Posted on: Post Date – 12:01 AM, Sat – 11/19/22
Hyderabad: Various policies of the state government over the past few years have led to a notable shift in real estate growth in Hyderabad apart from helping the overall development of the state.
With over 104 million sq ft of office stock as of September 2022, Hyderabad is one of the most sought-after office locations in the country.
The rapid growth of the office sector has further fueled demand for residential development, with the city’s apartment stock exceeding 33 million by September 2022, commercial real estate services firm CB Richard Ellis said in its latest report, “Telangana – Land for Rising Investment”. Million Sets. The report highlights the policies of the Telangana State Government impacting on real estate in Telangana, as well as trends across all real estate sectors in the state.
The report further said that increased investments from industrial and manufacturing players have led to the growth of the logistics sector in the city. By September, the city’s warehouse storage reached 23 million cubic feet. With the entry and expansion of global and domestic brands, Hyderabad has also witnessed an increase in demand for organized retail space in recent years. As of September this year, this resulted in a total mall inventory of more than 11 million square feet across 21 developments.
CB Richard Ellis further said that the state’s business environment is expected to improve on the back of a stable political system, targeted policy initiatives, expanded infrastructure base, positive stakeholder sentiment, and a large talent pool. Keep improving. The premium institutional supply in the IT corridors (Hitec City, Madhapur, Kondapur, Gachibowli, Raidurg, Nanakramguda and surrounding areas) will continue to attract flights to premium leases. CBRE said the use of technology will continue to drive smarter development in cities and encourage a “back to office” sentiment.
In the residential sector, the momentum of new launches and sales will continue. However, delivery schedules may be affected. Mid- to high-end properties will continue to drive demand. The focus will be on larger units, it added that developers would consider smart warehouses. International and domestic brands will continue to enrich their store formats and functions.
Telangana accounts for 5% of India’s GDP. The state’s GSDP has grown at a CAGR of 11.4% (in current prices) over the past five years, 2.9 percentage points higher than India’s growth rate over the same period. This is the result of policies focused on global and domestic commerce almost immediately after the country’s founding in 2014.
