TMR: Hyderabad residential property registrations witness a monumental high

Hyderabad, the city of the Nizams and the pearls, has witnessed tremendous growth in terms of real estate expansion in recent years. As a thriving IT hub today, the city has expanded its horizons to accommodate the dreams of several people who now call it home. No doubt, this has translated to a surge in real estate demand, both for residential and commercial places.

While the real estate sector in many other cities continues to pick up momentum in the aftermath of the pandemic, Hyderabad has witnessed a monumental high in terms of its residential property registrations. The industry recorded a 30% YoY rise in property registrations in September 2023, compared to the September 2022 season, according to market researchers and industry experts.

Figures state that the total value of properties registered during the month stood at a whopping Rs. 3,378 crore. This figure too has increased by 42% YoY, thus highlighting the trend of the sale of more expensive homes.

The Hyderabad residential market is made up of four districts – Hyderabad, Rangareddy Medchal-Malkajgiri, and Sangareddy.

According to the report, the highest proportion of property registrations in Hyderabad in September 2023 was in the price range of Rs. 25 – 50 lakh. It accounted for about 51% of the total registrations. At the same time, properties priced below Rs. 25 lakhs constituted for about 15% of the total registrations, whilst the share of sales registrations for properties priced Rs. 1 crore and above was 9%.

Majority of these properties registered belong to the range of 1,000-2,000 sq ft, as this category of home size accounted for about 71% of registrations. The registrations for smaller homes (500-1,000 sq. ft.) however fell to 14% during September 2023, from 16% in September 2022. On the other hand, properties larger than 2,000 sq. ft., witnessed an increase in demand, as registrations rose to 11% during September 2023, from 9% in September 2022.

District wise, Medchal-Malkajgiri secured the top position with 45% home sales registrations, while Rangareddy district followed closely with 41% sales registrations. Interestingly, Hyderabad district accounted for just 14% of the total registrations in September 2023. The report also highlights that a large concentration of bulk transactions were for plush properties, which were bigger in size and offered better facilities and amenities.

Following the development activity in the city, developers in Hyderabad have prioritized the launch of larger units and independent homes, to give the market a further boost.

At TMR Group, we offer gated community open plots to build the homes of your dreams. Our vaastu compliant plots with amenities and profitable returns assure you of a flourishing future. TMR Green Meadows at Chegunta, in Medchal, and TMR Swiss County at Maheshwaram in Rangareddy offer prospects for a thriving future. To know more about these projects, visit  https://tmrinfra.com/

Hyderabad welcomes the New Year on a cheerful note!

2022 has been a phenomenal year for residential real estate. Industry research attests that despite the headwinds of rising property prices, interest rate hikes, and geopolitical tensions, housing sales in the top seven cities of India crossed their previous highs of 2014.

Market research studies state that approximately 3 64,900 residential units were sold in the top seven cities in 2022. This is against the 2, 36,500 units sold in 2021. With these figures, the sector recorded a 54% year-on-year increase. Interestingly, the last time such peak figures were recorded was in 2014, when 3.43 lakh units were sold.

Mumbai Metropolitan Region witnessed the highest sales of about 1, 09,700 units in the seven cities studied in 2022. The financial capital was followed by NCR, with approximately 63,700 units. Hyderabad, on the other hand, saw the sale of 47,487 residential units.

In terms of new launches, the top cities saw a 51% annual rise. The numbers rose from 2, 36,700 units in 2021 to nearly 3, 57,600 new units in 2022. Hyderabad saw the second-highest launch figures, with 68,000 units launched in 2022 compared to 51,500 units in 2021. The city of pearls was only second to Mumbai Metropolitan Region, which recorded 1, 24,650 new launches in 2022. Both the cities together accounted for 54% share of all the residential launches in the year.

Market experts anticipate the current sales momentum in the housing sector to continue in the first quarter of 2023. Experts mention that the appetite for homeownership has remained undeterred, and maximum sales are being driven by the end users. However, a lot of stakes will also depend on how the home loan interest rates pan out over the next year.

Industry experts also believe that ready-to-move-in units will continue to top the buyer demand. The demand for new launches will also gain momentum in the year ahead. The large and listed developers will continue to dominate the market. Buyers have a certain level of faith and confidence when it comes to top builders and developers; hence, they will continue to perform well and see significant sales in 2023.

Despite the affordability level of buying housing properties witnessing a decline last year across seven major cities due to the rise in mortgage and property rates, Hyderabad remains one of the most affordable residential markets. A stable employment market in the city, longer loan tenures, and supportive government policies have been instrumental.

2022 was a phenomenal year for the real estate sector in Hyderabad and other cities of the country, particularly for the residential segment. There was robust housing demand, mainly from end-users, in not just the top cities but also across tier 2 and tier 3 cities.

Affordable housing, ever-growing job opportunities, infrastructural advancement, superior standards of living, and excellent connectivity, make Hyderabad the hub of development. Secure a future here for you and your family with TMR Group. Invest in plots in the hotspots around Hyderabad that allow you to uncap a future full of growth and profitable returns. Visit https://tmrinfra.com/ today to know more!