Hyderabad, Dec 8 (FN Bureau) Hyderabad, the state capital of Telangana, recorded registrations of 6,119 units of residential properties, worth INR 2,892 crore in November 2022, up by 32 per cent Month-on- Month (MoM), despite a 21 per cent decline on yearly basis, according to a latest assessment report released by Knight Frank India on Thursday. Since the beginning of the year , the city has observed registration of 62,159 residential units with a total worth of INR 30,415 Crore compared to registrations of 75,453 residential units amounting to INR 33,531 Crore observed in corresponding period in last year, the report stated. The Hyderabad residential market includes four districts — Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Residential units in the price band of INR 2.5 – 5 Mn (INR 25 – 50 lakhs) constituted 50 percent of the total registrations in November 2022, which is an increase from a share of 37 per cent in November last year. Demand in the less than INR 2.5 mn (INR 25 Lakhs) ticket-size however weakened with its share constituting 22 per cent compared to 39 percent 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 INR 5 Mn and above ( > INR 50 lakhs) increased to 28 percent in November 2022 from 24 per cent in November 2021. In November this year, the share of registrations in the unit category of properties sized 500–1000 square feet increased to 22 per cent compared to 15 percent observed in November 2021 while properties sized 1,000 square feet or higher witnessed a dip in share from 74 per cent in November 2021 to 65 per cent in November 2022.
Of the four districts in Hyderabad, home sales registrations in the Medchal-Malkajgiri district was recorded at 41 per cent followed by Rangareddy district at 39 per cent while the share of Hyderabad district in total registrations was recorded at 14 percent in November 2022. Shishir Baijal, Chairman and Managing Director, Knight Frank India said, the city’s residential market saw some relief in November as Hyderabad market witnessed an uptick in registrations despite major headwinds from geopolitical developments and a spike in home mortgage rates over the last few quarters. The more sensitive lower ticket sector is affected, however, the demand for higher value homes continue to remain strong, thus maintaining the city’s optimistic outlook. Samson Arthur, Senior Branch Director, Knight Frank India said, “Hyderabad’s residential registrations grew in November 2022 despite the impact of rising interest rates and concerns about inflation as the city continues to witness demand supported by its booming socioeconomic environment, cutting-edge infrastructure, and business-friendly policies”.