Registration of properties in August was phenomenal in Hyderabad. In all, 5181 property registrations worth Rs 2,658 crore were done in the month. In July, the property sale and also registration dipped as the Telugu month of Ashadam was not auspicious for buying property or registering it. However, in August the number of property deals and registrations swelled, according to a study report released by property consultants Knight Frank India.
The demand for residential properties in Hyderabad market is very high. This year, so far, 46,078 residential units worth Rs 22,680 crore sold. Of them, 55 percent of the properties were in the price range of Rs 25 lakh to Rs 50 lakh. During the corresponding period of 2021, only 37 percent of such properties were sold in August. The demand for properties worth less than Rs 25 lakh was 16 percent this year, while it was 35 percent during the corresponding period last year.
In August last year, sale of properties worth more than Rs 50 lakh constituted 28 percent of the total property transactions in the month. However, it rose to 29 percent during the August this year. Segment wise, share of properties built on a site with area measuring more than 1000 square yards was 83 percent, while the properties built on sites between 1000-2000 square yards site was 72 percent. Going by district-wise statistics, in Medchal-Malkajgiri district, 44 per cent of the total properties were registered in August this year, while it was 38 percent in Ranga Reddy district and 14 per cent in Hyderabad district.
