Property registration slumps in Hyderabad

The number of registrations of residential property nosedived in Hyderabad in September this year. In September, a total of 4307 registrations of residential properties worth Rs 2198crore took place in the city, according to reputed real estate agency Knight Frank India. Cumulatively, 50,953 registrations worth Rs 25,094 crore took place this year so far in the city as against 62,052 registrations worth Rs 27,640 crore that took place during the corresponding period last year.

The residential units priced between Rs 25-50 lakh occupy 55% of the total registrations that took place in September, while the share of these properties last September was only 39 per cent. The sale of properties below Rs 25 lakh was 39% in last September as against16 % in September this year. The share of housing units that cost Rs 50 lakh each was 25% out of the total sales in September last year as against 28% September. In fact, units with plinth area exceeding 1000 sft constitute 81% of the total sales. It is attributed to many investors wants to acquire bigger houses in the post-Covid-19 scenario.