Technology adoption in India has been significant over the past few years, as the nation has a strong focus on science and technology. Meanwhile, if we combine the technological growth of different states across the nation, it seems that Hyderabad could soon become the Technology Hub of India.
Hyderabad garners phenomenal revenue
Following the state’s economy, it is observed that it has displayed a strong economic trend. The state consistently maintained a high per capita income and has shown a dipping poverty graph.
Recently, the IT Minister of Telangana, KT Rama Rao, shared a report unveiling some flaunting revenue growth in the previous financial year. As per the report, the state has noted an extraordinary growth of more than 26% in the IT sector.
Following the revenue and per capita growth, the government believes they will hit their 25 years target in just 15 years. Moreover, this growth has also shown its impact on infrastructure development.
Hyderabad – City with excellent infrastructure
Compared with other metro cities in India, Hyderabad has the lowest real-estate prices. Any start-up or firm can easily leverage the robust infrastructure cost-effectively in the city.
Last year, Hyderabad was the tough performing real estate market, with sales increasing by more than 142% Year-over-Year to approximately 24,312 units. Notably, the growth over the past year is noted to be one of the highest since 2011.
Looking at the real-estate industry growth over the past decade, we have observed that Hyderabad is the only market among the major cities that has not a single year of price reduction.
Time to buy properties in Hyderabad!
With significant growth in its IT, finance, and real-estate sectors, Hyderabad has become one of India’s most favorable property investment destinations. Although the policy and structural changes have reformed the market dynamics, the city is still homebuyer-friendly.
Hyderabad’s enabling infrastructure is also home to many global blue-chip firms, including Google, Microsoft, Uber, and Qualcomm.
It is also notable that during the global COVID-19 pandemic, the demand for housing across the city has seen a rising trend. Most of the demands were for large houses or residential units in the range of (1,000-2,000 sq ft) because of Work From Home and online studies. Ignoring the economic slump and inflation, real estate in the city has continued to soar because of high demand. Simultaneously, expensive construction materials are also influencing the price.
With rising costs, in the first quarter of this year, the industry inclined by 1% yearly. Compiling the previous data and upcoming developments in the city, it is estimated that the real-estate prices are going to stay either steady or climb, but not plunge.
Upcoming residential projects in Hyderabad
The Indian IT Hub is hiring several techies who are looking for some peaceful residential units. Following the rising demand, many developers are introducing tremendous projects. Simultaneously some upcoming projects by some leading developers like Urbanrise, Amaya, Nyla, ASBL, and Raghuram Pvt. Ltd. are getting mainstream demand.
Witnessing such a suitable time, if you are also looking to buy, rent, or lease some luxurious villa, house, or apartment then Contact Us.