When real estate activities in major cities of India witnessed a slump, Hyderabad’s realty market remained resilient. A report found the city’s average property sales to shoot up by 32% between 2013-14 and 2017, during a period when it dipped in other parts of the country. Of late, South Hyderabad has captured the attention of homebuyers and developers alike.
In fact, several luxurious residential projects, such as Prestige High Fields, have come up in South Hyderabad.
Which is slowly emerging as the future hub of real estate in the city because of the following reasons:
West Hyderabad getting choked
Choking of locations in West Hyderabad, which till date has been the hotspot of real estate activities, such as Gachibowli and Manikonda because of aggressive developments has titled the scales in favour of South Hyderabad.
Also, with land getting expensive in these parts of the city, developers are slowly shifting south to places like Kismatpur, Budwel and Rajendranagar among others.
Massive Government support
Another major reason for real estate developers to shift and expand their business in South Hyderabad is the support from the Telangana Government.
The Government has already proposed a plan of establishing IT clusters in Budvel, near Rajendranagar, following which several companies are in the process to set up operations in these clusters. With these clusters attracting a sizeable workforce from different locations of India, experts believe real estate activities to pick up in South Hyderabad.
Development of infrastructure
The rapid development of infrastructure in South Hyderabad is one of the major reasons for the area to gain traction among homebuyers and realty developers. The Telangana Government is taking every possible step to include South Hyderabad in the next phase of the metro railway, connecting it to the RGI airport.
There is also a proposed extension of the PVNR expressway from Shamshabad to Aramgarh, which will make it much easier to reach to RGI Airport. Connectivity of South Hyderabad will get a massive boost once these developments get underway.
Prominent developers launching projects in South Hyderabad
This is another reason for Hyderabad real estate to be the future hub. Several prominent developers have launched their projects here. Prestige High Fields from the Prestige High Group is one such project which offers premium amenities at an affordable price.
While several pre-launch events have been conducted in the past, many more are in the pipeline. With the Government’s focus on infrastructure and development, South Hyderabad is all set to become the premier real estate destination of the city.