In the last few years, the real estate sector of Hyderabad has been displaying remarkable growth. Immediately after the formation of the Telangana State, there was a lull in the real estate activities of Hyderabad. That was just a brief phase and it was not too long before the growth rate gained momentum.
It is seen that even the Covid-19 pandemic has not seriously impacted the sector; only the growth has slowed down a little. This article briefly speaks about some of the important points related to the historic city’s real estate segment.
- The Government of Telangana has brought out business-friendly policies like ICT and T- iPass. These policies have simplified the process of starting business operations in the state. This has greatly benefited all the sectors including real estate.
- Several global business leaders such as Amazon, Google, and Microsoft have opened their branches in Hyderabad. The city has become the hub of the Indian IT industry, during the last five years. With so much economic activity going on, it is obvious that the real estate of Hyderabad also registers phenomenal growth.
- The Covid crisis has led to a scenario where things like social distancing and business free of person-to-person contact have become crucial. This has brought about an increase in the number of locations like logistic centers and warehouses, in Hyderabad. The revenue generated by these commercial spaces is making up a significant portion of earnings of the overall real estate segment of the city.
- After the national lockdown of 2020, the real estate of Hyderabad recovered faster in comparison with other major cities of the country. This is primarily because of the excellent infrastructure of the city and which has tremendously grown in the last two decades.
- Along with Bengaluru, Hyderabad is the only other city in India where the residential property prices have not declined alarmingly, in these pandemic times.
- Many market experts say that the favorable trends in the city’s real estate segment will remain unaffected for at least a few more years.
- The adverse circumstances resulting from the pandemic have made people realize the importance of having their own house. A self-owned house provides a sense of security, especially during contingencies. This is a major factor due to which there is now a high demand for residential properties.
- On account of the capital cities dispute in the neighboring Andhra Pradesh, businesses are hesitant to invest in the real estate of that state. Instead, these business entities are making huge investments in Hyderabad real estate.
- There never has been an abnormal delay in the completion of big real estate projects in Hyderabad. That is opposite to the corresponding situation of the markets of NCR (National Capital Region) where such delays are quite common. In this context, the reputation of the Hyderabad realty sector is impressive. This positive facet is another reason for the surge in the city’s real estate segment.
- The outer ring road (ORR) is denoted as being one more factor that played a big part in the development of Hyderabad’s real estate. The ring road directly connects all the suburban zones of the city. People can conveniently travel between these areas without the need to pass through the city roads having heavy traffic. That has paved the way for increased demand for plots and properties close to the ORR.