Hyderabad's Real Estate Market is Booming: What's Behind the Growth?
Real estate developers are bullish on Hyderabad's market, citing development initiatives and infrastructure projects as key factors.
Hyderabad Real Estate MarketCredaiTelangana GovernmentInfrastructure DevelopmentProperty ShowsReal Estate NewsJul 12, 2024
One of the main reasons behind this optimism is the slew of infrastructure projects in the pipeline, including the Metro Rail expansion, Musi riverfront development, and construction of elevated corridors on Hyderabad-Nagpur national highway and Hyderabad-Karimnagar Rajiv Highway. Additionally, the Regional Ring Road (RRR) and townships around the city are expected to boost the real estate market.
V. Rajashekhar Reddy, president of Credai Hyderabad, emphasized that these initiatives would drive growth in the sector. 'The government's focus on infrastructure development will make Hyderabad an attractive destination for investors and homebuyers alike,' he said.
The Confederation of Real Estate Developers' Associations of India (Credai) is also organizing property shows in the city, which are expected to attract a large number of visitors. Credai has urged Chief Minister A. Revanth Reddy to inaugurate the property shows, citing his role as the face of Brand Hyderabad and Telangana.
Developers have also raised concerns about the revision of market value of land, commonly known as government rate, and have urged the government to delay the process. They have also sought concessions for women on property registration charges.
According to B. Jagannath Rao, general secretary of Credai-Hyderabad, Hyderabad's welcoming nature has always made it a preferred location for people from all over India. 'Apart from materialist factors like affordability and high-quality lifestyle, Hyderabad's people make it a unique destination,' he said.
Government data supports the growth story, with revenue from registrations, number of properties registered, and building permissions sanctioned showing a significant increase during the Congress rule from December 2023 to June 2024.
Information
The Confederation of Real Estate Developers' Associations of India (Credai) is a leading industry body representing the interests of real estate developers across the country.
Credai Hyderabad is a chapter of the Confederation of Real Estate Developers' Associations of India (Credai), which represents the interests of real estate developers in Hyderabad.
Frequently Asked Questions
What is driving the growth of Hyderabad's real estate market?
Infrastructure development initiatives, such as Metro Rail expansion and Musi riverfront development, are driving growth in Hyderabad's real estate market.
How has the Telangana government contributed to the growth of the real estate market?
The government's focus on infrastructure development and initiatives such as the Regional Ring Road and townships around the city have contributed to the growth of the real estate market.
What is the significance of Credai's property shows in Hyderabad?
Credai's property shows are expected to attract a large number of visitors and provide a platform for developers to showcase their projects.
What concerns do developers have about the government's policies?
Developers have raised concerns about the revision of market value of land and have urged the government to delay the process and provide concessions for women on property registration charges.
What sets Hyderabad apart as a real estate destination?
Hyderabad's welcoming nature, affordability, and high-quality lifestyle make it a unique destination for homebuyers and investors.
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