight Frank India noted.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Residential units in the price band of Rs 25 lakh to Rs 50 lakh constituted 54 per cent of the total registrations in December 2022, which is an increase from a share of 36 per cent in December 2021, the property consultant firm said.
Demand for the property costing less than Rs 25 lakh, however, weakened with its share constituting a mere 17 per cent compared to 40 per cent a year ago.
Greater demand for larger ticket size homes remained evident as the cumulative share of sales registrations for properties with ticket-sizes of more than Rs 50 lakhs increased to 29 per cent in December 2022 from 24 per cent in December 2021.
In December 2022, the share of registrations in unit category of properties sized 500-1,000 square feet increased to 20 per cent compared to 18 per cent observed in December 2021 while properties sized 1,000 square feet or higher witnessed a dip in share from 73 per cent in December 2021 to 70 per cent in December 2022.
