Knight Frank India in its latest report stated that Hyderabad is one of the few cities in India that recorded positive growth of 2% year-on-year (YoY) in Q3 2020 in the real estate sector. In the commercial real estate market in India between 2014 to 2019, Hyderabad recorded growth of 172%. The city also witnessed the growth of 2% year-on-year (YoY) in Q3 2020 as per the research report titled 'WFH, #WorkfromHyderabad', in terms of the commercial market. Read on the exclusive details on Surfaces Reporter (SR).
Even Covid 19 didn't impact much and saw a significant growth of 5.3% Compounded Annual Growth Rate (CAGR) in 10 years and rents continue to remain steady. As per the report released in Hyderabad, it is among the two metro cities along with Bengaluru that have not seen a fall in residential prices despite market uncertainties and low sales.
Over the last 5 years, Hyderabad jumped to the second position in 2019 from sixth in 2014 in terms of annual office space demand across major cities in the country. Moreover, passenger traffic handling has increased from 5.5% in 2014-15 to 6.4% in 2019-20 at Hyderabad Airport.
As per the recent report after the formation of Telangana, the state's real Gross Domestic Product (GDP) has significantly grown to Rs 6.63 trillion in 2019-2020 from Rs 4.16 trillion in 2014 with a CAGR of 8.08%.
Telangana Industry and Commerce, and Information Technology Minister KT Rama Rao said, "Hyderabad has transformed into the new tech hub of India in the last six years. "The city's metro rail project [is] the world's largest metro project in the public-private partnership model."
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "besides IT/ITeS, the Telangana government has increased impetus on industries such as pharmaceutical and life sciences, food processing, electronics, and textiles in a bid to diversify its economic interests. In the last four years, Telangana attracted investments of over Rs 10,000 crore in the life sciences industry."
"Hyderabad has been ranked high across categories of living and business. It is now emerging with modern business clusters and holds promise for new industrial ecosystems on the lines of the successful IT sector," said Samson Arthur, Branch Director - Hyderabad, Knight Frank India.