As the global effects of the COVID-induced pandemic fade, markets and economies have picked up the pace. The real estate narrative, in particular, is experiencing a boom in demand. Cities and towns in India are no exception. As public interest in property matters grows, the real estate narrative in Hyderabad continues to strengthen with renewed vigor.
In recent years, Hyderabad has emerged as one of India’s fastest-growing and most prosperous metropolises. The Hyderabad real estate market has maintained its momentum, with sales increasing by 32% in the third quarter of 2022 and new projects increasing by 19%. This sale includes not only residential properties but also commercial spaces.
Hyderabad is on track to become a global hub for IT, ITeS, and manufacturing companies. Without a doubt, the increase in employment has a significant impact on real estate, as the market shows no signs of slowing.
By September 2022, the number of residential units registered in Hyderabad had already surpassed 50,000. According to recent reports, the Hyderabad residential market, which includes the districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, has registered 50,953 residential units since the beginning of the year for a total value of Rs 25,094 crore.
According to experts, the city’s supply of new residential projects has increased due to the strong demand. 11,000 new housing units were built to keep up with the surge, which increased by 19% year on year during the quarter. Hyderabad also saw a healthy increase in price growth, with the aggregate residential value increasing by 6% year on year during the third quarter of 2022.
Aside from residential demand, the city saw eight lakh square feet of office space transactions during the third quarter. According to a source, the city has seen new office completions of up to 33 lakh square feet. The city also had the third-highest 12-month office rental value growth among eight major Indian cities this quarter, with an average rent increase of 7% yearly.
According to industry observers, Hyderabad registered 4,307 residential property units in September 2022 alone. The total value of these properties exceeds Rs. 2,198 crores.
In September, home sales registrations in the Medchal-Malkajgiri district were 43%, followed by 41% in the Rangareddy district. In September 2022, the Medchal-Malkagiri districts saw the highest YoY increase of 21%. This indicates that higher-value homes and plots were sold in this area during this time period.
When it comes to good investment locations in Hyderabad, the areas along the Outer Ring Road and near the Hyderabad Airport are the best bet. Yadadri, Shadnagar, Sadasivpet, and other prominent locations are rapidly developing areas offering a high investment return. BBG Group believes in assisting our customers in making investments that will help them grow their wealth.
At BBG, we wake up with the sole intention of making a difference, of shaping a brighter future for the girl child. Every day, we live and breathe this dream, a vision of making an unforgettable mark on the lives of 2 million girls by 2040.
Every girl child is a Bangaru Thalli with the ability to usher in a better future for herself and her family; confining her to the confines of the home is like caging a bed with the potential to soar to the heavens. When given a chance, they made not only their families but also their towns, neighborhoods, and the country proud.
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