Real Estate Market in Hyderabad 2023
The real estate market of Hyderabad in 2023 seems promising because of the greater demand for property in this area. Hyderabad's real estate landscape continually evolves, with several emerging submarkets garnering significant attention. Gachibowli, Kondapur, Nallagandla, Kokapet, Narsingi, and Tellapur have witnessed remarkable growth on the city's periphery. The expansion of the IT corridor towards these regions, coupled with improved connectivity through the Outer Ring Road (ORR), has fuelled their popularity.
The city's robust IT and corporate sectors continually attract talent nationwide, creating consistent demand for rental properties. Areas like Gachibowli, HITEC City, and Madhapur are particularly lucrative for investors looking to earn steady rental returns. From residential to commercial and retail spaces, the city's diverse real estate offerings provide a wide range of choices for investors seeking long-term or short-term gains.
1. Fast-paced Infrastructure Development:
The Telangana government's commitment to developing Hyderabad's infrastructure is evident. Notably, the construction of the Jawaharlal Nehru Outer Ring Road (JNORR) – mirroring Beijing's 8- bangles Ring Road – promises swift connectivity across the city.
Additionally, the Metro Rail initiative holds the potential to seamlessly connect the city's western and eastern zones, especially their vital economic zones, industrial corridors, and IT hubs – making Hyderabad an increasingly promising destination for real estate investment.
2. Hub of Commercial Activity:
A real estate market study revealed that in the third quarter of CY2020, Hyderabad and Bengaluru emerged as the most popular commercial real estate markets, accounting for 23.7% and 22.9% of pan-India leasing, respectively. Also notable were new developments of 3.3 million sq. ft centred in Gachibowli and HITECH City submarkets.
3. Advancement in Infrastructure:
Recent reports reveal that Telangana State has allocated a substantial 63% of its budget to infrastructure and economic development. This investment covers urban and suburban construction, roads, sewerage, bridges, civic amenities, and real estate. Plans include:
- Underground drainage system
- Robust road network
- Water grid
- Enhanced ring road system for improved citywide commuting
4. Government Support in the Industry:
The Telangana government's proactive measures have transformed Hyderabad into an international city and a business-friendly hub. It aims to create a favourable business environment and enhance Hyderabad's investment appeal.
These policies, including reforms like RERA and GST, have boosted real estate values and benefited both sellers & buyers. RERA has improved investor confidence by ensuring transparency, mandatory registration, and strict penalties.
5. Quality of Life:
Hyderabad's allure extends beyond technology; it offers an exceptional quality of life with favourable indices for cost of living, healthcare, and safety. A 2017 media survey ranked Hyderabad as the safest city in India for women due to its robust security measures, including extensive CCTV coverage and dedicated police patrols.
This secure environment appeals to young professionals working in IT, finance, and IT sectors that often require night shifts, as it provides a sense of safety and convenience for their daily commutes.
The Prestige City Hyderabad is a prelaunch apartment project developed by Prestige Group.
