Hyderabad has emerged as one of India’s fastest-growing and most prosperous metro cities. It’s not just commercial success but residential properties too. It has expanded to cover the entire Telangana region. Poised to become a global hub for IT, ITeS companies, and manufacturing firms, its real estate market shows no sign of slowing. Let’s look at the reasons behind real estate growth in Hyderabad.
1: Infrastructure Development
One of the main reasons behind Hyderabad’s real estate market growth is the city’s infrastructure development. The government has made several investments to improve the city’s infrastructure. This has led to an increase in the number of people moving to the city, which has, in turn, increased the demand for housing.
• When we talk about connectivity, the Jawaharlal Nehru Outer Ring Road (JNORR) is getting improvements made to compete with Beijing’s 8-bangles Ring Road system to ease the commute from the Rajiv Gandhi International Airport and to nearby cities like Vijayawada, Warangal, Nizamabad, and Adilabad.
• Integration of the western and eastern parts of the city via the Blue Line Metro Rail project depicts the well-laid-out plans for infrastructure development that have made it an attractive destination for businesses. These regions are home to the Social Economic Zone (SEZs), Industrial Corridors, and IT hubs, thus a resultant influx in need for more residential properties, as people are looking for places to live near their work.
• The Hyderabad Regional Ring Road (RRR) Project has a proposal of 4 lane access-controlled road connecting its neighbouring districts. This advancement in commuting capabilities will decrease the intracity travel time along with generating employment and livelihood opportunities for the people outside of the main city.
Overall, the city’s infrastructure development is one of the main reasons behind the growth of Hyderabad’s real estate market.
2: Safe City & The Best Quality of Life
People want to live in a clean and safe environment, and Hyderabad performs exceptionally well on these parameters.
• A recent report released by UK-based Comparitech listed Hyderabad as one of the world’s top 50 most surveilled cities of the world. (source: theprint) This report shows how the CCTV cameras in Telangana’s capital provide a better sense of security to the residents—deeming it very attractive for people to move in.
• Another feather in the cap of Hyderabad is the rank improvement from 23rd to 13th in the 2021 Swachh Survekshan National Survey ranking those rates cities throughout the country on their cleanliness. (source: telanganatoday)While it also won the award for the Best Self Sustainable Mega City in the country by the Union Ministry of Urban Housing and Urban Affairs.
These stats and awards highlight the contribution of safety and cleanliness to the growth of the real estate market. Making it an attractive city for businesses to set up their operations, therefore increasing the demand for office space and residential property.
3: Cost-Effective Properties
Hyderabad is a city with a lot of new development happening. This means that the best real estate developers in Hyderabad are building many new apartments and properties that are available at relatively low prices throughout the city.
• Gated community flats, plots, and apartments in the city are cheaper than in other Tier 1 cities like Delhi, Mumbai, Bangalore or Chennai.
• Rental homes, apartments and flats are readily available and at lower rents than in other cities with similar carpet areas.
The combination of low prices and high demand results in solid growth potential for Hyderabad’s real estate market. Making it an attractive option for investors and people looking to buy a property in India.
4: Commercial Hub
Hyderabad is a major commercial hub in India. The city is home to many large businesses and industries. This has led to high demand for office spaces, so many new commercial buildings have been constructed in Hyderabad to meet this demand.
The growth of Hyderabad’s economy has also contributed to the city’s real estate boom. Many new businesses are moving to the city, attracted by its robust infrastructure and skilled workforce; observed by the Knight Frank India research, Hyderabad in the first quarter of 2022 has made a promising start with an increase of 72 percent in office space transactions year on year. (source: telanganatoday)
5: Large IT Companies
The presence of large IT companies in Hyderabad has brought in many people from all over the country looking for homes in Hyderabad. The demand for homes has increased.
The IT sector is not the only industry that is booming in Hyderabad. Many other industries are doing well, such as pharmaceuticals and biotechnology. The city is becoming increasingly popular as a place to live and work, thanks to the presence and expansion of global giants such as Google, Apple, Microsoft, Deloitte, Capgemini, and many other blue-chip companies.
Affordability of land and co-working spaces paired with the availability of a skilled workforce is driving home the growth of economic development of the city.
Hyderabad’s real estate industry is one of the most attractive, profitable and sustainable ways to invest money or earn quick returns. The city’s property rates have increased by 11% in the last year. With the increase in population by 1.5% annually, the demand for space is soaring high in the city. With more and more people looking to call Hyderabad home, the real estate market is sure to continue booming in the years to come, which is why it is necessary to invest in the best real estate company in Hyderabad, i.e. Auro Realty.