After the project of HYDRA (Hyderabad Disaster Response and Asset Monitoring and Protection Agency) was launched by the Telangana Chief Minister Revanth Reddy in July 2024, a few uninformed people resorted to riot-mongering, stating that the real-estate bubble of Telangana’s capital, Hyderabad, had burst.
Nothing is further from the truth. According to Savills
Research 2024, Hyderabad is the fourth fastest-developing city in the world!
How can this major Indian metropolis lose its shine just because of Hydra, the
mission of which is only to remove unauthorized constructions to restore and
revive lakes and ponds within its municipal corporation limits?
We are aware of operations coming to a standstill recently in
Bengaluru and Chennai, specifically due to the construction of residential and
commercial buildings on reclaimed land from tanks and lakes. So, Hydra is a
move in the right direction to make Hyderabad a safer place to live.
Henceforth, real estate developers will develop residential
apartments only in areas that will not be affected by heavy flooding caused by
rains in the ‘City of Pearls.’ Isn’t this a positive development for the realty
sector in Hyderabad going forward? It will help prospective buyers of
apartments and villas in Hyderabad make informed decisions before they make a
purchase.
Appeal of Hyderabad to real estate buyers
Hyderabad started growing exponentially in the 1990s, as
numerous information technology and pharmaceutical giants began setting up
shops in the city. Many people are still unaware that Microsoft houses its
largest IT hub outside of the United States in Hyderabad. Furthermore, Google
zeroed in on Hyderabad in the first decade of the 21st century to set up one of
its major offshore units in Asia.
Cognizant had recently announced that its employee headcount
in Hyderabad was on par with its corporate head office located in Chennai.
There are more such amazing facts that we in the city, which is renowned for
its biryanis, are unaware of.
Facebook also followed suit. Meanwhile, MNCs such as Oracle,
IBM, Qualcomm, Deloitte, Pricewaterhouse Coopers, and others, besides Indian
majors like TCS, HCL Technologies, Wipro, Infosys, etc., have all set up large
development centers in the erstwhile capital of Andhra Pradesh.
Keeping up with its image as a global city, Hyderabad’s
physical infrastructure has been having a major makeover over the last 30
years. This has led to Hyderabad’s Rajiv Gandhi International Airport (RGIA)
becoming the fourth busiest airport in India.
The newer part of Hyderabad has experienced phenomenal
infrastructure development and expansion, beginning from Banjara Hills, and
extending to its western and southern suburbs, including Hitech City, Kondapur,
Gachibowli, Raidurgam, Manikonda, Narsingi, and Kokapet, among others. Most of
the real estate development in Hyderabad is happening in all these areas.
It is not just the IT professionals who are thronging to
these neighborhoods. The Hyderabad real estate boom has been driven by other
while-collared professionals and many NRIs from AP and Telangana who have
bought or are planning to buy in these coveted locations.
IT captains like Satya Nadella, CEO of Microsoft, and
Shantanu Narayen, CEO of Adobe, were born and raised in Hyderabad, in addition
to many other C-level executives of major corporate companies worldwide.
Most would want to retire or at least have a holiday home in India’s
sixth-largest city.
Conclusion
This write-up intends to set rest to fears that prospective
real estate investors who have been eyeing Hyderabad but become cautious owing
to the somewhat negative publicity it has received lately.
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