The real estate market in Hyderabad has continued its upward trend over the last 6 months. With support from the State Government and infrastructural development, Hyderabad’s real estate market continues flourishing. Of late, figures released for the income garnered by the Registrations and Stamps Department between April and September 2018 also testify to this latest development. The department earned a whopping Rs. 3, 158 in this period this year as compared to Rs. 2, 000 in the same period last year.
There were 7.5 lakh enrolments in this period as compared to 5.21 lakh enrolments in the same period last year. There was more income seen from e-stamps of Rs. 1, 654 crore as compared to Rs. 1, 097 crore in the year-ago period. This goes to show the burgeoning demand for real estate in Hyderabad and the high number of property transactions taking place here. Areas under the Medchal-Malkajgiri and Rangareddy regions contributed a whopping 56% of the income garnered by the department.
Big-ticket land deals are attributed as the major reason behind the growth in property transactions in these regions. The Hyderabad (South) and Centre districts accounted for close to 14% of the total income of the department. Rs. 5, 121 crore came from the Rangareddy region between June and September 2018 as per reports with 83, 395 enrolments. Parts of the old city also saw land deals taking place. In Hyderabad South and central districts, the income for the department stood at Rs. 1, 415 crore and Rs. 739 crore respectively.