Factors That Drive Hyderabad Realty
Not long before, Hyderabad was quite a Tier-II city. Today, this cyber hub is giving metropolitans such as Bengaluru and Chennai a tough competition. The city has managed to shine on the world as more and more global giants set shop here. Also, rates of property in Hyderabad have been moving upwards constantly because of the grow potential it offers investors. This is contrary to the muted growth witnessed in other major cities of the country.
Let us look at the key factors that are helping Hyderabad and its real estate grow bigger day by day.
Ease of doing business
A great deal of Hyderabad's success depends on state policies. Subsidised land rates, waiver in operational fees and a single-window clearance system for commercial projects are some of the advantages that IT/ITes companies get. Those business units which prefer leasing office spaces find the cost lower when compared to other metro cities such as Delhi, Mumbai, Bengaluru and Chennai. The state government is also promoting the startup culture through incubation centres coming up in the city.
Like any other metro city, Hyderabad enjoys international connectivity. This also includes those nations that are IT exporters and send their professionals to the city for operational purpose. The road connectivity to nearby cities such as Bengaluru and Chennai is smooth and transportation is readily available round the clock. Private as well as state-run buses ply over national highways between Hyderabad and other nearby cities. The railway network in Hyderabad is wide and the multi-modal transport system is highly active within the city. Once the Metro becomes operational, the traffic on roads will decline further.
A major thing that pushes real estate in the city of Nawabs is the infrastructure development. Construction of the Inner Ring Road, the Outer Ring Road and proposed Radial Roads has smoothened the travelling within the city. Traffic-less, signal-free roads to the airport from the city centre, flyovers and underpasses have also made the commute easy for the residents. Apart from this, the Hyderabad civic authority has ensured that proper drainage and sewerage systems are installed across the city to minimise the damages during the rainy season. The recent cleanliness drive in Hyderabad was a big success. In fact, geo-tagging of bins is under-process while the new spots for lifting up the garbage have been identified. The city also ranks among the cleanest cities in India.
Close to talent pool
Hyderabad is a hub of some of the prominent educational institutes. The city is rich in the talent pool and has easy access to those available in Bengaluru and Chennai. The Indian School of Business, the ICFAI, the Hyderabad University, the Osmania University and the JNTU are some of the premier institutions where recruiters from Hyderabad go looking for new talent. Also, the local talent is easily approachable for startups that are incubated in Hyderabad.