The state government’s efforts to decongest Hyderabad by dispersing growth in all directions of the city appear to be bearing fruit, with subtle shifts in real estate dynamics being observed.
East Hyderabad is emerging as the new engine of growth for real estate investors, thanks to the ambitious Look East Policy (LEAP) spearheaded by MA&UD Minister KT Rama Rao.
According to a recent NoBroker report, the IT hub located near East Hyderabad is already home to prominent companies such as Tech Mahindra and TCS, making it an appealing destination for investors. Furthermore, the region’s appeal extends beyond the IT sector, with numerous pharmaceutical companies establishing themselves in the area.
According to the report, the government’s development plans, which include 14,000 acres in Phase 1 and an additional 5,000 acres in Phase 2, will generate an estimated 3.5 lakh jobs, further fueling the real estate market’s growth.
As per NoBroker data, there is a 91% increase in buyers looking to buy properties in the area in 2023 compared to the previous year. Over 50 new projects have recently been launched in Uppal, Nagole, LB Nagar, and Pocharam, firmly establishing this area of the city as a real estate hotspot.
High net-worth individuals (HNIs) are also said to be interested in commercial properties in these areas.
“HNIs are primarily looking to invest in multi-purpose commercial buildings which can accommodate small offices, clinics, showrooms, and restaurants,” Amit Agarwal, CEO and Co-founder of NoBroker.com, was quoted as saying.
The surge in demand for properties in East Hyderabad is being driven by a mix of interested buyers. Amit Agarwal stated investors are recognizing the region’s investment potential, and first-time buyers are drawn to the region’s lower cost of living and excellent connectivity compared to other parts of the city.
East Hyderabad’s high occupancy rates are one of the key factors driving its growth. According to NoBroker’s estimates, the occupancy rate in East Hyderabad is typically around 85%. This demonstrates the city’s attractiveness as a residential and commercial destination, with people actively seeking to live and work in the area.
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