Hyderabad’s real estate sector is experiencing a significant upsurge. Property registrations, building permits, and layout approvals have witnessed a sharp increase, indicating a thriving market.
Since the formation of the new government in December 2023, the Hyderabad Metropolitan Development Authority (HMDA) area has recorded a substantial rise in both property registrations and revenue generated. The number of building permits granted has also seen a notable uptick.
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Key Factors Driving the Boom
Government Initiatives: The ambitious Musi River Front Development Project, Metro Rail expansion, and the construction of elevated corridors are transforming the city’s landscape.
HMDA Expansion: The proposed extension of HMDA’s jurisdiction to the Regional Ring Road and the government’s focus on the RRR development have created a favorable environment for real estate growth.
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Numbers Tell the Story
Revenue: The government has earned Rs 4670.52 crore from plot and building registrations between December 2023 and June 2024, a significant increase compared to the previous seven months.
Registrations: There was a 12.5% increase in property registrations from December 2023 to June 2024 compared to the same period in 2022. Flat registrations grew by 7%.
Building Permits: The number of building permits granted by GHMC and HMDA increased by 13.17% from December 2023 to June 2024 compared to the previous seven months.
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These figures indicate a robust and expanding real estate market in Greater Hyderabad.
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