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Hyderabad, the city of Nizams, has been on the real estate radar for quite some time. With rapid infrastructure development, its commercial scenario has started giving tough competition to several major cities in the region. Amidst much political turmoil, this capital city of the newest Indian state, Telangana, continued to impress the investors. It is the only city that offers a perfect mix of three important things – namely, excellent infrastructure, affordability and a cosmopolitan lifestyle. According to a recent report, Hyderabad has been recorded as the most affordable metro city for buying and renting.
Let us talk about the three recent developments on the city’s skyline that makes it worth investing in:
Hyderabad Metro: Ready to Run as the City’s Lifeline
Hyderabad is ready to make the first phase of its metro rail operational either by Ugadi that falls on March 29, 2017 or on Telangana Foundation Day, that is, on June 2nd. Two stretches of two different corridors will be unveiled. Starting of metro rail in a city has worked wonders for its real estate and Delhi/NCR is the perfect example for it. After many hurdles in the way like a dispute between SCR and HMRL for building tracks over Railway Over Bridges (RoB), Metro in Hyderabad is finally set to run. The areas around popular metro stations will witness commendable price appreciation. Developers have already started purchasing land parcels along projected development locations which are now affordable but will soon rise in price.
Hyderabad Developing into a Global Business City
Seeing the growth trend of Hyderabad, several MNCs and global businesses are looking forward to set base in the city. Recently, Apple CEO Tim Cook showed interest in setting up Apple in Hyderabad. It will be a development office dedicated to creating maps for Apple and will generate more than 4000 job opportunities. The office will be LEED certified green homes in Waverock Campus. Top US based firms in Hyderabad includes Accenture, Bank of America, Bose Corporation, Deloitte and many more. The city is gradually developing into a global business city which will be a major push for its real estate sector.
Hyderabad to rank 2nd in commercial leasing, ahead of Mumbai
As per recent studies, the Real Estate in Hyderabad is anticipated to occupy the second position, leaving behind Mumbai and Gurgaon, in annual commercial leasing, mopping up a commercial space of 6.7 million square feet, in the coming quarters. Bengaluru will hangover around 10-12 million square feet range. This increase in demand is fuelled by excellent infrastructure paired with wide road network and continuous flow of power and water.
Affordable pricing is the USP of this hi-tech city and the growth in the rentals of the commercial spaces indicates that there is enough demand in the western region comprising IT corridor.
Hyderabad, as compared to other metros, in reference to commercial leasing still flaunts an affordable rate card and is complimented by strong social infrastructure. The rapidly flourishing market incorporates some of the best hospitals, educational institutions and high-end retail spaces. Builders both outstation and local, big and small, are eyeing the region and are seriously thinking about making investments in this area and for further expansions. The icing on the cake is the city's big talent pool which has led to an influx of new companies and the already existing ones like Tata, Wipro, and many other pharma firms are exploring for additional space and enhancing their employee strength. Amazon too has high hopes for the future. Since expansion and growth have direct relation to the market sentiments, with the state government supporting the industry, things seems to very bright and positive in the years to come.
Thus, the above three recent developments on the cityscape of Hyderabad will pave the way for commendable growth that is in the pipeline. More MNCs results in more jobs which lead to huge influx of talented crowd. To support the growing population, stronger infrastructure will be needed which will attract more companies.
Hence, the cycle of growth has already started for the city of Hyderabad. And, the time now may be just the best moment to seize the opportunity to buy or invest in this vibrant capital city of Telangana.
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