Hyderabad property registrations dipped marginally in 2021: Knight Frank
Prices remained resilient in Hyderabad during the pandemic in 2020 and grew steadily in 2021
Hyderabad: The residential property registrations in Hyderabad declined marginally at 3,931 units in December 2021, registering a 0.5 per cent dip over the same month previous year, says a report by real estate consultancy Knight Frank India.
The total value of properties registered was Rs 2,340 crore in December, recording a growth of 16 per cent over the same month a year ago. Total number of properties registered in 2021 grew 96 per cent at 44,278 as against 2020.
An estimated 60 per cent of residential sales registered in December 2021 were under Rs 50 lakh. The share of sales of the Rs 25-50 lakh ticket size improved from 35 per cent in December 2020 to 36 per cent in December 2021. The category of below Rs 25 lakh declined to 24 per cent in December 2021 compared to 30 per cent previously. The reduction in the lower ticket sizes due to the threat of income disruption caused by the economic impact of the pandemic.
The share of sales in the 1,000 - 2,000 sft unit size range decreased from 70 per cent in December 2020 to 66 per cent in December 2021. Shares in all other unit size categories have remained stable or increased in December 2021. Prices remained resilient in Hyderabad during the pandemic in 2020 and have grown steadily in 2021. The weighted average transacted price of residential properties has jumped 15.9 per cent YoY in December 2021.
While total sales have been stable in YoY in December 2021 for the three districts (Hyderabad, Rangareddy and Sangareddy), sales in Hyderabad district have grown by 11 per cent. Even in terms of share of total sales, the district accounted for 30 per cent of the residential units registered in 2021, compared to 27 per cent in 2020.
Shishir Baijal, Chairman and Managing Director, Knight Frank India said: "Hyderabad residential market was among the top eight in India during 2021. The passion among homebuyers to increase their living spaces and upgrade their lifestyles should continue to drive the market in the near to medium term. Given that stellar residential sales performance in 2021 despite no regulatory interventions, the underlying market fundamentals continue to inspire confidence and break through the pandemic induced disruptions. We expect similar sales this year also."