- Is Ashadam month the reason in July?
Property sales in Hyderabad decreased slightly in July. Last month, only 4,313 units were registered which is 20 percent less than the previous month i.e. June 2022. The decrease was especialy witnessed in the transactions of assets valued at Rs 50 lakh and above. As a result, sales fell by 20 percent. Factors such as rising interest rates and Ashadham month sentiment are the main reasons for this decline. The value of property transactions last month was Rs 2,101 crore, which is 26 percent less than the previous month, according to the latest real estate report by Knight Frank India. Since the beginning of this year, 40,897 residential units worth Rs 20,023 crore have been sold in Hyderabad.
Majority of these transactions took place in Medchal-Malkajgiri, Rangareddy and Sangareddy districts along with Hyderabad. Of this, 56 percent properties are priced between Rs 25 lakh and Rs 50 lakh. It was only 34 percent in July last year. However, the demand for houses priced below Rs 25 lakh has decreased which was 35 percent in July last year, but fell to 18 percent in July this year. Sales of houses with a size of 1,000-2,000 square feet have been brisk. This is evident from the fact that their share is 72 percent. District-wise, Medchal-Malkajgiri district accounted for 41 percent of total house sales, Ranga Reddy district for 38 percent, and Hyderabad for 16 percent. House prices have increased by an average of 9 percent over the year.
