Hyderabad to transform into megacity in another decade, real estate markets to boom

Several reports and studies have indicated Hyderabad will be transforming into a veritable megacity by the year 2030 and real estate markets will boom hugely over the next few years in the city as a result. Hyderabad is generating high employment and wealth creation along with attracting a skilled workforce from all parts of the country. These are key factors that will propel not just growth in the property market but also spur Hyderabad towards becoming a megacity by the year 2030. Reports also state that Hyderabad is viewed as a key IT and tourism hub by the United Nations. The population of Hyderabad is expected to increase to a whopping 12.3 crore over the next 12 years with huge potential to create more space, jobs and wealth for residents. The continued influx of migrants into the city on account of job and business opportunities will boost the real estate and property markets in terms of growing demand. Hyderabad has a median salary that is quite decent after Bangalore and Delhi. Hyderabad is one of the country’s biggest IT hubs with several companies like Amazon, Apple, Facebook, Google and Microsoft present here. Median salaries usually start at approximately Rs. 4, 89, 505 annually with growth rates hovering between 10-30% for employees. Salaried professionals get decent growth, adequate work-life balance and multiple opportunities here. Positive Government policies and the thrust on infrastructure are also boosting the office and residential markets alike. Hyderabad is the only city amongst the 7 top Indian cities which is witnessing considerable growth in the residential real estate segment. This is the only city where there has been an increase of 32% in property sales between the 2013-14 period to the year 2017. Political stability from 2014 onwards has been a major factor along with the renewed focus of the Government on infrastructural development. The trends indicate sky-rocketing residential and commercial real estate growth in Hyderabad with a burgeoning population and economic prowess. This may also draw both domestic and global investors to the city’s property market. Several premium real estate projects are already being developed in Hyderabad including Incor PBEL City, Rajapushpa Atria and Aditya Beverly Park to name a few.