1.3 lakh residential units will be launched in the next three years.
It is an undeniable truth that there is an inextricable relationship between the real estate sector and the IT industry. Wherever the real estate industry develops, the IT sector plays a vital role in it. IT plays an important role in the development of the real sector in Hyderabad as well. The same thing has been revealed in a recently released study.
The presence of major global tech companies like Google, Microsoft, and Facebook has led to an influx of IT professionals to the city, resulting in demand for high-quality residential housing. The report was released by Square Yards after evaluating the data of the Inspector General of Registration (IGR) of Telangana.
A total of 16,807 transactions took place in the October–December quarter of last year. It said that almost half of them were in the IT hub. It revealed that 8,058 transactions worth a total of Rs 5,383 crore were made in the West Zone, which includes real estate hot spots like Gachibowli, Hitec City, Madhapur, and Manikonda. Also, 1323 transactions worth Rs. 1017 crore took place in Central Hyderabad, 2536 transactions worth Rs. 965 crore in the East Zone, 2179 transactions worth Rs. 898 crore in the North Zone, 1607 transactions worth Rs. 735 crore in the South Zone, and Rs. 497 transactions in Secunderabad.
Another company, CBRE South Asia, has stated in its latest report that 1.3 lakh residential units will be launched in Hyderabad in the next three years. The expansion of the city in terms of technology and industrialization has become a catalyst for residential development. The increasing demand from employees of multinational companies is the reason for the further development of the residential real estate sector in the city. It is clear that West Hyderabad will continue to be the preferred residential hub as ever, with mid-segment, high-end, and premium-category homes.
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