The Hyderabad real estate market is currently witnessing a remarkable upswing, driven by a substantial increase in property registrations and building permissions. This trend is particularly pronounced in residential property registrations, which have surged by 12.5% between December 2023 and June 2024, compared to the same period last year. This surge in property registration activity is having a positive impact on the state’s revenue.
Government data indicates that registration fees collected from the Hyderabad Metropolitan Development Authority (HMDA) and Greater Hyderabad Municipal Corporation (GHMC) limits have reached Rs 4,670 crore over the past seven months. This represents a significant increase of Rs 241 crore compared to the previous seven-month period, underscoring the robust growth within the Hyderabad real estate market. While residential properties are a key driver of this market momentum, the influx of major Banking, Financial Services, and Insurance (BFSI) companies into Hyderabad’s commercial real estate sector is a noteworthy development. This trend, observed during the first half of 2024 (H1 2024), marks a significant shift for the city’s business landscape. Known for its strength in technology and food sectors, Hyderabad is now emerging as a well-rounded commercial hub.
Several prominent BFSI sector companies have established a presence in Hyderabad. Industry reports reveal that the BFSI sector emerged as one of the top three occupiers of office space in H1 2024, capturing a substantial 30% market share. This surge in BFSI activity underscores the growing confidence in Hyderabad’s robust infrastructure, skilled workforce, and favourable business environment. Experts anticipate that the Hyderabad real estate market will maintain its upward trajectory, propelled by several upcoming government projects. These include the expansion of the Hyderabad Metro Rail network, the extension of city limits up to the Outer Ring Road (ORR), the Musi Riverfront Development initiative, and the construction of elevated expressways connecting national highways.
These infrastructural advancements, combined with the Telangana government’s focus on strengthening urban development, are expected to solidify Hyderabad’s position as a major commercial and residential centre in India. As Hyderabad continues to attract significant investments and development projects, the city is poised for sustained growth and a flourishing real estate market. The positive trends in both residential and commercial sectors reflect Hyderabad’s evolving landscape, making it an increasingly attractive destination for businesses and residents alike.
