Future of Real Estate sector in Hyderabad
The value of land determines the progress of a civilized place. Although the COVID-19 pandemic has adversely affected the Indian real estate sector in recent years, Hyderabad has managed to remain intact. Hyderabad is a city whose value has grown over time concerning many sectors including, Real Estate. Along with the booming IT sector and the tourism sector, the city has significantly grown over time attracting, millions of settlers from all across the country!
According to the report ‘Residential Market Viewpoints-Hyderabad Q2 2021’, 8850 units got introduced in the second quarter of 2021. In the second quarter of 2021, Hyderabad earned the most launches compared to the top-six cities in the country, making the growth prospects of the real estate sector quite attractive.
Despite this, the Real Estate activities take place in West Hyderabad. Also, in the study, Hyderabad’s sales percentage improved when compared to other Indian metropolises. The figure rose from 8.9% to 13.9% during the second quarter. Out of which, 68 percent of properties were sold in West Hyderabad.
Let’s go through the contributing factors that have led to the surge in the Real Estate Market in Hyderabad.
Real Estate sector is ever-growing
Hyderabad’s real estate market has been steadily growing since 2014 when the state was separated. Hyderabad has retained its top ranking in Mercer’s Quality of Living Survey 2019 for the fifth time in a row. Additionally, Hyderabad has scored well on cleanliness and low air pollution levels. Hence, many people prefer investing in the cities as well as in the outskirts.
Road connectivity and infrastructure development in Hyderabad have also reached a new level with several proposed metro lines, exit, and entry junctions from Outer Ring Road connecting with various residential developments in the city. Furthermore, multinational companies in Hyderabad are creating more job opportunities and attracting young couples.
Development of infrastructure
In Hyderabad, over Rs. 8,000 crores have been spent on infrastructure and other development projects over the last six years. Studies have identified Hyderabad as India’s most dynamic city. The city is committed to improving infrastructure and offering better facilities for future generations. As a result of the development of arterial roads and links at various junctions in the city, traffic congestion on major thoroughfares has been reduced.
Additionally, Outer Ring Road, which leads to residential areas like Kokapet, Narsingi, Rajendranagar, Puppalaguda, and Nanakramguda, has been developed and improved recently.
Market inventories and new launches
When it comes to new launches, Hyderabad dominates the real estate market. New data shows Hyderabad’s real estate sales grew by 76% from the previous quarter in the third quarter of 2020 despite the Covid situation. In recent years, NRIs also have shown renewed interest in residential properties. In addition to the increased sales in Hyderabad in Q3, the city also saw a 40% increase in new launches in Q3, followed by Mumbai at 20%. There are gated communities as well as lifestyle apartments and villas in Hyderabad designed to perfection for a luxurious lifestyle.
The city is an investment destination because Hyderabad investors are getting excellent returns on their investments. Infrastructure in Hyderabad has always been ahead of the growth of the city. As a city with excellent socio-economic infrastructure, it attracts both commercial and residential investments. Thanks to its well-planned IT and communications infrastructure, Hyderabad has seized the opportunity. It is perfect for both IT professionals and global IT giants. Hyderabad’s Outer Ring Road offers excellent connectivity to the airport and is the future of development in Hyderabad. In short, Hyderabad is ready for phenomenal growth in the years to come.
The positive results of every survey only suggest that the near future will be safe for every Real Estate stakeholder. For more insightful information and guidance In terms of Real Estate investments, make sure to contact Flivv Realty. We ensure the best services for you in order to help you make a wise investment