Property Sale and Lease Trends in Bengaluru, Tamil Nadu, and Telangana (April - May, 2022)

Analytics Jun 28, 2022

Property sale and lease transactions in South India (which is taken to be Bengaluru, Chennai, Coimbatore, Hyderabad, and Warangal districts) noticed a general decline in May 2022, compared to the numbers in April.

For sales registrations in the regions observed, Bengaluru was an exception, where an increase in sales volume was observed. This increase may be attributed to the Government of Karnataka’s decision of extending the duration of reduced property guidance values by 3 months. [1]

Bengaluru Has Seen an Increase in Sales Transactions MoM

The government of Tamil Nadu’s decision to hike property tax in April [2] across the board may be attributed for the steep decline observed in sales registrations for Chennai and Coimbatore in May, compared to what was observed in April.

Property lease registrations have seen a decline in all geographies except for in Hyderabad, where a marginal increase of 6% is observed.

Lease Activity Has Seen a General Decline MoM

The segment wise distribution for sales has not seen a change for any of the regions observed, with a predominant share taken by Affordable (ticket size < 45 lakhs) properties.

Affordable Segment Drives Sales Volume

Taking a closer look at the geographical distributions for transactions, it is seen that the localities with the most number of sales transactions in Bengaluru, such as Begur and Kodathi, lie in the outskirts of the city.

This trend was also observed in Warangal, with the top localities, such as Hanamkonda and Bhimaram, were found to be concentrated to the north western outskirts of the city. Chennai was an exception to this trend, however, with a more varied distribution of sales transactions geographically.

For the top localities with the most number of lease transactions, it was observed that Chennai observed a high concentration of lease activity in its southern part, with a high volume of lease registrations noted in Okkiyam Thuraipakkam, and Velachery.

To get a more in depth understanding of the sale and lease markets in these geographies broken down to locality, price segment, and daily transaction volume, access TEAL Analytics’ full report.

At TEAL, we are building the next generation of property due diligence using big data analytics and machine learning. We provide reliable information about property ownership, registration status, disputes, tax compliance history and all other information that you will need to make a safe and secure property investment. To learn how TEAL can help you in your journey, get in touch with us.

[1] https://tealindia.in/insights/karnataka-slashes-property-guidance-value-by-10-for-an-additional-three-months/

[2] https://tealindia.in/insights/property-tax-hike-in-tamil-nadu/


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