Hyderabad: The real estate sector has completely recovered from the COVID pandemic’s negative effect and there is a record increase in the residential properties sale in Hyderabad.
According to a survey conducted by a private organization, properties worth Rs. 2841 crore were transacted in Hyderabad. The real estate sector is witnessing an upswing gradually after COVID-19.
In Hyderabad, about 5408 residential property registration were made in one month while there is a decrease of 25% in the residential property sale registration compared to last year.
According to the survey, overall there is an upswing trend in the sale and purchase of residential properties in the city.
From April to June this year, 17074 properties were registered which is an increase of 9.1% compared to the figures last year.
During the second quarter of the year, a total of Rs. 8685 crores worth of properties were transacted which is an increase of 25% compared to the last year, the survey said.
As for the value of residential properties it is recorded between Rs. 25 lakh to Rs 50 lakh which is a 53% increase compared to the last year.
In June 82% of homes were registered with an area more than 1000 square feet while the percentage of homes registered for more than 2000 square feets is 71%.
Ranga Reddy district recorded the maximum number of home registration at 45% followed by Medchal and Malkajgiri districts with 39%.
In Hyderabad, 13% increase has been recorded in property registration in the month of June. The rate of home loans in the city has also increased but in spite of that it has not dampened the spirit of purchasers, the survey said.