“The real estate sector in the state and Hyderabad, in particular, is on the threshold of exponential growth. Hopes the Government will rapidly implement plans for single-window approval for real estate projects to facilitate this growth.” Words from the CREDAI team.
The Hyderabad real estate market registered a 30 percent increase in the residential sector. In the past few years, unsold residential inventory in Hyderabad has declined at an overwhelming rate. Property sales have increased significantly by 16 percent over the previous year.
While the Outer Ring Road has provided multi-dimensional connectivity to various locations in the city, the Gachibowli financial district and hi-tech corridor have become a major commercial hub, with IT companies expanding their base. Hyderabad emerging as a leading investment destination in the South.
Of all the popular metro cities in India, Hyderabad is the most reasonably and affordably priced. Real estate in Hyderabad is mature both commercially and in the residential market.
The slowdown in the real estate market that goes all the way back to 2014, doesn’t show signs of a turnaround yet. In such a slow market, however, Hyderabad has continued to show steady growth and surprised many an analyst. Overall home sales in India’s nine key property markets fell 11 percent in the quarter ending June 2019 on a y-o-y basis, Hyderabad defied the trend by clocking a 10 percent increase in sales
To ease traffic conditions within and around the city and to curb pollution, the government has allocated Rs 5,500 crores for building a 363-km regional ring road (RRR) in Hyderabad. Work on the project that would strengthen the highways connectivity here is likely to start after the central government approves the plan.
Only last year, the government set aside Rs 45,000 crores to make small, but significant changes in the city’s infrastructure. The money will be used over three years for building skywalks, flyovers, underground cabling, stormwater drains and development of green spaces across Hyderabad.
Home to numerous tech start-ups and global firms, Hyderabad is billed as the next IT hub of India. Hyderabad is a preferred destination for both students and salaried professionals. Every year, thousands of youngsters migrate to this city for better career prospects. Sample this, one-third of Amazon’s total India employee base works from Telangana, of which the majority resides in Hyderabad. This explains the growing appetite for rental housing and therefore more investment opportunities for property builders and homeowners alike. Besides corporate executives, college and university students are seeking rented accommodation facilities. In addition, the emergence of co-living space providers has further bolstered the state of the residential real estate in Hyderabad.