Man cannot manufacture land and therefore Real Estate – always remains in demand. Land prices and house costs fluctuate, as the demand for housing rises in urban areas. In addition to residential property demands, individuals and households look for employment, school, hospital and other facilities to lead a quality life. As these things aren’t available in villages and small towns, people migrate to cities. As per JLL reports 10 million people in India migrate to cities every year, which leads to rise in demand of property in cities.
Being an Industrial hub, Hyderabad is a preferred location for job seekers; almost half the population of the city is working. As real estate development takes time vis-à-vis migration of population there is a huge shortage of housing. The city has only 1.9 Million houses for a population of 8.6 million people. Further, the population of the city is growing at 3.3% per year which means there is a need to build more houses to accommodate this increase in population.
Hyderabad holds a high growth potential for investors as well as developers in the future. With political stability and the formation of Telangana as a separate state, we can expect huge investment and growth in the city. There are a number of factors which contribute towards Hyderabad becoming the Real Estate hub of Southern India, as enumerated in succeeding paragraphs.
Strong Economy of the City
Hyderabad is the biggest GDP contributor of Telangana State and fifth largest contributor to Indian GDP. With a revenue of $10 billion a year, Hyderabad promises industrial growth and a better quality of life. The city has emerged as a business hub with the highest number of Special Economical Zones in the country consisting of more than 1300 IT and ITES companies. Apart from IT, Manufacturing, Tourism, Service Industry, Government projects are the backbone of the economy of the city. The real estate industry is also expanding in response to the growth of other sectors. The city has a good platform and favourable conditions for growth, so it is prudent to invest in Hyderabad Real Estate.
Hyderabad Scores highest on the Liveability Index in India
Hyderabad is the fourth largest city of India, in terms of population. Inno Garage carries out Liveability analysis of cities in India based on 6 independent pillars, as per this analysis Hyderabad ranks 2, next only to Bengaluru. Mercer quality of living survey ranks the city #138 in the world which is better than any other city in India. Low cost of living, good infrastructure, attractive employment opportunities, access to quality education and other modern facilities make the city an ideal place for living. The glorious history and great cultural background make the city an attractive place for tourists. The city is the 2nd office and residence of the President of India during winters.
Hyderabad’s Infrastructure Dominance
With a population of 8.6 million people, Hyderabad is the one of the largest urban states of the country. The city boasts of well developed infrastructure which includes Metro, a good network of internal roads, highways, rail services, an international airport and shopping malls. The state of the art infrastructure has contributed greatly in the growth of the city. After it became the capital of Telangana a number of infrastructure projects have been lined up which will further enhance the city. The government has infusedprojects worth INR 21,000 Crore in the last year to solve the traffic problem and to de-congest the city.
Crystal Gazing the Future of Real Estate in Hyderabad
Hyderabad gives a stiff competition to other metropolitan cities of India. It has a cosmopolitan culture, good infrastructure, commercial strength and the most important – affordability. Being a hub of business, the city has an ever increasing pool of talent and it is an ideal location for industry and investment. 45.5% population of the city is working and, therefore, the demand for residential and commercial property will keep growing. The city holds a huge potential for investors as well as developers in the Real Estate domain.
Hyderabad is slowly stealing away the sheen of Bengaluru
Hyderabad has an ideal mix of educational institutions, employment opportunities, business expansion, cultural heritage and tourism. Hyderabad is a famous tourist destination, it is known for Charminar, Golconda Fort, Hyderabadi cuisine, Telgu Film Industry and the Ramoji film city. The growing IT and manufacturing industry boosts the economy of the city and thus makes it one of the most sought after business as well as residential destinations in India.There are immense opportunities of growth in Real Estate Sector in the city which need to be planned and exploited.
In the past 6 years, Hyderabad has caught up with Bengaluru in terms of infrastructure and ease of doing business, especially IT. With real estate costs sky-rocketing in Bengaluru and the infrastructure wearing out due to population explosion, Hyderabad has ceased the opportunity and offers a viable alternative to the industry as well as job seeking youth. The biggest advantage Hyderabad has is the affordable land and housing costs which make the real estate market a common man’s heaven. Hyderabad surely is the ‘city of the future’ in India.