NRIs, young professionals want a slice of Hyderabad’s plush realty
Hyderabad’s infra received a shot in the arm with CM KCR keen on developing amenities not just for immediate needs but also to meet challenges of decades to come
Hyderabad: Blessed with abundant growth potential and a government that is keen and determined to propel it with positive policy-making, Hyderabad’s real estate has been on a growth trajectory in an unprecedented manner.
The city’s positive vibes, despite the disconcerting real estate scenario in different parts of the country, continue to pervade all around and not just fulfil the property aspirations of the local populace but also entice investors from across the country. The desire for a slice of Hyderabad’s appealing real estate has gone up sharply among NRIs and young Indian professionals across the globe.
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Rejecting critics and pessimists at every step, Hyderabad retains its lustre as a sought-after destination among property seekers. The city’s growth story is dotted with shiny examples; the very recent being the auction at Kokapet’s Neopolis layout, which shattered records and scaled a new high, with an acre being sold for Rs 100.75 crore. The auction that followed at Budwel also promised to fetch Rs 3,625.73 crore for just 14 plots.
Prominent developers admit that Hyderabad has been raising the bar consistently for real estate even when some other big cities struggle to find a footing after the pandemic and to grow. The outcome of the Neopolis layout auction surpassed the calculations of many. A leading developer in the city, however, said the high bidding should not be surprising. “It did cross our estimates. But, it only reflects the high positive energy that Hyderabad brings to the real estate market,” he added.
The city’s infrastructure received a shot in the arm with Chief Minister K Chandrashekhar Rao keen on developing amenities not just for immediate needs but also to effectively meet the challenges of decades to come. A series of measures aimed at improving infrastructure and developing an unheard-of road network ranging from slip roads to the regional ring road have come as a boon as Hyderabad continues its rapid growth in ever-widening circles.
Seniors in the real estate industry concede that the focus to redesign and redefine the city’s infrastructure was something that even they had not envisaged. “The State government’s efforts are unprecedented and are on the right track. Hyderabad never had it so good,” says a developer, who has been involved in city projects for nearly two decades.
The rising demand has been propelling the property prices in the last few years, yet Hyderabad remains one of the most affordable locations on the realty map. “The quality of infrastructure is improving and that in turn, improves the quality of life for citizens. For this, a prospective property seeker is willing to pay more,” points out another builder.
Enjoys undisputed position on India’s realty map
Comparative analysis, reports and data collation by leading real estate consultants continue to underscore Hyderabad’s undisputed position on the country’s realty map.
A recent report by Knight Frank India recorded an impressive surge of Hyderabad’s real estate, with property registrations in July 2023 rising by 26 per cent compared to the same period last year.
Anarock’s analysis pointed out that among the top seven cities of the country, Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes over the last five years.
CBRE South Asia, India’s leading real estate consulting firm, in its findings of Jan-Jun ’23 residential sector data, said Hyderabad recorded the highest percentage increase in sales on a year-on-year basis with a whopping 14-fold growth.
