The capital of Telangana is witnessing a real estate boom—when property is sluggish in the rest of the country. It is the only major city in the country that can give you good return on investment. Among India’s seven major cities, Hyderabad is the only one where property sales have grown.
In Delhi, Mumbai, Bengaluru, Pune, Chennai and Kolkata, sales have dropped sharply since 2013-14. Among the seven cities, Delhi-NCR saw the biggest drop in sales at 67% while Bengaluru saw the smallest drop at 21%.
The major reason is the political stability it gained in 2014 when it was separated from Andhra Pradesh after a long period of instability and uncertainty. Another reason is the government’s focus on development of infrastructure. The proactive government policy and infrastructural developments such as the Hyderabad Metro Rail, strategic road development and elevated corridors boosted the residential property market.
The government has strengthened infrastructure in areas where major IT companies are coming up, such as Nanakramguda, Gachibowli and surroundings of Balaji Chilkur temple within the HMDA limits. Carving out of new districts in the vicinity of Hyderabad, like Shamshabad, Yadadari Bhuvanagiri and Vikarabad, has paid dividends.
Boosted by the division of Andhra, Hyderabad property saw little impact of even demonetisation. A 2017 report by JLL said that demonetisation and the Goods and Services tax (GST) pulled down sale of residential units across the country, but Hyderabad saw an increase in launches. The end of political uncertainty and the state government’s focus on infrastructure have unleashed Hyderabad property market.
Being the only outlier in property growth among India’s seven biggest cities, Hyderabad could see even faster growth as big investors might make a beeline for it.
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