Reasons Why Hyderabad’s Residential Property Market Is Booming
Residential property prices in Hyderabad have remained stable for many years, which has kept investors away in favour of Bangalore and Chennai. The good news is that Hyderabad’s real estate costs have increased drastically over the past couple of years. A rebound in business investments will also help new homes, which will benefit from this. In addition, upgrades to infrastructure like the Metro Rail and Outer Ring Road have set the way for future real estate development.
When compared to other major cities, Hyderabad is indeed enjoying a surge in residential constructions thanks to its abundant employment possibilities and expanding infrastructure. Here are some reasons why Hyderabad’s residential property market is booming:
- Affordable price: In comparison to other established cities, Hyderabad is still an affordable place to buy or rent apartments, houses, or land. Additionally, Hyderabad has significantly more affordable land availability, which has prompted investors and the development of residential buildings by real estate developers. Gated community apartment rentals in Hyderabad are comparably less expensive than those in Mumbai, Bangalore, or Chennai. This has raised housing demand as the IT workforce from nearby cities has moved here.
- Connectivity: Since it began operating in November 2017, the Hyderabad Metro has made commuting for long-distance IT professionals much simpler. Hyderabad differs from most other chaotic Indian cities in terms of connectivity. The 8-lane ORR highway, which spans over 158 km and includes raised corridors, well-planned highways, and has increased access to all regions of the city.
- Real estate-related government policies: A few laws put in place by the Telangana State Government would help the real estate market grow and make it easier for buyers and sellers to deal. Residential housing purchasers and sellers have benefited from government measures like RERA.In addition to other regulatory measures, it is the RERA which has sparked investors’ interest in the real estate industry. This law supports strict sanctions, required registration, and total openness in the sales and purchase process.
- IT hubs and start-ups: Global behemoths like Google, Apple, Amazon Data Center, Microsoft, Deloitte, Capgemini, and Genpact, as well as other blue-chip firms like TCS, Wipro, and Infosys, are constantly growing their bases in Hyderabad. For people from all over the world, the establishment of these businesses and others has improved work opportunities. The residential real estate market will inevitably expand given the size of the population.
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Last updated on January 17, 2023