According to a latest survey report by a renowned real estate firm, it has been revealed that Hyderabad has emerged as one of the leading favourable residential property markets among all the other cities of India. Due to this, the city has witnessed a steep jump in the property prices which has gone up by 18.6% in the one year.
The report also stated that this popularity has helped Hyderabad in gaining the fourth rank amongst the top 150 global cities in terms of increase in residential prices. Xian in China, on the other hand, emerged as the top city where the home prices have gone up by unexpectedly 20%.
Talking about the Indian cities, after Hyderabad, Ahmedabad has seen a surge in residential property market followed by Bengaluru, Surat, Mumbai, Pune, and Mumbai. The property prices increase here at a percentage of 19.6%, 18.3%, 13.2%, 12.6% and 11.5% respectively.
In recent times, Hyderabad has become a realty hotbed due to sudden infrastructure development, political stability, Presence of IT/ITes companies, MNCs that had led to employment generation as well as increased demand in the housing sector.
Experts have also suggested that the manner, in which the state government and other authorities are carrying out infrastructural developments in the city, is also the main reason behind this surge. The government is also focusing to develop more and more commercial centers which will ultimately boost the residential real estate market of the city.
Policies like lessening of tariffs and impact fees for multistory buildings have also contributed towards growth in the real estate.