After the Covid pandemic, the rise in the real estate industry in Hyderabad is gaining pace, with most people showing interest in purchasing property, especially residential units. It is said that the registration numbers have already reached the mark of 50,000 properties in Hyderabad.
The Chairman and Managing Director of Knight Frank India, Shishir Baijal, said that the real estate Hyderabad market had seen a drop in 2022 in the number of registrations compared to how resilient it was during the pandemic. He added that the drop is only for a short period due to increasing home loan rates. However, it is predicted that the market’s latent demand will stabilise economic growth and higher income levels in Hyderabad.
As per the latest report by Knight Frank India, the market of real estate in Hyderabad is evolving and growing along with all four other districts. Such as, Medchal-Malkajgiri, Rangareddy and Sangareddy. There was a registration of 50,953 units under residential properties worth Rs 25,094 crore.
However, as per the latest turnout of the events, Knight Frank India reported that four thousand and three hundred seven units would be registered by the end of September 2022 with a worth of Rs. 2,198 crores.
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The bandwidth for most properties is between Rs 25 lakhs to Rs 50 lakhs. This price range constituted 55% of the entire sales which took place in September. Moreover, it is 39% more as compared to September 2021. There is a 16% contribution for a price bandwidth below Rs 25 lakhs in 2022; last year, it was 36% in September 2021.
Not only is the demand for buying a house in Hyderabadis increasing, but the drive to own a larger house remains apparent. Due to this, the bandwidth of purchasing residential property with or more than Rs 50 lakhs increased by 28% compared to last year in September.
Knight Frank India noted that in September 2022, the residential units with an sq. ft. area of 1000 contributed 81% of total registrations. Whereas houses with an area between 1000 sq. ft. to 2000 sq. ft. contributed 71% of sales.
Therefore, we can conclude that the price growth in the real estate Hyderabad market is quite strong. And the average price displays a trend in all the micro-markets of Hyderabad.
