By Vijaya Sarathi G, Sr. Brand Consultant
Hyderabad has been always perceived as one of the top-ranked cosmopolitan cities in India. and the most preferred location for migrant IT & ITES employees. Interestingly the pearl city is now attracting many business aspirants & investors, for its sparkling returns on investment made in the realty sector of Hyderabad
Hyderabad has got a huge tech absorption rate of over 82% as per Knight frank a renowned real estate consulting firm. New establishments eventually increase the scope for huge employment in IT and ITES in and around HITEC City, Gachibowli, Financial District and upcoming SEZ developing in Kokapet.
In the year 2020 unlike many other businesses sectors, the realty of Hyderabad also was hit hard due to the C19 pandemic and had to face severe crises due to various economic, social, emotional concerns of potential buyers.
The announcement of Unlock 6.0 has strengthened the crumbling realty of Hyderabad. Year 2021 early two months proved to be quite encouraging for Hyderabad real estate market as many offices resumed their services.
Some tangible reasons sighted for real estate growth and investors inclination
- Employees are showing interest in buying a home for them instead of taking a house on rent, making space for WFH
- Potential buyers are investing in residential properties along the side of ORR where they see the huge scope of rental income in the near future or high returns in the next 5 to 7 years
- The initiatives taken by Govt of Telangana and Industrial infrastructure corporation Ltd. (TSIIC) to rejuvenate Hyderabad real estate few are as
1. New IT parks under GRID Policy to usher realty growth the plan to develop two new IT Parks in Kompally and Kollur and the conversion of eleven industrial parks into IT hubs is anticipated to fillip the city’s realty landscape.
2. Proposed Integrated Township Policy along the Outer Ring Road (ORR) is expected to open the way for residential and commercial expansion. Areas that would benefit the most from these satellite townships include Kokapet, Kollur, Narsingi and Kompally, among others
- IT/ ITES and retail expansion proposed under the LEAP and GRID Policies,
- State Building Permission Approval on construction and Self Certification System (TS-b PASS) and (TS- I Pass)