It's the city of Nawabs, the city of pearls, the city of Charminar, and the special Biryani that the city serves has charmed millions.
This charm doesn't stop right here.
In fact, a property report says that the city of Hyderabad is the bright spot in Indian Real Estate.
Anarock Property Consultants analyzed the city's major real estate trends and concluded that the city is one of the most sought-after residential destinations in the country.
"The city is experiencing a phenomenal spurt in residential real estate activity with appreciating capital values and increase in retail and office space absorption from 2014 to 2018," reads a report from Anarock.
Here are quick pointers about the city:
Here are some reasons why Anarock is bullish about the real estate in the city:
- Absorption of real estate in Hyderabad increased by 21% in 2017 as against the previous year due to positive market sentiments coupled with growing IT work force mainly in the western parts of the city.
- The unsold inventory in the city has been declining gradually since 2017. In fact, the city scores far better than many other metros in terms of unsold stock pile-up situation.
- The total unsold stock in Hyderabad in Q2 2016 stood at 35,560 units, which reduced by nearly 14% in the corresponding quarter in 2017.
- Approximately 74,000 units have been launched in Hyderabad in the last 5 years, of which nearly 71% (~52,000 units) came in the western parts of the city.
- The unsold stock further reduced by 13% in Q2 2018 as against the same period in 2017. In a span of 2 years, the total unsold stock in Hyderabad reduced by nearly 29%.
Policy support from local government to strengthen the socio-economic indicators has largely attracted investments post-2014.
In the 23 page online report, Anuj Puri, the Chief at Anarock says, "Hyderabad, a densely populated city and a major IT/ITeS hub, is fast transforming into a mega-city with high liveability index."
"Furthermore, the city enjoys the benefit of a circular development due to the outer ring road which helps in multi-directional growth. Post state bifurcation in 2014, the political stability has given Hyderabad an upper edge as the government's key focus is on infrastructure development."
"Factors like an online clearance system for new projects approval, large-scale support from the state government for young entrepreneurs, low cost of living, good quality of life, abundant land availability, large talent pool and decent infrastructure make Hyderabad one of the most sought-after cities in the country."
Competition with other cities:
The city of Pearls scores highly on the factor of quality of life index. Only two Indian cities scored above 130- Pune and Hyderabad. The land of Charminar, scored higher on the residential attractive index.
And if that graph compels you to look at the price graph, Hyderabad's price has soared by 26% in the past six years (Between Q4 2012-Q1 2018).
The report says localities such as Ameerpet, Khairtabad, Somajiguda, Banjara Hills have reached saturation in terms of availability of land, employment opportunities and scope for future development
"Presently, the western part of the city is experiencing a surge in real estate activity with increase in supply and absorption. A whopping 75% of the new supply in residential projects is launched in the western zone of the city, due to presence of major employments pockets that has led to a surge in real estate activity."
"Micro markets such as Kondapur, Tellapur and Kokapet are witnessing an increase in new supply while property prices are seeing appreciation due to their proximity to IT hubs, good road connectivity, connectivity to ORR and availability of land for new developments"
The report also lists the finer details on localities such as Tellapur, Manikonda, Miyapur, Kondapur, Kokapet, Narsingi, and Nizampet.
The complete report is available here. Clicking the link opens a pdf in a new tab.