As an example of how fast the pearl city Hyderabad is growing, the city was recently awarded as the home for the second-highest richest people in the country. Hyderabad was awarded next to Mumbai and the city had surpassed other cities to make it to second place in the list.
Despite this, the house sales in the city are not that encouraging as a few areas saw a downfall in the sales. While the sales are low in many regions, the sales have come down massively in a few areas which is concerning. A real estate firm had said the same in its recent report.
According to the report, the home sales had come down by 25 percent in February in four big districts â Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. The firm even gave a reason for this.
As hiking the registration cost for the properties is the main reason behind the impact on the sales, the firm also said that out of all the categories, the under 25 lakh category saw the severe impact with just 844 sales recorded in the month.
The amount of sales is quite less compared to the previous year as many as 2,888 sales were recorded in February last year. On the other hand, the category of below Rs 50 lakh was not affected and the category saw more sales than the previous year.
The next category of Rs 50-75 lakh was also not affected by this as the segment made good numbers compared to the previous year.
Despite this, the house sales in the city are not that encouraging as a few areas saw a downfall in the sales. While the sales are low in many regions, the sales have come down massively in a few areas which is concerning. A real estate firm had said the same in its recent report.
According to the report, the home sales had come down by 25 percent in February in four big districts â Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. The firm even gave a reason for this.
As hiking the registration cost for the properties is the main reason behind the impact on the sales, the firm also said that out of all the categories, the under 25 lakh category saw the severe impact with just 844 sales recorded in the month.
The amount of sales is quite less compared to the previous year as many as 2,888 sales were recorded in February last year. On the other hand, the category of below Rs 50 lakh was not affected and the category saw more sales than the previous year.
The next category of Rs 50-75 lakh was also not affected by this as the segment made good numbers compared to the previous year.