Hyderabad's Real Estate Sees 5 Times Jump In Investment: JLL
New Delhi: Investments in real estate in Hyderabad has gone up more than five times to Rs 10,100 crore since start of 2015 till the end of first half of 2019, according to a study by property consultant JLL.
The city got only Rs 1,800 crore of investment from 2008 to 2014.
Office segment of real estate accounted for 70 percent of total investment of Rs 10,100 crore on the back of strong economic growth, infrastructure development and development of global standards of office and residential assets.
Hyderabad is expected to be front runner in office real estate with completion of 13.2 mn sq ft in 2019, accounting for almost 28 percetn of the overall new completions in the country.
“The formation of Telangana state has added to the growth potential of the city. There is a growing preference among global as well as domestic occupier companies toward quality assets. Expansion led by co-working operators, BFSI and select IT/ITeS companies have resulted in the strong surge in Hyderabad. Our outl ook on the city remains positive,” said Ramesh Nair, CEO & Country Head, JLL India.
Even the residential segment is on a roll in the city. Although, there has been a drop in new launches, sales have been continuous going up since the second half of 2017. About 40 percent of the launches have been in the mid-market segment in the Rs 75 lakhs to Rs 1 crore bracket. The city also has witnessed an average price appreciation of 6 percent in first half of 2019 as compared to the same period of 2018.