Hyderabad property sales touch Rs 253 billion in 2021
HYDERABAD: Bouncing back strongly from the pandemic blues of 2020, the realty sector is now up and going with residential property registrations in Hyderabad doubling in 2021. The property registrations which stood at 22,570 in 2020, shot up to 44,278 in 2021. The total value of properties registered was Rs 253 billion. About 60 per cent of property registrations during last December were under Rs 50 lakh ticket size.
According to Knight Frank, monthly residential property registrations in Hyderabad — including Hyderabad, Rangareddy and Sangareddy districts, stood at 3,931 units in December 2021, registering a marginal decline of 0.5 per cent YoY in December 2020. The total value of properties registered was Rs 23.4 billion, recording a growth of 16 per cent YoY over the same reference period.
The share of sales in the 1,000 sq ft to 2,000 sq ft 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 worst of the pandemic in 2020 and have grown steadily in 2021. The weighted average transacted price of residential properties, as reflected by the registration data, jumped 15.9 per cent YoY in December 2021 and depicted the underlying momentum of the market.
Inspection by Knight Frank revealed that the share of sales of the Rs 2.5 to Rs 5 million ticket size improved to 36 per cent last December, while in the category of Rs 2.5 million and below category declined to 24 per cent. 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 YoY terms during December 2021 in the three districts, sales in Hyderabad district have grown by 11 per cent during the same period. Even in terms of share of total sales, the district accounted for 30 per cent of the residential units, registered during 2021, compared to 27 per cent 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.