Hyderabad's Realty Sector Sees Significant Uptick in Investments
Hyderabad's real estate business is booming, with increasing number of registrations of plots and buildings, and permits for new constructions.
Real EstateHyderabadRealty InvestmentsHmdaGhmcReal EstateJul 13, 2024
The city's landscape is set to change with the ambitious Musi River Front Development Project, expansion of the Metro Rail, and construction of two elevated corridors connecting national highways from Secunderabad. Furthermore, plans to extend the scope of the Hyderabad Metropolitan Development Authority (HMDA) up to the Regional Ring Road and the government's focus on constructing the Regional Ring Road have contributed to the sector's growth.
According to officials, the income from registrations under the Greater Hyderabad Municipal Corporation (GHMC) and HMDA has increased compared to the past. Since the new government assumed power, Rs 4670.52 crore has been received through the registration of plots and buildings, marking a Rs 241.29 crore increase from the previous seven months. This growth is a clear indication of the real estate sector's expansion in Greater Hyderabad.
The total number of registrations in the last seven months was 2,18,160, a 12.5 per cent increase from the same period last year. Additionally, 54,111 flats have been registered so far this year, a seven per cent increase from the previous year. The number of building applications granted under GHMC and HMDA was 18,077, with a 13.17 per cent increase in building construction permits approved under GHMC.
The Hyderabad Metropolitan Development Authority (HMDA) is the urban planning agency responsible for the development of the Hyderabad metropolitan area.
The Greater Hyderabad Municipal Corporation (GHMC) is the civic body responsible for the governance of Hyderabad city.
Frequently Asked Questions
What is the current trend in Hyderabad's real estate sector?
The real estate sector in Hyderabad is witnessing a significant surge in investments, marked by an increase in plot and building registrations, as well as permits for new constructions.
What are the factors contributing to the growth of Hyderabad's real estate sector?
The formation of the new government, the Musi River Front Development Project, expansion of the Metro Rail, and construction of two elevated corridors connecting national highways from Secunderabad are some of the factors contributing to the sector's growth.
What is the income generated from registrations under GHMC and HMDA?
Since the new government assumed power, Rs 4670.52 crore has been received through the registration of plots and buildings, marking a Rs 241.29 crore increase from the previous seven months.
What is the percentage increase in the total number of registrations in the last seven months?
The total number of registrations in the last seven months was 2,18,160, a 12.5 per cent increase from the same period last year.
What is the percentage increase in building construction permits approved under GHMC?
There was a 13.17 per cent increase in building construction permits approved under GHMC compared to the previous seven months.
Related News Articles
Short-Term Rentals in Mumbai: Can You Lease a Property for 2-6 Months?
While the preferred period to rent a property in Mumbai is a minimum one year, there are instances when properties are leased for a shorter duration for two to six months.
Rs 2.5 Crore Cash and Other Assets Discovered in Former Constable's House
A staggering amount of Rs 2.5 crore in cash and other valuable assets have been found in the house of a former road transport constable. According to investigations, the constable had ventured into the real estate business while still in government servic
Investing in Somany Ceramics: ICICI Securities Sets Target at Rs 679
Despite a subdued demand in Q3, Somany Ceramics' management remains optimistic about the future, driven by the real estate sector. ICICI Securities has set a target price of Rs 679 for the company's stock, citing strong growth potential.
India's Commercial Real Estate Sector Embraces Sustainability: Green Workspaces in High Demand
New Delhi, India - The commercial real estate (CRE) sector in India is undergoing a significant transformation, with a growing emphasis on sustainability and the adoption of green workspaces. This trend is driven by both corporate responsibility and the i
Trump World Center: India's First Trump-Branded Commercial Real Estate Project
Tribeca Developers, in collaboration with the Trump Organisation, has unveiled its first Trump-branded commercial real estate project in India, aiming to generate $289 million in sales.
Douglas Elliman Launches AI-Powered Luxury Real Estate Platform
NEW YORK - Douglas Elliman Realty, a leading residential real estate brokerage, has launched an AI-driven luxury real estate platform to enhance the buying and selling experience for its high-end clients.