Hyderabad: IT industry fuels real estate boom

Hyderabad: According to a recent report by Square Yards, Hyderabad’s real estate market is driven by the thriving information technology (TI) industry in the city. The presence of global tech giants such as Google, Microsoft and Facebook has created a substantial influx of IT professionals, creating demand for high-quality residential accommodation.

Integrated Grievance Redressal (IGR) Telangana data, compiled by Square Yards for the fourth quarter (October to December) of 2023, highlights a dynamic real estate landscape marked by substantial transactions across diverse micro markets. Total transactions during this period increased to 16.807.

The West region, which includes real estate points of interest like Gachibowli, Hitech City, Madhapur and Manikonda, emerged as a powerhouse with total transactions worth Rs 5.383 million and 8.058 transactions.

However, saturation in the main micromarkets of Zone Oeste has provoked a displacement of demand towards the business districts of the Central Zone. This change is evident in 1,323 transactions totaling Rs 1,017 million during the same period.

The sector witnessed a growth of transactions (2536) worth Rs 965 million, which was attributed to the growth in TI parks, increasing popularity of metropolitan connectivity and extensive development of civic infrastructure in areas like Pocharam, Uppal and Habsiguda. La Zona Norte is positioned as a promising investment destination with 2.179 transactions.

Aparna Construction & Estates dominated the list with sales of 621 units worth a total of Rs 510 million, according to data obtained from property records by Square Yards. Sumadhura Infracon, a new entrant in the list of top 10 developers, sold 145 units at a value of Rs 196 million in the October-December period.