Medchal-Malkajgiri district recorded 46% home sale registration, followed by Rangareddy district at 36%.
Medchal-Malkajgiri district recorded 46% home sale registration, followed by Rangareddy district at 36%.
According to the latest report by real estate research firm Knight Frank India, Hyderabad’s adjoining districts Medchal Malkajgiri and Sangareddy continue to be the preferred destinations for new home buyers, with the former witnessing higher number of registrations, and more high-value homes. Sold in October. Thursday.
Medchal-Malkajgiri district recorded 46% domestic sales registration, followed by Rangareddy district at 36% while Hyderabad district recorded 14%. The weighted average prices of transacted residential properties have increased by 12% year-on-year as per registration data, with Sangareddy district witnessing the highest increase of 37%, indicating that this location during the period But more high-value homes were sold.
Price growth in Hyderabad market has been strong in recent times and high value properties are being sold. Hyderabad recorded the registration of 4,597 units of residential properties with a total value of ₹2,237 crore.
Since the beginning of the year, the city has seen registration of 56,003 housing units with a total value of Rs 27,509 crore as compared to the registration of 67,685 housing units at Rs 30,108 crore in the same period last year. The residential market comprises four districts of Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Residential units in the price band of ₹25 lakh – ₹50 lakh accounted for 51% of the total registrations, which meant an increase of 40%. The demand, however, weakened in ticket sizes below Rs 25 lakh, with its share being 22% compared to 35% a year ago. Higher demand for large ticket size homes remained evident as the cumulative share of sales registrations for properties with ticket sizes above ₹50 lakh increased from 25% in October 2021 to 27%.
The share of registration in the entity category of properties of size 500 – 1,000 sq ft increased to 21% from 17%, while the share of properties of 1,000 sq ft or more saw a decline from 81% to 76%.
“The rise in home loan interest rates along with strong constraints due to global geopolitical tensions have started impacting consumers, but the demand for larger homes remains promising. We expect the uptrend in high value homes to continue in the coming months,” said Shishir Baijal, Chairman and Managing Director, Knight Frank.
Senior Branch Director Samson Arthur said, “The Hyderabad residential sector strengthened in 2021 on the back of a pro-socioeconomic environment, advanced infrastructure and a business-friendly governance, which continued this year despite a definite slowdown in sales.”