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Hyderabad Property Sales Cross ₹25,000 Crore Mark in 2021

Posted by luckypropertywala_sxyoj4 on February 8, 2022

Hyderabad’s real-estate market has already proven to be one of the strongest real-estate markets of India thanks to its remarkable resilience & recovery after both waves of the Covid-19 pandemic. Residential property registrations in Hyderabad increased twofold in 2021 compared to 2020. In 2021, property registrations stood at more than 44,000 while in 2020, only around 22,500 properties were registered. The total value of the properties registered in 2021 crossed the ₹25,000 crore mark. According to data, nearly 60% of the property registrations in the last month of 2021 were less than ₹50 lakhs in value.

According to Knight Frank, residential property registrations in Hyderabad, Sangareddy & Rangareddy districts were around 4,000 units for the month of December 2021 which is 0.5% lower than the number of registrations completed in the month of December 2020. The total value of property registered in December 2021 was around ₹230 crores which is an increase of 16.4% compared to December 2020. This can be attributed to increase in property value over time and increased property registration charges by the govt. since July 2021.

The percentage of sales of residential units between 1,000 sq. ft. to 2,000 sq. ft. size range reduced to 66% in Dec. 2021 compared to 70% during Dec. 2020. The percentage of sales shares for other unit sizes has more or less remained marginally the same with only the 1,000-2,000 sq. ft. unit range dropping by about 4%. Inspection by Knight Frank revealed that the share of sales of the ₹25 lakhs to  ₹50 lakhs ticket size improved to 36% last December, while in the category of ₹25 lakhs and below category declined to 24%. This signifies that the stress is still being felt in the lower ticket sizes due to the threat of income disruption caused by the economic impact of the pandemic.

While total sales have been stable in Y-o-Y terms during December 2021 in the three districts, sales in Hyderabad district have grown by 11% during the same period. Even in terms of share of total sales, the district accounted for 30% of the residential units, registered during 2021, compared to 27% from a year ago.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, said that Hyderabad was one of the most resilient markets which has performed well even during the pandemic. “Hyderabad residential market was among the top eight in India during 2021, in terms of the primary sales. The fervour among resident homebuyers to increase their living spaces and upgrade their lifestyles should continue to drive the market in the near to medium term,” he added.

It remains to be seen how the real-estate market of Hyderabad performs in 2021, the state govt. has increased the market value of land across the state which has led to increased property registration charges due to previous year’s stamp duty increase from 6% to 7.5%. This can also have an impact as buyers & builders will be forced to pay more than they were planning to shell out and might choose to postpone their plans to construct/purchase property.

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