Hyderabad’s IT industry fuels real estate boom
Data from the Integrated Grievance Redressal (IGR) Telangana, compiled by Square Yards for Q4 2023 (October to December), highlights a dynamic real estate landscape marked by substantial transactions across diverse micromarkets.
Hyderabad: Hyderabad‘s real estate market is driven by the thriving Information Technology (IT) industry in the city, as per a recent report by Square Yards. The presence of global tech giants such as Google, Microsoft, and Facebook has led to a substantial influx of IT professionals, resulting in demand for high-quality residential housing.
Data from the Inspector General of Registration (IGR) Telangana, compiled by Square Yards for Q4 2023 (October to December), highlights a dynamic real estate landscape marked by substantial transactions across diverse micro markets. The total transactions during this period amounted to 16,807.
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The west zone, comprising real estate hot spots like Gachibowli, Hitec City, Madhapur, and Manikonda, emerged as a powerhouse with transactions totaling Rs 5383 crore and involving 8,058 transactions.
However, saturation in major micro markets of the West Zone has led to spill-over demand into the Central Business District in the Central Zone. This shift is evident in the 1,323 transactions totaling Rs 1017 crore during the same period.
The East Zone experienced a surge in transactions (2,536) amounting to Rs 965 crore, attributed to the rise of IT parks, increasing popularity of metro connectivity, and extensive civic infrastructure development in areas like Pocharam, Uppal, and Habsiguda. The North Zone has positioned itself as a promising investment destination with 2,179 transactions.
According to data sourced by Square Yards from property registration records, Aparna Construction and Estates dominated the charts with 621 units sold, totaling Rs 510 crore. Sumadhura Infracon, a new entrant in the top 10 developers list, closely followed with 145 units sold, amounting to Rs 196 crore in the October-December period.
