The metropolis witnessed a 152 per cent year-on-year progress in property registration at 6,301 throughout May and 17.6 per cent month-on-month surge, indicating a powerful demand development regardless of exterior components akin to financial downtrend and inflation, main actual property consultancy Knight Frank India mentioned on Thursday.
The whole worth of properties transacted in May 2022 stood at Rs 3,058 crore, a 146 per cent YoY and 9.9 per cent MoM rise, taking the cumulative worth of all properties registered since January 2022 to Rs 15,071 crore, it mentioned.
The Hyderabad residential market contains 4 districts-Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
“In recent years, Hyderabad has had one of the strongest demand trends, despite external factors such as economic downturn and inflation. While the rising building costs have had an impact on the more price sensitive categories, the upper segments have had little influence, keeping the market strong. End-users continue to be drawn to home purchases by factors such as job security, rising household incomes and savings, and conformable home-loan rates,” Shishir Baijal, Chairman and Managing Director, Knight Frank India mentioned.
Of all residential gross sales registered throughout May, residence in the worth band of Rs 25 lakh to Rs 50 lakh constituted 55 per cent whereas the demand in the lower than Rs 25 lakh ticket-size nevertheless, weakened with its share constituting 18 per cent, the report mentioned.
The cumulative share of gross sales registrations for properties with ticket-size Rs 50 lakh and above elevated to 27 per cent in the month in comparison with 26 per cent throughout the identical month final yr.
Property registrations in Hyderabad rose by 152% in May, says report - UR ALL NEWS
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