Hyderabad real estate sector is on an upward growth trend
Hyderabad: Amid HYDRAA demolitions in and around water bodies under the GHMC limits, certain political parties raised the concerns of negative publicity for Hyderabad. On the contrary, Greater Hyderabad is thriving in the real estate sector.
The Hyderabad Metropolitan Region (HMR) is being counted as one of the fastest growing real estate markets in the country. The region has witnessed significant growth in the real estate sector and the momentum is expected to continue in 2025 within GHMC and HMDA limits, according to GHMC Commissioner K Ilambarithi.
Hyderabad recorded a robust growth with the housing sales value touching Rs. 58,581 crore in the first half of 2024. In June alone, the city recorded Rs. 4,288 crore in residential property sales. Around the same time, the city achieved 2.5 million square feet (MSF) of space leased in the office space sector. It has surpassed the average quarterly leasing activity of 2023 by 11 percent.
Highlighting the spike in the building permissions over the past five months, GHMC chief stated that contrary to belief that HYDRAA had no negative impact on the real estate sector. He added that the ongoing infrastructure development is expected to boost the real estate sector in the coming year.
During a joint media conference held on Wednesday, the Commissioners of GHMC and HMDA and the Director of Town and Country Planning Devender Reddy informed that the real estate market continues to show a positive trend since HYDRAA was established.
The real estate market is further expanding following the inflow of foreign direct investment (FDI), which has doubled to 3 billion USD. Ilambarithi said. He added that the GHMC received 2,078 applications this November.
Meanwhile, HMDA Commissioner Sarfaraz Ahmed said they have witnessed a growth in the real estate applications from July to November this year. He added that compared to the same period in 2023, 45 percent more applications were received by the department. Similarly, building permission applications have also recorded a 40 percent year-on-year growth.
Hyderabad real estate registers buoyant growth despite HYDRAA concerns
Hyderabad’s real estate sector is witnessing robust growth despite growing fears over HYDRAA demolitions around water bodies in the city limits. The city has recorded a significant growth in the housing sales… pic.twitter.com/w7CPFO8kI5
— Hyderabad Mail (@Hyderabad_Mail) December 26, 2024
