Real estate boom on the outskirts

Real estate boom on the outskirts: Real estate is set for a boom on the outskirts of Hyderabad. According to the latest report by Colliers India, property prices in the outskirts are expected to rise by 10-20% in the next 3 to 5 years, driven by the expansion of Metro Phase-2.

The report highlights that, along with the residential market, the outskirts of Hyderabad will play a crucial role in the commercial real estate landscape. It also mentions that in the coming years, the outskirts will account for 12-15% of the Grade A office stock and 5-10% of the annual office space demand. The expansion of the Hyderabad Metro-2 network is expected to be a major driver of real estate growth in the outskirts. The Metro Phase-2 will extend from Nagole to Rajiv Gandhi International Airport, from LB Nagar to Hayatnagar, and from Raidurg to Kokapet.

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“Hyderabad’s office market continues to evolve. By 2024, it is expected to account for one-fifth of the demand and one-fourth of the new supply across the top six cities in India,” said Arpit Mehrotra, Managing Director of Office Services at Colliers India. Additionally, the report stated that residential property prices in Hyderabad’s western outskirts, including Kokapet, Neopolis, and Narsingi, have increased by more than 50% in the last five years, and further growth of 10-15% is expected. These areas are emerging as centers for high-end residential developments, while areas like Tlapur, Lingampalli, Bandlaguda, and Miyapur are expected to see growth in affordable and mid-segment housing.

The demand and supply for Grade A office space in the western regions are expected to grow several times over. The report predicts that the Grade A office stock in the micro-market will double, reaching 22 million square feet over the next 3 to 5 years.