Hyderabad to become one of the most promising realty destinations in India – Here’s why

financialexpress.com:

The real estate sector is observably one of the most fragmented sectors in the country, engaging a large workforce and contributing around 7% to Indian GDP. Metro cities such as Mumbai and Delhi-NCR are gaining maximum traction due to being a hub for businesses. However, compared to other competitive metro markets, Hyderabad is set to become the most promising real estate destination in the country. As per a recent industry report, Hyderabad, along with Mumbai and Pune, will be driving growth in the real estate sector in 2024. The following are some of the key factors that will propel the city’s real estate to the next level in 2024.

Growing Corporatization of Employment Segment: Over the recent years, Hyderabad has been growing rapidly with strong organized sector employment driving growth in the city. Driven by a booming IT sector and excellent infrastructure, Hyderabad has become a real estate hotspot for both domestic and international investors. The expansion of the technology sector and industrialization in Hyderabad has led to a predominant concentration of residential development near the key office micro markets of the IT Corridor and the extended IT Corridor in the western part of the city. In fact, Hyderabad is leading the technology revolution in the state. As per Government reports, the state recorded a growth of 31% in IT and IT-enabled services exports in 2022-23. Over the recent years, having established itself as the hub of manufacturing, IT, and ITeS companies, the city has been witnessing a greater appreciation of property, an increase in foreign direct investment, the growth of a more economically empowered citizenry, and the creation of a more aspirational society.

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