HYDERABAD: Hyderabad continues to be among the most attractive home-buyer markets with residential sales registrations growing 16 per cent YoY for the 11-month period ending in November, 2021.
According to a report by Knight Frank India, about 21,988 apartments have been registered between January to November in Hyderabad, Rangareddy and Sangareddy districts. Residential properties amounting to Rs 11,164 crore were transacted in January-November.
Despite it being a traditionally slow period for sales, the September-November period in 2021 has recorded above average growth in YoY terms for all months in this period.
This along with increasing number of enquiries at project sites shows the growing home-buyer interest in the Hyderabad market.
66 per cent of apts in Rs 50 lakh range
Nearly 66 per cent of apartments registered during January-November are under the price of Rs 50 lakh. The average transaction price in Hyderabad, Rangareddy and Sangareddy has increased 6 per cent YoY in November. Hyderabad district has outperformed others with 58 per cent growth in sales between January- November.
Despite it being a traditionally slow period for sales, the September-November period in 2021 has recorded average growth in YoY terms for all months in this period. The residential sales deeds registered in last October and November were 918 and 516, but this time, they increased to 1,119 and 1,344 respectively.
As per the report, prices remained resilient in Hyderabad during the worst of the pandemic in 2020 and have grown steadily in 2021.
Sales in Hyderabad up by 58 per cent
While total sales have grown by 16 per cent in YoY terms during January-November 2021 for the three districts, sales in Hyderabad district have grown by 58 per cent YoY during the same period.
Shishir Baijal, chairman and MD, Knight Frank India said residential prices are growing despite the absence of any regulatory interventions such as the stamp duty cuts applied by the Maharashtra and Karnataka governments.