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
PropEx.ai and Iconic Era Properties Announce Exclusive Partnership to Revolutionize Real Estate Investment
Real estate agency Iconic Era Properties LLC partners with PropEx.ai to provide exclusive real estate investment opportunities in India and abroad.
Vikram Pandit's RM 3000 Crore Exit from JM Financial Credit Solutions
Vikram Pandit exits real estate financing business, sells 49% stake in JM Financial Credit Solutions to Nimesh Kampani's JM Financial for Rs 3,000 crore
Tata Realty to Triple Office Space Portfolio in 7 Years
Tata Realty plans to triple its office space portfolio in 7 years, expanding its presence in Pune, Bengaluru, and NCR.
Knight Frank India Sees Price Correction in High-End Real Estate, While Lower-End Stays Steady
Pricing has been one of the problems that we are expecting to haunt the real estate sector, especially in the mid to upper end. In a few market segments, we are witnessing a gradual price correction, particularly in high-end properties.
Mumbai Property Registrations Show 5% Increase in November: Knight Frank
In a recent statement, real estate consultant Knight Frank India reported a 5% rise in property registrations in Mumbai during November. This positive trend highlights the growing interest in the city's real estate sector, despite ongoing economic challen
Pune: NCP Leader Allegedly Assaults Real Estate Developer in Broad Daylight
In a shocking incident in Pune, NCP leader Baburao Chandere allegedly assaulted real estate developer Vijay Raundal in broad daylight. The incident has sparked outrage and calls for swift legal action.