Hyderabad: Hyderabad’s organized real estate industry has witnessed investments of about $1 billion during 2019-2020 and is expected to see a further surge in investments in the coming quarters. Majority of the investments will go into the development of commercial offices and residential skyscrapers.
This growth indicates that occupiers are likely to expand their operations owing to investment-friendly policies of the State government, CBRE said. It also expects sustained occupier interest in quality developments in the coming quarters in the city.
CBRE’s Capital Markets & Land division saw India’s largest land deal of 2020 in Hyderabad with one of the top-tier developers in the city Rajapushpa Properties having bought 25 acres of land in Narsingi, Western Hyderabad. The deal includes 18 acres of direct purchase and seven acres of joint development together proposed for the development of a high-end residential township.
The Rs 800-crore land deal assumes significance as the real estate demand and investor confidence returned to Hyderabad real estate market post the pandemic-induced lockdown. Scheduled to be launched in the first quarter of 2021, the project intends to capture the accelerated demand in India’s top-performing real estate market that will give an economic fillip to the sector’s revival.
Rajapushpa Properties holds a large portfolio of residential and commercial office projects in Hyderabad and aims to dedicate a large part of this proposed high-end residential project to greenery and landscape through state-of-the-art planning, world-class amenities, and infrastructure.
Anshuman Magazine, chairman & CEO-India, South East Asia, Middle East & Africa, CBRE said, “We at CBRE are optimistic that the real estate market is going to bounce back with immense resilience that it has shown in the last few months.
Hyderabad is one of the top-performing real estate markets in India, owing to the infrastructure, pro-active government, and robust office space take-up by MNCs. The market remained resilient with the residential market in its recovery phase with volumes coming back to pre-Covid levels. Also, the unit sales and capital values across micro-markets continue to remain strong and expected to further escalate over the next few quarters, CBRE noted.
