According to the World Economic Forum (WEF), Hyderabad, which holds a second place among the metropolitan cities in India, is among the top 10 fastest growing cities in the world. Very soon, going by Gross Domestic Product (GDP) growth as per research institute Oxford Economics, Hyderabad with 8.47% GDP growth will be the second fastest-growing city in the world.
In a few years from now, Hyderabad could be the fastest growing city in the world as the Telangana Government looks set to unveil several more big plans to boost infrastructure growth, especially between the Outer Ring Road (ORR) and the proposed Ring Road, where several major companies from Bangalore, are expected to shift.
Thanks to the political stability in Telangana since 2014, Hyderabad has swiftly acquired an upper-edge over other mega Indian cities. With the Telangana Government’s key focus on infrastructure development, Hyderabad has overtaken Bangalore in terms of real estate growth in the first quarter of 2019.
WHAT HAS FUELLED INFRASTRUCTURE GROWTH STORY?
For the Real Estate developers in Hyderabad, the continued proactive policies of the Telangana Government coupled with a favourable environment has made real estate business in Hyderabad a convenient business. The landmark introduction of the Telangana State Industrial Project Approval & Self-Certification System (TS-iPASS) Act has helped create a business-friendly environment accelerating and uplifting Hyderabad’s status as a popular investment destination while also vastly benefitting the Hyderabad real estate market.
In addition, the Telangana Government has also initiated the following steps:
- Single-window approval system for the real estate industry;
- Property Tax registration and payment process, online;
- Town planning process simplification;
- Building permissions process online;
- Self-certification & all other approvals under single window clearance; &
- Online clearance system for new projects approval, with large-scale support to young entrepreneurs.
In the past decade, Hyderabad has seen several major infrastructure developments like:
- 20-acre SMARTRON Data Centre campus;
- Aerospace Park SEZ;
- Gaming & Animation Park;
- Pharma City;
- Life Sciences & Medical Devices Park; etc.
The above infrastructure developments has not only created a favourable ecosystem in the city, generating jobs and attracting high-quality talent to the city, but has also helped activate several large opportunities in exports and most importantly made a tremendous impact on the real estate market, leading to large-scale acquisition of plots in Hyderabad and commercial property Hyderabad.
Further, Telangana Government has initiated several steps which the builders and developers in Hyderabad feel has led to a remarkable improvement in infrastructure and connectivity that has, in turn, helped rejuvenate Hyderabad’s real estate market, leading to several residential projects in Hyderabad including some of the finest residential projects in Kondapur.
Some good examples include:
- Hyderabad Metro, a 72 km long, three-corridor elevated metro rail project that is expected to leapfrog the city’s infrastructure to the next level, uniting the eastern and western ends of the city which houses SEZs, industrial corridors, and IT hubs.
- PVNR Expressway of 11 km which connects the urban centre to the International Airport at Shamshabad.
Other major infrastructure works that are coasting along smoothly or are on the anvil include:
- Jawaharlal Nehru Outer Ring Road, being developed on the same lines as Beijing’s 8 Bangles Ring Road. This is expected to help people navigate with ease in and out of the city limits, within minutes.
- Mega Township close to the IT hub at Kokapet, which could witness the development of 90 million sq ft of workspace.
- Underpasses from Jubilee Bus Stand to Shamirpet, Turkapally; Uppal to Ghatkesar; Paradise Junction to Kompally and other locations across Hyderabad.
- 52 major junctions across the city as a signal-free junction.
A CII Telangana report titled, “Hyderabad – A Global City In The Making”, reveals that Hyderabad has been ranked as the second-best city globally in ‘JONES LAND LaSalle’s City Momentum Index”, placing it next to Bangalore. Likewise, Mercer Quality Of Living ratings, 2019, ranked Hyderabad along with Pune as the top cities in India.
Fortune Builders & Developers, premier builders and developers in Hyderabad, is playing a key role in providing the best of its kind of infrastructure properties in line with international standards, including malls in Narsingi Hyderabad, apartments in Marredpally, apartments in Whitefield, apartments in ECIL, and also some of the finest residential projects in Kondapur. In addition, in keeping with its status as one of the best real estate developers in Hyderabad and India, Fortune Builders & Developers is also offering world-class residential projects in Mumbai.
Fortune Builders & Developers, as a leading real estate developer in Hyderabad, also works alongside prominent architects and interior designers in Hyderabad, to develop several elegant building landmarks, built on the pillars of creativity, craftsmanship, and comfort value with detailing that assures secure living for inhabitants.
The Telangana Government is planning to invest a whopping Rs 20,000 crores to boost infrastructure development in Hyderabad, which is expected to attract more renowned organisations from India and abroad, to set-up their offices and headquarters at the IT, and Financial, and Industrial hubs, across the city. This, in turn, will greatly fuel large scale jobs in the real estate industry.
The continuous proactive initiatives of the Telangana Government coupled with the excellent low cost of living; good quality of life; abundant land availability; large talent pool; & decent infrastructure, are also expected to further consolidate and make Hyderabad, a truly GLOBAL CITY as well as one of the best markets for real estate business in INDIA.