HYDERABAD: As many as 4,597 units of residential properties were registered in Hyderabad in October. The total value of the properties registered in the month stood at Rs 2,237 crore. Since the beginning of the year, the city has logged registration of 56,003 residential units with a total worth of Rs 27,509 crore compared to 67,685 residential units amounting to Rs 30,108 being registered in the corresponding period last year.
According to Knight Frank, the share of registrations in the unit category of properties of 500-1,000 square feet increased to 21 per cent in October 2022, compared to 17 per cent in October 2021 while properties over 1,000 square feet witnessed a dip in share from 81 per cent in October 2021 to 76 percent this October.
Residential units in the price band of Rs 25 lakh - Rs 50 lakh constituted 51 per cent of the total registrations. Demand in the less than Rs 25 lakh ticket-size however weakened with its share constituting 22 per cent compared to 35 percent a year ago.
Shishir Baijal, chairman and managing director, Knight Frank India, said, “The rise in home loan interest rate in the last three quarters along with strong headwinds caused by the global geo-political tensions has started affecting the consumers. The Hyderabad market is also impacted, though it continues to remain appealing for end users with demand for larger homes remaining promising.”