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.
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