A Surge In The Real Estate Rates In The Suburbs Of Hyderabad

Shishir Baijal, Chairman and Managing Director at Knight Frank India reported, “August 2022 has recorded the surge in the suburb real estate rates by 20 per cent MOM whereas, 35 per cent decline on YoY basis”.

Rising demand in sub-urban areas

The suburbs of Hyderabad have witnessed to have a surge in real estate rates. Right from Jubilee Hills to Madhapur, the real estate has seen extended demand moved to the places like Kondapur, Gachibowli, Miyapur, Nizampet and additionally towards Gopanpally, Nallagandla, Manikonda and Narsingi

Back then, Hyderabad was unlikely to have a real estate activity. As emerging IT firms, Tech parks and commercial institutions creates interest among the people and have led to booming real estate in Suburbs.

Knight Frank has recently reported the raising demand for lands in the neighbouring districts of Hyderabad. The report included the increase in the growth of real estate transactions from the four residential market districts in Hyderabad namely Hyderabad, Medchal- Malkajgiri, Rangareddy and Sangareddy.

Estimated reports of registrations

Overall comparison of the home sale registrations states that Medchal- Malkajgiri district ranks first with 44 per cent followed by Rangareddy district with 38 per cent. Whereas, Hyderabad district records only 14 per cent of the total registrations.

Knight Frank India has noticed that Hyderabad has registrations of 5,181 units of real estate properties in August. The registration and demand are seemed to be dwindling as the commencement of the month known as Ashada Maasdam. This is not considered an auspicious time and people believe not to start any new projects.

Estimated registrations of plots in August are recorded at Rs 2,658 crore which is observed as an increase of 26 per cent MOM.

Current tread in the real estate market in Hyderabad

The increase in demand for large ticket-sized homes has now become a trendsetter ever since the pandemic. Plots in the size of 1,000 to 2,000 square feet were the majority of registrations being recorded.

It is a known fact that the economy is in inflation. Despite all the economical and external factors like underemployment, interest rates, taxation and much more it is quite surprising to see the surge in real estate rates in the suburbs of Hyderabad.

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