Knight Frank India, a property consulting company, has said that the aggregate value of all properties (24,797 units) registered in Hyderabad from January to April 2022 stood at ₹11,998 crores.
Hyderabad’s residential market consists of four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
“While the price hike caused by rising construction costs has affected the most price-sensitive category, the higher-end segments have seen the limited impact, keeping the market buoyant and vibrant,” said Shishir Baijal, President and CEO of Knight Frank, in a statement on Tuesday.
“Factors such as job security, growth in household income and savings, as well as comfortable mortgage interest rates, continue to drive end-users to purchase a home,” he said.
The number of records decreases
Hyderabad has recorded the sale of 5,331 properties in April 2022, which is a decrease of around 10% from the same month of the previous year.
However, the total value of properties transacted in April 2022 stood at ₹2,767 crores, an increase of 10 percent from last year.
Of all residential sales in April, houses in the ₹25-50 lakh price band made up about 53 percent. Demand for properties below the ₹25 lakh mark has weakened to a 17 percent share.