Hyderabad: Despite claims from certain political circles that the real estate sector has experienced a downturn, Greater Hyderabad has emerged as one of the fastest growing real estate markets in the country. The city recorded an impressive sales value of Rs 58,481 crore in the first half of 2024, underscoring the sector’s robust growth.
According to GHMC commissioner K Ilambarithi, the momentum observed in 2024 is set to continue into 2025, with real estate sales and investments expected to reach new heights. The ongoing infrastructure development and govt-backed initiatives are expected to fuel further expansion in the coming year.
HYDRAA’s impact on real estate
While some initially believed the creation of HYDRAA might negatively impact the sector, a joint media conference by GHMC and HMDA commissioners and director of town and country planning Devender Reddy on Wednesday revealed that the real estate market has shown significant growth since its establishment.
From June to Nov, the city has seen substantial improvements in both residential and commercial real estate activity. In June, Hyderabad recorded Rs 4,288 crore in residential property sales.
Additionally, the city saw 2.5 million square feet of office leasing activity, surpassing the average quarterly leasing activity from 2023 by 11%. This increase in leasing reflects growing demand for office spaces as businesses expand in the region.
Investment boom, infra growth
Hyderabad’s rising prominence as an investment destination is further supported by its impressive growth in FDI, which has doubled to $3 billion, propelling the city into the top five states for investment in India, said Ilambarithi.
In Nov alone, 2,078 building applications were received, a 20% increase over the same period in 2023, signalling a sharp rise in development activity. GHMC has already processed 2,071 applications during this period, a 40% increase over the previous year.
The city’s real estate boom is not limited to just new projects. The growth in office space occupancy and residential sales have provided significant momentum to the sector.
Sarfaraz Ahmed, HMDA metropolitan commissioner, said that while applications were slow in the first half of 2024, from July to Nov, there was a notable uptick. The number of applications during this period increased by 45%, reflecting a resurgence in market activity coinciding with the formation of HYDRAA.
GHMC received 21,346 applications up to Nov, with 20,247 approvals granted. This growth in building applications will result in the addition of 8.90 crore sft of built-up space in the city.
This surge in construction has not only boosted real estate growth but also generated significant revenue. GHMC has earned Rs 730 crore in building and development fees alone.
Master plan for future development
To manage the growing demand and ensure sustainable development, Hyderabad is in the process of preparing a comprehensive master plan for the core city within the ORR. This plan, which is expected to be finalised by Oct-Nov 2025, will include a mobility plan, economic development plan, and blue and green infrastructure plan, ensuring that the city’s growth is well planned and future-ready.
Unedited
GFX:
Infrastructure works to be started, completed, and sped up in the GHMC area:
– 38 projects taken up under H-CITI with an estimated cost of Rs 7,032 crore.
– 934 roads under CRMP-II for a total length of 1,143 km, estimated cost: Rs 3,825 crore.
– 40 works under SNDP-II, estimated cost Rs 667 crore.
– 41 works under NDMF, estimated amount Rs 291 crore.
– Six flyovers inaugurated under SRDP.
HMDA: Works on two elevated corridors passing through defence areas in Secunderabad are expected to start by the end of January and March. Work will start for laying a radial road to the fourth city in 2025. The Mir Alam tank beautification project will start.
According to GHMC commissioner K Ilambarithi, the momentum observed in 2024 is set to continue into 2025, with real estate sales and investments expected to reach new heights. The ongoing infrastructure development and govt-backed initiatives are expected to fuel further expansion in the coming year.
HYDRAA’s impact on real estate
While some initially believed the creation of HYDRAA might negatively impact the sector, a joint media conference by GHMC and HMDA commissioners and director of town and country planning Devender Reddy on Wednesday revealed that the real estate market has shown significant growth since its establishment.
From June to Nov, the city has seen substantial improvements in both residential and commercial real estate activity. In June, Hyderabad recorded Rs 4,288 crore in residential property sales.
Additionally, the city saw 2.5 million square feet of office leasing activity, surpassing the average quarterly leasing activity from 2023 by 11%. This increase in leasing reflects growing demand for office spaces as businesses expand in the region.
Investment boom, infra growth
Hyderabad’s rising prominence as an investment destination is further supported by its impressive growth in FDI, which has doubled to $3 billion, propelling the city into the top five states for investment in India, said Ilambarithi.
In Nov alone, 2,078 building applications were received, a 20% increase over the same period in 2023, signalling a sharp rise in development activity. GHMC has already processed 2,071 applications during this period, a 40% increase over the previous year.
The city’s real estate boom is not limited to just new projects. The growth in office space occupancy and residential sales have provided significant momentum to the sector.
Sarfaraz Ahmed, HMDA metropolitan commissioner, said that while applications were slow in the first half of 2024, from July to Nov, there was a notable uptick. The number of applications during this period increased by 45%, reflecting a resurgence in market activity coinciding with the formation of HYDRAA.
GHMC received 21,346 applications up to Nov, with 20,247 approvals granted. This growth in building applications will result in the addition of 8.90 crore sft of built-up space in the city.
This surge in construction has not only boosted real estate growth but also generated significant revenue. GHMC has earned Rs 730 crore in building and development fees alone.
Master plan for future development
To manage the growing demand and ensure sustainable development, Hyderabad is in the process of preparing a comprehensive master plan for the core city within the ORR. This plan, which is expected to be finalised by Oct-Nov 2025, will include a mobility plan, economic development plan, and blue and green infrastructure plan, ensuring that the city’s growth is well planned and future-ready.
Unedited
GFX:
Infrastructure works to be started, completed, and sped up in the GHMC area:
– 38 projects taken up under H-CITI with an estimated cost of Rs 7,032 crore.
– 934 roads under CRMP-II for a total length of 1,143 km, estimated cost: Rs 3,825 crore.
– 40 works under SNDP-II, estimated cost Rs 667 crore.
– 41 works under NDMF, estimated amount Rs 291 crore.
– Six flyovers inaugurated under SRDP.
HMDA: Works on two elevated corridors passing through defence areas in Secunderabad are expected to start by the end of January and March. Work will start for laying a radial road to the fourth city in 2025. The Mir Alam tank beautification project will start.
