Hyderabad sees 152% rise in property registrations

Hyderabad: The city witnessed a 152 per cent year-on-year growth in property registrations at 6,301 during May and 17.6 per cent month-on-month surge, indicating a strong demand trend despite external factors such as economic downtrend and inflation, as per a report by real estate consultancy Knight Frank India.

The total value 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 value of all properties registered since January 2022 to Rs 15,071 crore, it said.

The Hyderabad residential market includes four 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 said.