Registration of properties mark 30% growth
Reveals Knight Frank report
The property market is forging ahead in Hyderabad. The number of property registrations carried out in September this year went up by at least 30%.
The total number of property registrations carried out in September was 6185, according to a report from Knight Frank.
The total value is put at Rs 3378 crore, which is 42% more compared to the value of registrations carried out during the corresponding month last year.
At least 51% of the properties registered were valued between Rs 25 and Rs 50 lakh. The number of units registered whose value is less than Rs 25 lakh each is set at 15%. Of all the properties, 9% registered more than Rs 1 crore each. Last year, during the corresponding month, 8% of the properties registered were valued at more than Rs 1 crore each.
In all, 71 percent of the properties registered have plinth areas ranging between 1000 and 2000 sft, while 16 percent of the properties registered have plinth areas between 500 and 1000 sft. In September, the registration of this category of properties constituted 14% of the total registrations.
The registration of properties whose plinth area was more than 2000 sft in September this year constituted 11% of the total properties registered, compared to only 9% during the corresponding month last year.
Geographically, Medchal-Malkajgiri district occupied the top position, contributing 45% of the total registrations, followed by Rangareddy district (41%), and Hyderabad (14%).
During August this year, residential property prices increased by 6.4%. The maximum increase was 14% in Hyderabad, Medchal-Malkajgiri (5%), and Rangareddy (3%).
People’s priorities in choosing residential properties are changing, the Knight Frank report said.
As several customers are inclined to buy 3 BHK houses, developers are giving priority to selling 3 BHK units.
