NCR and MMR seem to top the list when it comes to Indian real estate hot spots. However, it is Hyderabad that has emerged as the hidden gem over the past few years when it comes to most-sought after residential destination in India.
As per a recent report titled “Hyderabad: The Bright Spot in Indian Real Estate,”by Anarock Property the demand in the residential sector in the city has witnessed a significant increase due to rising employment opportunities and positive market outlook. While the rest of the nation was grappling under tripe effects of demonetization, RERA, and GST, Hyderabad continued its upswing and was just marginally affected.
In fact, over the past four years from 2014 to 2018, Hyderabad has been experiencing a phenomenal spurt in residential real estate activity with appreciating capital values and increase in retail and office space absorption, Hindu Business Line reported. The report mentions that the overall absorption in Hyderabad increased by 21 percent in 2017 as against the previous year due to positive market sentiments coupled with the growing IT workforce.
The report also adds that the absorption in Q1 2018 is at par with the new supply being pumped into the market. Approximately 74,000 units have been launched in the city in the last five years, of which nearly 71 percent (about 52,000 units) came up in the west zone.
Also, it is seen that unsold inventory has been declining gradually since 2017. Noteworthy here is that the city scores way better than many other metros in terms of unsold stock pile-up situation. The report states that in a span of two years, the total unsold stock in Hyderabad reduced by nearly 29 percent.
Hyderabad’s rise in Indian real estate can be reportedly attributed to policy support from local government to strengthen the socio-economic indicators. The constant support and investment-friendly environment, in turn, has largely attracted investments in the city post-2014.