Hyderabad: Greater Hyderabad saw 18,461 sales registration of homes in Q1 2022, real estate consultancy agency Knight Frank India said on Tuesday. This was lower by 19 per cent compared to same time last year. The total value of properties transacted in the first quarter was estimated to be Rs 86,797 Million. In March 2022, residential property registrations in Hyderabad stood at 5,707 units. This was a month – on – month (MoM) increase of 5 per cent over February 2022. ”While there was some rationalization of home sales in February 2022, when analysed on a MoM basis, we can see demand or registrations returning, especially in the higher value categories. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy,” the agency said. It said 75 per cent of residential sales registered during March 2022 occurred in the under Rs 5 mn ticket size category with sales of home in the price band of Rs 2.5 – 5 Mn (Rs 25 – 50 lakhs) constituted 55 per cent. Demand in the less than Rs 2.5 mn (Rs 25 lakh) ticket-size, however, weakened with its share constituting 20 per cent as sales registrations in this category reduced to 1,119 units in March 2022 as against 3,473 units in March 2021. The share of sales registrations of all other ticket-size segments stayed stable or have grown marginally in YoY terms in March 2022. The share of sales in unit-sizes over 1,000 sq ft maintained its share at approximately 81 per cent of all home sales registrations in March 2022. Of these, homes in the size of 1,000 – 2,000 sq. ft. Consist of 73 per cent of all sales registered during the period. The trend of homebuyers looking to upgrade and move into larger living quarters, that was sparked by the pandemic, continued to hold strong in March 2022 as well. Shishir Baijal, Chairman and Managing Director said, “For the past several years, Hyderabad had one of the strongest price momentum which in turn depicts demand strength. This was also visible through most of the lockdown, when the market registered a significantly higher number of properties. Latent demand for properties as well as other factors like security in employment, growth in house-hold incomes and savings as well as home – loan rates continue to remain attractive for end-users to continue their home purchases.” UNI AKM GNK
