Why is Hyderabad experiencing a boom in residential property?

Why is Hyderabad experiencing a boom in residential property?

Hyderabad, the city of pearls is currently experiencing a great boom in both the commercial as well as residential property areas. On one hand where global IT giants like Microsoft and Google are looking out for spaces in Hyderabad, and on other people are looking out for luxurious villas for their dream homes in Hyderabad. None of the other states, unlike Hyderabad, has experienced an increase of 28% in the real estate sector in the last couple of years.

Hyderabad offers vast land options to buy and build your desired property at an affordable price. And if you do not wish to use it for yourself, you can always put it out at a higher price for future resale. Some of the reasons that make Hyderabad a great place for investment are

  • In spite of rapid infrastructural development, the price of real estate in Hyderabad is still affordable. The city has a huge scope of development both socio-economic and infrastructure ways. And as compared to other metropolitan cities, the property prices are way affordable. Apart from this, Hyderabad has recently witnessed a remarkable transformation with a world-class airport, it is the sixth biggest airport in India in terms of both traffic and handling more than 15 million people in a year.
  • With the increase of infrastructure development and government development projects, Hyderabad is a perfect fit to get profitable returns on your investment. The city has been planned before to meet the goals of both its environmental and industrial sectors.
  • Since the last couple of years, many top IT and e-commerce companies have built their offices in Hyderabad, due to which a rapid demand has been seen in the residential sector. The presence of humongous global IT giants has given significant importance to the city, and thanks to the T-Hub which has provided an excellent start-up ecosystem for the companies.
  • The government also has put a great effort into the development of the city and its infrastructure, and the city is now forecasted to become India’s next Silicon Valley. The government of Telangana for a long while has been extending an immense amount of support to the real estate sector of this city. Several progressive policies have been pushed into this city to have a higher growth trajectory.

 

Recently, a new model was launched by the Telangana state government. It was named Telangana State Building Permission Approval and Self-Certification System (TS-bPASS), it facilitates and hassle-free approval for all kinds of business and industrial project units. The TS-bPASS has brought in a revolutionary change to grant the real estate projects their approvals. It has even served a business-friendly environment that has contributed a lot to uplift the status of investment in Hyderabad city.

Other growth drivers of the city include education hub, recently this city has also been recognised as one of the major education hubs for tech students and students who are research enthusiasts in pharms, biotech, and defence-related technology. And even in terms of women’s safety, Hyderabad is one of the best cities in India which has curbed eve-teasing in all aspects and forms. To enhance the security more, several CCTV cameras have been installed around the city to drastically reduce the rate of crime.

The growth and performance of the real estate sector in Hyderabad’s market has remained consistent throughout the last few years and have even maintained an annual price growth in each of its quarters. The rise of IT companies, finance sector companies, and pharmaceutical have driven phenomenal growth in this key sector. A huge credit of it goes to unlimited job opportunities and fabulous infrastructures that the city is getting a boom in the residential projects as compared to other metro cities in India.

As the government of Hyderabad is taking up all the measures and steps to develop the city, many real estate projects alongside are growing in all the corners of this city. The real estate sector of this city has witnessed steady growth and till now delivered more than 50 percent return on investments during the last couple of years, which consistently impacts positively on its residential property. The rate of the property is something that always keeps on fluctuating depending on the demand and sales. Therefore it is always wise to invest as early as possible.

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