North Hyderabad's Rise to Affordable Luxury in the Real Estate Market
North Hyderabad has seen a 180% rise in property sales over the past five years, driven by infrastructure development and industrial growth.
Real EstateHyderabadNorth HyderabadAffordable LuxuryCredaiReal Estate NewsAug 10, 2024
According to B. Jagannath Rao, Secretary of CREDAI Hyderabad, the area has seen a dramatic rise in demand for various property types, including villas, 2BHKs, and 5BHKs. The price range of 1 crore to 2 crore saw an impressive 264% increase in sales, while properties priced under 1 crore rose by 128%. Properties in the 2 crore to 5 crore range also experienced a 157% increase.
The average unit value in North Hyderabad has risen by 35% from H1 CY19, now standing at 1 crore. These figures highlight a marked increase in both demand and property values in the region, with expectations of further price hikes.
The growth in North Hyderabad can be attributed to the development of industrial corridors across Hyderabad, including the North corridor. The tallest IT Tower at Kandlakoya is under construction, which will accommodate 100 companies and create 50,000 jobs. Additionally, the area has become a hub for biomedical research and development, hosting over 200 companies and employing 15,000 people, including major global firms such as Novartis and GlaxoSmithKline.
The Hyderabad-Nagpur Industrial Corridor (HNIC) is expected to further boost growth, increasing demand for housing. The northern belt, led by Medchal, is experiencing significant advantages due to its excellent road connectivity to key regional towns like Gajwel, Siddipet, and Karimnagar.
The establishment of the National Investment and Manufacturing Zone (NIMZ) in Zahirabad is playing a crucial role in this expansion, strengthening northern Hyderabad's position as one of the city’s fastest-growing and most promising regions.
Information
CREDAI Hyderabad is a leading real estate association in Hyderabad, representing over 200 developers and builders in the region.
CREDAI (Confederation of Real Estate Developers Associations of India) is a national body of real estate developers, representing over 12,000 developers across India.
Frequently Asked Questions
What is the growth rate of property sales in North Hyderabad?
Property sales in North Hyderabad have seen a 180% increase over the past five years.
What is the average unit value in North Hyderabad?
The average unit value in North Hyderabad has risen by 35% from H1 CY19, now standing at 1 crore.
What are the major drivers of growth in North Hyderabad?
The growth in North Hyderabad can be attributed to the development of industrial corridors, the construction of the tallest IT Tower, and advancements in biomedical R&D.
Which companies are present in the biomedical research and development hub in North Hyderabad?
Major global firms such as Novartis and GlaxoSmithKline are present in the biomedical research and development hub in North Hyderabad.
What is the expected impact of the Hyderabad-Nagpur Industrial Corridor on North Hyderabad?
The Hyderabad-Nagpur Industrial Corridor is expected to further boost growth, increasing demand for housing in North Hyderabad.
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain