Proactive governance, focus on job creation aided residential realty’s quantum leap

[Undilaemanchikalam]

Jun 3, 2023, 08:10 IST

Hyderabad: From a metro lagging way behind its counterparts and even smaller cities like Pune in terms of realty prices prior to statehood, in just nine years Hyderabad has galloped ahead, emerging as one of the top three markets in the country, behind only Mumbai and Bengaluru, when it comes to weighted average housing prices.

Hyderabad is the only city among the top six to have witnessed a steady increase in weighted average housing prices, data provided by realty consultancy firm Knight Frank suggests. 
While this has hit affordability as prices have sprinted ahead at a breakneck speed to over ₹8,000-10,000 per sq ft range and even higher, especially in the western and south-western parts of the city housing the IT corridor, it has failed to dampen buyer appetite. 
As per realty consultancy firm ANAROCK, Hyderabad was the front-runner in clocking the highest growth of 455% in the value of home sales transacted over the past two years from ₹5,970 lakh crore in 2020 to ₹33,100 lakh crore in 2022 as residential realty sales zoomed during the Covid-19 pandemic.
It also registered the highest-ever residential launches and sales over the past decade in 2022 and emerged as runner-up next to Mumbai Metropolitan Region, ANAROCK added.

Realtors say the biggest hero driving Hyderabad’s property market steadily northwards is the city’s job creation focussed growth story across multiple sectors led by IT& ITeS fuelled by proactive governance.
“Successive governments added value right as Hyderabad was the crown jewel of undivided AP and later of Telangana. Politics playing a business-friendly role is the key differentiator,” said Samson Arthur, senior branch director, Knight Frank. 

“Hyderabad’s flourishing economy, expanding infrastructure, upward trend in office space consumption, business-friendly policies have been catalysing the city’s realty market,” said Anuj Puri, chairman, ANAROCK Group.
Pointing out that property prices were unnaturally depressed during the statehood agitation and have now risen aided by robust demand as well as soaring input costs, CREDAI national secretary G Ram Reddy said: “Focus on infrastructure, safety and security, thrust on IT&ITeS along with strong sectors have all boosted Brand Hyderabad.”
Agreeing, CREDAI Hyderabad chief Rama Krishna Rao said: “Hyderabad’s growth is a result of proactive policies and the creation of huge employment across sectors.”

[Spartan]

only drawback is it was concentrated to West and soutwest of Hyderabad..

hoping to see that change with new upcoming projects

[VictoryTDP]

19 minutes ago, Spartan said:

only drawback is it was concentrated to West and soutwest of Hyderabad..

hoping to see that change with new upcoming projects

antha chinna dora chethilone undi 

[Spartan]

1 hour ago, VictoryTDP said:

antha chinna dora chethilone undi 

yes East Hyderabad lo he has lot of projects coming up...

munde infra lay chesesadu vati kosam.