The third wave, though a relatively mild one, has hit the real-estate industry very hard in Hyderabad. During January, the city has reported a drop of 27 per cent year-on-year in home registrations.

In the first month of 2022, the city witnessed registrations of 5,568 homes, with bulk of them coming from the sub ₹50-lakh segment.

According to a Knight Frank India report, regular market operations such as site visits and registration of documents were adversely affected due to mobility restrictions during the month. The aggregate value of realestate properties transacted was pegged at ₹2,695 crore in the four districts of Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

“Hyderabad was the best performing residential market in terms of primary sales, among the top eight in India during 2021. However, the drop in registration activity caused by the mobility restrictions due to the third wave of Covid-19 in January this year have impacted sales across many markets in India, including Hyderabad,” Shishir Baijal, Chairman and Managing Director, Knight Frank India, said.

“We expect that sales registration volumes in the market should regain lost ground once normal market operations resume, given that other market indicators such as prices continue to see steady growth despite the impact of the pandemic,” he said.

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